Gateway Investment Advisers LLC grew its stake in Halliburton (NYSE:HAL) by 316.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 536,571 shares of the oilfield services company’s stock after purchasing an additional 407,690 shares during the quarter. Gateway Investment Advisers LLC owned approximately 0.06% of Halliburton worth $10,114,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of HAL. Pzena Investment Management LLC raised its stake in shares of Halliburton by 89.8% in the 2nd quarter. Pzena Investment Management LLC now owns 23,591,540 shares of the oilfield services company’s stock valued at $536,472,000 after purchasing an additional 11,163,777 shares in the last quarter. BlackRock Inc. raised its stake in shares of Halliburton by 8.3% in the 2nd quarter. BlackRock Inc. now owns 64,046,975 shares of the oilfield services company’s stock valued at $1,456,428,000 after purchasing an additional 4,911,686 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Halliburton by 21.0% in the 2nd quarter. Macquarie Group Ltd. now owns 28,178,590 shares of the oilfield services company’s stock valued at $640,781,000 after purchasing an additional 4,887,699 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Halliburton in the 2nd quarter valued at about $78,695,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Halliburton by 43.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,108,725 shares of the oilfield services company’s stock valued at $184,392,000 after purchasing an additional 2,443,038 shares in the last quarter. Institutional investors and hedge funds own 77.59% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Barclays lowered shares of Halliburton from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $31.00 to $23.00 in a research note on Monday, September 16th. Piper Jaffray Companies set a $26.00 target price on shares of Halliburton and gave the company a “buy” rating in a research note on Monday, July 1st. ValuEngine upgraded shares of Halliburton from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Bank of America cut their target price on shares of Halliburton from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Finally, AltaCorp Capital restated a “sector perform” rating on shares of Halliburton in a research note on Thursday, June 20th. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Halliburton has an average rating of “Buy” and an average price target of $35.67.
In other news, Director William E. Albrecht purchased 8,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were bought at an average price of $19.35 per share, for a total transaction of $154,800.00. Following the completion of the purchase, the director now owns 16,000 shares of the company’s stock, valued at $309,600. The purchase 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 company insiders.
HAL opened at $18.30 on Thursday. The firm has a market cap of $16.43 billion, a price-to-earnings ratio of 9.63, a price-to-earnings-growth ratio of 2.31 and a beta of 1.37. Halliburton has a fifty-two week low of $16.97 and a fifty-two week high of $40.02. The company’s 50-day moving average price is $19.24 and its 200 day moving average price is $22.96. The company has a quick ratio of 1.59, a current ratio of 2.26 and a debt-to-equity ratio of 1.16.
Halliburton (NYSE:HAL) last released its quarterly earnings data on Monday, July 22nd. The oilfield services company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.05. The firm had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.97 billion. Halliburton had a net margin of 5.58% and a return on equity of 13.76%. Halliburton’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. Research analysts anticipate that Halliburton will post 1.28 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were paid a $0.18 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.72 annualized dividend and a dividend yield of 3.93%. Halliburton’s payout ratio is currently 37.89%.
Halliburton Company Profile
Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
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