Crestline Management LP Invests $914,000 in Halliburton (NYSE:HAL)

Crestline Management LP bought a new position in shares of Halliburton (NYSE:HAL) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 33,600 shares of the oilfield services company’s stock, valued at approximately $914,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Horrell Capital Management Inc. purchased a new position in Halliburton in the 4th quarter worth approximately $33,000. Sierra Ocean LLC purchased a new position in shares of Halliburton in the fourth quarter valued at $36,000. Blume Capital Management Inc. grew its holdings in Halliburton by 33.3% during the 4th quarter. Blume Capital Management Inc. now owns 1,600 shares of the oilfield services company’s stock valued at $44,000 after purchasing an additional 400 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in Halliburton during the 4th quarter worth $52,000. Finally, Quent Capital LLC boosted its position in Halliburton by 261.1% in the 4th quarter. Quent Capital LLC now owns 2,246 shares of the oilfield services company’s stock valued at $61,000 after buying an additional 1,624 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Buying and Selling

In related news, Director Margaret Katherine Banks sold 3,900 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $24.04, for a total transaction of $93,756.00. Following the completion of the sale, the director now directly owns 10,551 shares of the company’s stock, valued at $253,646.04. This represents a 26.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Eric Carre sold 141,206 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $26.13, for a total value of $3,689,712.78. Following the completion of the transaction, the chief financial officer now directly owns 127,101 shares in the company, valued at $3,321,149.13. This represents a 52.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,782 shares of company stock valued at $5,321,170 over the last quarter. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

HAL has been the topic of several recent analyst reports. UBS Group cut their price target on Halliburton from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Evercore ISI reduced their target price on Halliburton from $43.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, January 15th. The Goldman Sachs Group dropped their price target on shares of Halliburton from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company reduced their price objective on shares of Halliburton from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Finally, Susquehanna cut their target price on shares of Halliburton from $32.00 to $30.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.84.

Halliburton Price Performance

Shares of NYSE:HAL opened at $20.38 on Friday. The firm’s 50 day moving average is $22.54 and its two-hundred day moving average is $26.15. The firm has a market capitalization of $17.52 billion, a P/E ratio of 7.20, a PEG ratio of 3.79 and a beta of 1.19. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. Halliburton has a 52 week low of $18.72 and a 52 week high of $38.35.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, April 22nd. The oilfield services company reported $0.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.60. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Halliburton had a return on equity of 26.03% and a net margin of 10.90%. Analysts anticipate that Halliburton will post 2.64 earnings per share for the current year.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were paid a dividend of $0.17 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.34%. Halliburton’s dividend payout ratio is presently 28.45%.

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.