Sienna Gestion Invests $5.91 Million in Halliburton Company $HAL

Sienna Gestion bought a new position in shares of Halliburton Company (NYSE:HAL) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 263,401 shares of the oilfield services company’s stock, valued at approximately $5,908,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HAL. Cullen Frost Bankers Inc. bought a new stake in shares of Halliburton in the 3rd quarter worth approximately $25,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Halliburton during the second quarter valued at approximately $25,000. Root Financial Partners LLC acquired a new position in shares of Halliburton in the third quarter valued at $32,000. Rakuten Securities Inc. raised its stake in shares of Halliburton by 547.3% in the second quarter. Rakuten Securities Inc. now owns 1,586 shares of the oilfield services company’s stock valued at $32,000 after purchasing an additional 1,341 shares in the last quarter. Finally, Cape Investment Advisory Inc. lifted its position in Halliburton by 111.9% in the second quarter. Cape Investment Advisory Inc. now owns 1,704 shares of the oilfield services company’s stock worth $35,000 after purchasing an additional 900 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HAL. The Goldman Sachs Group lifted their price target on shares of Halliburton from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. BMO Capital Markets raised their price target on shares of Halliburton from $36.00 to $39.00 and gave the stock a “market perform” rating in a research note on Thursday, January 22nd. Wall Street Zen raised Halliburton from a “buy” rating to a “strong-buy” rating in a report on Sunday. Morgan Stanley reiterated an “overweight” rating and issued a $35.00 price objective on shares of Halliburton in a research note on Wednesday, January 21st. Finally, Barclays increased their target price on Halliburton from $25.00 to $30.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Halliburton has an average rating of “Moderate Buy” and an average price target of $35.38.

Insider Activity at Halliburton

In other Halliburton news, CEO Jeffrey Allen Miller sold 171,200 shares of the business’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $34.96, for a total value of $5,985,152.00. Following the completion of the transaction, the chief executive officer directly owned 1,101,243 shares of the company’s stock, valued at approximately $38,499,455.28. The trade was a 13.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Margaret Katherine Banks sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $34.17, for a total transaction of $88,842.00. Following the transaction, the director owned 14,043 shares in the company, valued at $479,849.31. The trade was a 15.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 328,148 shares of company stock valued at $11,199,000. Insiders own 0.56% of the company’s stock.

Halliburton Price Performance

Shares of HAL stock opened at $34.11 on Monday. The stock’s fifty day moving average is $33.30 and its 200-day moving average is $28.05. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.51 and a current ratio of 2.04. The stock has a market capitalization of $28.57 billion, a PE ratio of 22.59, a PEG ratio of 2.03 and a beta of 0.73. Halliburton Company has a 52 week low of $18.72 and a 52 week high of $37.03.

Halliburton (NYSE:HAL) last announced its earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.14. Halliburton had a return on equity of 19.77% and a net margin of 5.78%.The company had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period last year, the company posted $0.73 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Equities research analysts expect that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, March 4th. Halliburton’s dividend payout ratio (DPR) is presently 45.03%.

Halliburton Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.