KLP Kapitalforvaltning AS Makes New Investment in Halliburton (NYSE:HAL)

KLP Kapitalforvaltning AS acquired a new stake in shares of Halliburton (NYSE:HAL) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 350,543 shares of the oilfield services company’s stock, valued at approximately $9,531,000.

A number of other hedge funds also recently made changes to their positions in the stock. MidWestOne Financial Group Inc. increased its stake in Halliburton by 4.4% in the third quarter. MidWestOne Financial Group Inc. now owns 8,610 shares of the oilfield services company’s stock valued at $250,000 after acquiring an additional 359 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Halliburton by 0.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 154,210 shares of the oilfield services company’s stock worth $4,480,000 after purchasing an additional 390 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Halliburton by 28.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock valued at $51,000 after purchasing an additional 393 shares during the last quarter. HBW Advisory Services LLC raised its holdings in shares of Halliburton by 3.9% during the 4th quarter. HBW Advisory Services LLC now owns 10,504 shares of the oilfield services company’s stock valued at $286,000 after buying an additional 397 shares in the last quarter. Finally, Blume Capital Management Inc. lifted its position in Halliburton by 33.3% in the 4th quarter. Blume Capital Management Inc. now owns 1,600 shares of the oilfield services company’s stock worth $44,000 after buying an additional 400 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

Insider Transactions at Halliburton

In other news, VP Timothy Mckeon sold 10,497 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $24.60, for a total value of $258,226.20. Following the sale, the vice president now directly owns 77,784 shares of the company’s stock, valued at $1,913,486.40. The trade was a 11.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Eric Carre sold 51,179 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $25.00, for a total value of $1,279,475.00. Following the completion of the sale, the chief financial officer now owns 127,101 shares in the company, valued at $3,177,525. The trade was a 28.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,782 shares of company stock valued at $5,321,170 in the last three months. 0.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

HAL has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price target on shares of Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Evercore ISI decreased their target price on shares of Halliburton from $43.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 15th. Raymond James downgraded shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a research note on Monday, January 6th. Stifel Nicolaus reduced their price objective on Halliburton from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $34.00 target price on shares of Halliburton in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.42.

Halliburton Trading Up 3.4 %

NYSE HAL opened at $25.59 on Tuesday. The firm has a market capitalization of $22.21 billion, a PE ratio of 9.04, a P/E/G ratio of 3.79 and a beta of 1.84. The stock’s 50 day moving average is $26.28 and its 200 day moving average is $28.03. Halliburton has a twelve month low of $23.42 and a twelve month high of $41.56. The company has a quick ratio of 1.54, a current ratio of 2.05 and a debt-to-equity ratio of 0.68.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Wednesday, March 5th. Halliburton’s dividend payout ratio (DPR) is presently 24.03%.

About Halliburton

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.