Royal London Asset Management Ltd. Has $30.33 Million Position in Halliburton (NYSE:HAL)

Royal London Asset Management Ltd. raised its stake in Halliburton (NYSE:HAL) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 897,805 shares of the oilfield services company’s stock after acquiring an additional 26,097 shares during the period. Royal London Asset Management Ltd.’s holdings in Halliburton were worth $30,328,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of HAL. Rise Advisors LLC bought a new stake in Halliburton during the first quarter worth about $26,000. IAG Wealth Partners LLC bought a new stake in shares of Halliburton during the 1st quarter worth approximately $30,000. Johnson Financial Group Inc. acquired a new stake in shares of Halliburton during the 4th quarter worth approximately $33,000. First United Bank & Trust bought a new position in Halliburton in the fourth quarter valued at approximately $36,000. Finally, Bruce G. Allen Investments LLC increased its stake in Halliburton by 274.9% in the second quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock valued at $38,000 after acquiring an additional 822 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on HAL shares. StockNews.com downgraded Halliburton from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. Jefferies Financial Group reduced their price objective on Halliburton from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. JPMorgan Chase & Co. lowered their target price on Halliburton from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada reduced their price target on shares of Halliburton from $45.00 to $44.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Finally, Benchmark reaffirmed a “buy” rating and set a $42.00 price target on shares of Halliburton in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.88.

Halliburton Stock Performance

NYSE HAL opened at $28.32 on Wednesday. The company has a market capitalization of $25.07 billion, a price-to-earnings ratio of 9.80, a PEG ratio of 0.97 and a beta of 1.89. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. Halliburton has a twelve month low of $27.96 and a twelve month high of $43.85. The stock has a fifty day simple moving average of $32.24 and a 200 day simple moving average of $35.20.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The firm had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.95 billion. During the same quarter in the previous year, the company posted $0.77 EPS. The business’s revenue was up .6% on a year-over-year basis. Sell-side analysts expect that Halliburton will post 3.14 EPS for the current year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a $0.17 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.40%. Halliburton’s dividend payout ratio (DPR) is currently 23.53%.

Insider Transactions at Halliburton

In related news, EVP Van H. Beckwith sold 10,000 shares of Halliburton stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total transaction of $367,500.00. Following the completion of the transaction, the executive vice president now owns 273,908 shares of the company’s stock, valued at $10,066,119. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is currently owned by corporate insiders.

Halliburton Company Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.