Country Trust Bank Raises Holdings in Halliburton (HAL)

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Country Trust Bank boosted its holdings in Halliburton (NYSE:HAL) by 9.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 563,691 shares of the oilfield services company’s stock after acquiring an additional 46,902 shares during the quarter. Country Trust Bank owned about 0.06% of Halliburton worth $16,516,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of HAL. American Research & Management Co. acquired a new stake in Halliburton during the 1st quarter worth about $29,000. Pennsylvania Trust Co raised its holdings in Halliburton by 15.6% during the 1st quarter. Pennsylvania Trust Co now owns 47,526 shares of the oilfield services company’s stock worth $5,829,000 after buying an additional 6,411 shares during the period. Steinberg Global Asset Management acquired a new stake in Halliburton during the 1st quarter worth about $1,397,000. Flagship Harbor Advisors LLC raised its holdings in Halliburton by 8.4% during the 1st quarter. Flagship Harbor Advisors LLC now owns 4,392 shares of the oilfield services company’s stock worth $128,000 after buying an additional 342 shares during the period. Finally, Paragon Capital Management LLC acquired a new stake in Halliburton during the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 80.94% of the company’s stock.

Halliburton stock traded up $0.26 during trading hours on Wednesday, reaching $32.07. 76,691 shares of the company were exchanged, compared to its average volume of 8,627,412. The stock has a market capitalization of $27.31 billion, a P/E ratio of 16.87, a PEG ratio of 2.00 and a beta of 1.17. The company has a quick ratio of 1.69, a current ratio of 2.32 and a debt-to-equity ratio of 1.09. Halliburton has a 12 month low of $24.70 and a 12 month high of $54.91.

Halliburton (NYSE:HAL) last announced its earnings results on Tuesday, January 22nd. The oilfield services company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Halliburton had a return on equity of 18.57% and a net margin of 6.90%. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.87 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. The company’s revenue was down .1% on a year-over-year basis. Sell-side analysts anticipate that Halliburton will post 1.35 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.25%. Halliburton’s dividend payout ratio is presently 37.89%.

In other news, CFO Lance Loeffler sold 5,926 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $28.35, for a total transaction of $168,002.10. Following the transaction, the chief financial officer now directly owns 55,885 shares in the company, valued at $1,584,339.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by company insiders.

Several analysts have issued reports on HAL shares. Zacks Investment Research upgraded Halliburton from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 13th. Goldman Sachs Group initiated coverage on Halliburton in a research note on Sunday, March 10th. They set a “buy” rating and a $42.00 target price on the stock. Stifel Nicolaus set a $36.00 target price on Halliburton and gave the company a “buy” rating in a research note on Tuesday, January 22nd. Morgan Stanley set a $36.00 target price on Halliburton and gave the company a “buy” rating in a research note on Wednesday, January 23rd. Finally, Cowen raised Halliburton from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $45.00 to $35.00 in a research note on Thursday, January 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $45.38.

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About Halliburton

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.

Further Reading: What is the Gross Domestic Product (GDP)?

Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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