Retirement Systems of Alabama lifted its stake in shares of Halliburton (NYSE:HAL – Get Rating) by 0.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 297,724 shares of the oilfield services company’s stock after buying an additional 1,129 shares during the period. Retirement Systems of Alabama’s holdings in Halliburton were worth $11,275,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Rather & Kittrell Inc. purchased a new position in shares of Halliburton during the fourth quarter valued at approximately $25,000. City State Bank bought a new position in shares of Halliburton in the fourth quarter valued at approximately $36,000. UMB Bank N A MO purchased a new stake in shares of Halliburton during the fourth quarter valued at approximately $37,000. Trust Co. of Vermont bought a new stake in Halliburton during the fourth quarter worth $41,000. Finally, Covestor Ltd purchased a new position in Halliburton in the fourth quarter worth $42,000. 79.17% of the stock is currently owned by institutional investors.
In other news, VP Timothy Mckeon sold 4,900 shares of the stock in a transaction on Thursday, April 14th. The shares were sold at an average price of $41.00, for a total value of $200,900.00. Following the transaction, the vice president now owns 43,782 shares of the company’s stock, valued at approximately $1,795,062. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lawrence J. Pope sold 48,500 shares of the firm’s stock in a transaction on Friday, April 8th. The shares were sold at an average price of $39.95, for a total transaction of $1,937,575.00. Following the sale, the executive vice president now owns 314,080 shares in the company, valued at approximately $12,547,496. The disclosure for this sale can be found here. Insiders sold a total of 207,412 shares of company stock worth $8,432,979 over the last 90 days. Corporate insiders own 0.57% of the company’s stock.
Shares of Halliburton stock opened at $31.43 on Monday. The company’s 50-day moving average price is $36.55 and its 200-day moving average price is $33.87. The company has a current ratio of 2.19, a quick ratio of 1.61 and a debt-to-equity ratio of 1.21. Halliburton has a 12-month low of $17.82 and a 12-month high of $43.99. The company has a market cap of $28.35 billion, a price-to-earnings ratio of 18.17 and a beta of 2.30.
Halliburton (NYSE:HAL – Get Rating) last posted its earnings results on Tuesday, April 19th. The oilfield services company reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.20 billion. Halliburton had a net margin of 9.61% and a return on equity of 17.83%. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 EPS. On average, sell-side analysts predict that Halliburton will post 1.91 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 22nd. Investors of record on Wednesday, June 1st were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Tuesday, May 31st. Halliburton’s payout ratio is 27.75%.
Several brokerages have recently issued reports on HAL. StockNews.com lowered Halliburton from a “buy” rating to a “hold” rating in a research report on Thursday, April 28th. Bank of America raised their target price on Halliburton from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, April 20th. HSBC raised Halliburton from a “hold” rating to a “buy” rating and raised their target price for the company from $36.60 to $41.60 in a research report on Wednesday, April 27th. Royal Bank of Canada upped their price objective on Halliburton from $45.00 to $49.00 in a research note on Wednesday, April 20th. Finally, Citigroup raised their target price on Halliburton from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, April 20th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Halliburton currently has a consensus rating of “Moderate Buy” and an average target price of $38.08.
About Halliburton (Get Rating)
Halliburton Company provides products and services to the energy industry worldwide. It operates in 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; 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; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.
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