Pinebridge Investments L.P. Buys 8,567 Shares of Halliburton Company (HAL)
Pinebridge Investments L.P. grew its stake in Halliburton Company (NYSE:HAL) by 43.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,342 shares of the oilfield services company’s stock after buying an additional 8,567 shares during the period. Pinebridge Investments L.P.’s holdings in Halliburton were worth $1,304,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Halliburton by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 59,770,447 shares of the oilfield services company’s stock valued at $2,552,795,000 after purchasing an additional 1,267,141 shares in the last quarter. BlackRock Inc. boosted its position in shares of Halliburton by 7.6% during the 2nd quarter. BlackRock Inc. now owns 55,790,373 shares of the oilfield services company’s stock valued at $2,382,809,000 after purchasing an additional 3,955,245 shares in the last quarter. Capital World Investors boosted its position in shares of Halliburton by 0.7% during the 2nd quarter. Capital World Investors now owns 47,713,255 shares of the oilfield services company’s stock valued at $2,037,833,000 after purchasing an additional 320,362 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Halliburton by 9.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 17,051,088 shares of the oilfield services company’s stock valued at $784,822,000 after purchasing an additional 1,427,985 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of Halliburton by 2.5% during the 3rd quarter. Macquarie Group Ltd. now owns 15,931,445 shares of the oilfield services company’s stock valued at $733,325,000 after purchasing an additional 384,565 shares in the last quarter. 79.95% of the stock is owned by institutional investors.
Several equities research analysts recently commented on the company. J P Morgan Chase & Co cut their target price on Halliburton from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 12th. Loop Capital restated a “buy” rating and set a $57.00 target price (down previously from $62.00) on shares of Halliburton in a research report on Tuesday, October 24th. Scotiabank restated a “buy” rating and set a $52.00 target price on shares of Halliburton in a research report on Wednesday, October 25th. Jefferies Group set a $56.00 target price on Halliburton and gave the company a “buy” rating in a research report on Monday, August 28th. Finally, Citigroup cut their target price on Halliburton from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $57.55.
In related news, Chairman David J. Lesar sold 50,000 shares of Halliburton stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $43.70, for a total transaction of $2,185,000.00. Following the completion of the sale, the chairman now owns 490,143 shares of the company’s stock, valued at $21,419,249.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lawrence J. Pope sold 9,100 shares of Halliburton stock in a transaction on Monday, November 27th. The shares were sold at an average price of $41.35, for a total value of $376,285.00. Following the sale, the executive vice president now directly owns 180,646 shares of the company’s stock, valued at approximately $7,469,712.10. The disclosure for this sale can be found here. Insiders have sold 88,585 shares of company stock valued at $3,858,920 in the last three months. 0.46% of the stock is owned by corporate insiders.
Halliburton Company (NYSE:HAL) opened at $43.99 on Friday. Halliburton Company has a fifty-two week low of $38.18 and a fifty-two week high of $58.78. The company has a quick ratio of 1.67, a current ratio of 2.20 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $37,920.63, a P/E ratio of 59.53, a PEG ratio of 4.69 and a beta of 1.03.
Halliburton (NYSE:HAL) last issued its quarterly earnings results on Monday, October 23rd. The oilfield services company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.04. Halliburton had a return on equity of 6.93% and a net margin of 1.13%. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period last year, the business posted $0.01 earnings per share. Halliburton’s revenue was up 42.0% on a year-over-year basis. sell-side analysts forecast that Halliburton Company will post 1.16 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 7th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.64%. The ex-dividend date is Wednesday, December 6th. Halliburton’s dividend payout ratio is 300.01%.
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Halliburton Company Profile
Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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