Korea Investment CORP Grows Position in Halliburton Company $HAL

Korea Investment CORP lifted its holdings in Halliburton Company (NYSE:HAL) by 30.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 857,909 shares of the oilfield services company’s stock after buying an additional 201,758 shares during the period. Korea Investment CORP owned approximately 0.10% of Halliburton worth $17,484,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC purchased a new position in shares of Halliburton during the 2nd quarter worth approximately $287,000. V Square Quantitative Management LLC raised its position in Halliburton by 82.1% in the second quarter. V Square Quantitative Management LLC now owns 48,900 shares of the oilfield services company’s stock valued at $997,000 after purchasing an additional 22,045 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Halliburton by 42.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 308,099 shares of the oilfield services company’s stock valued at $7,816,000 after purchasing an additional 91,791 shares during the period. Perpetual Ltd lifted its stake in Halliburton by 29.7% during the second quarter. Perpetual Ltd now owns 1,081,928 shares of the oilfield services company’s stock worth $22,050,000 after purchasing an additional 248,015 shares in the last quarter. Finally, Jump Financial LLC boosted its position in shares of Halliburton by 2,895.2% during the first quarter. Jump Financial LLC now owns 756,150 shares of the oilfield services company’s stock worth $19,184,000 after buying an additional 730,905 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Halliburton news, insider Mark Richard sold 160,000 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $27.77, for a total value of $4,443,200.00. Following the sale, the insider directly owned 452,374 shares in the company, valued at $12,562,425.98. This trade represents a 26.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HAL shares. BMO Capital Markets boosted their price objective on Halliburton from $28.00 to $31.00 in a report on Tuesday, November 11th. Stifel Nicolaus set a $32.00 target price on Halliburton in a research report on Wednesday, October 22nd. The Goldman Sachs Group boosted their price target on shares of Halliburton from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Citigroup reissued a “buy” rating on shares of Halliburton in a research report on Tuesday, October 14th. Finally, HSBC set a $30.00 price objective on shares of Halliburton and gave the company a “buy” rating in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.55.

Halliburton Stock Performance

Shares of Halliburton stock opened at $26.28 on Friday. The business has a 50-day simple moving average of $25.41 and a 200-day simple moving average of $22.88. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.43 and a current ratio of 1.95. Halliburton Company has a one year low of $18.72 and a one year high of $32.17. The company has a market cap of $22.11 billion, a PE ratio of 17.40 and a beta of 1.03.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, October 21st. The oilfield services company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. Halliburton had a net margin of 5.91% and a return on equity of 20.12%. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. On average, equities research analysts forecast that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.17 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.6%. Halliburton’s payout ratio is presently 45.03%.

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.