Nykredit A S Acquires Shares of 362,629 Halliburton Company $HAL

Nykredit A S acquired a new stake in Halliburton Company (NYSE:HAL) in the second quarter, HoldingsChannel.com reports. The fund acquired 362,629 shares of the oilfield services company’s stock, valued at approximately $12,311,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Halliburton by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company’s stock valued at $2,353,000 after purchasing an additional 6,507 shares during the last quarter. Woodline Partners LP raised its position in shares of Halliburton by 39.0% in the first quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company’s stock valued at $1,861,000 after purchasing an additional 20,583 shares during the period. Focus Partners Wealth lifted its stake in shares of Halliburton by 25.0% during the 1st quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company’s stock worth $1,320,000 after buying an additional 10,408 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Halliburton by 309.1% during the 1st quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company’s stock worth $1,749,000 after buying an additional 52,092 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Halliburton during the 1st quarter worth about $895,000. 85.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on HAL shares. Citigroup upped their price target on shares of Halliburton from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Freedom Capital upgraded Halliburton from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 22nd. Rothschild & Co Redburn upped their target price on Halliburton from $40.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Barclays dropped their price target on Halliburton from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Finally, BMO Capital Markets set a $37.00 price target on Halliburton in a research note on Wednesday, July 22nd. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and an average target price of $43.10.

Halliburton Stock Performance

NYSE HAL opened at $37.05 on Friday. The firm has a 50-day moving average price of $34.07 and a two-hundred day moving average price of $36.63. Halliburton Company has a 12-month low of $21.46 and a 12-month high of $43.59. The company has a market capitalization of $30.87 billion, a P/E ratio of 19.40, a P/E/G ratio of 2.15 and a beta of 0.76. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.50 billion. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 earnings per share. Analysts anticipate that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Wednesday, September 2nd. Halliburton’s dividend payout ratio (DPR) is 35.60%.

Insider Buying and Selling at Halliburton

In related news, COO Jeffrey Slocum sold 52,572 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total value of $1,844,751.48. Following the transaction, the chief operating officer owned 118,730 shares in the company, valued at approximately $4,166,235.70. This trade represents a 30.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.89, for a total value of $889,282.42. Following the completion of the transaction, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at approximately $5,330,382.80. This trade represents a 14.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is owned by insiders.

Halliburton Company 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.