Halliburton (NYSE:HAL) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in shares of Halliburton (NYSE:HALGet Rating) by 10.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 120,336 shares of the oilfield services company’s stock after purchasing an additional 11,002 shares during the period. CIBC Asset Management Inc’s holdings in Halliburton were worth $2,963,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Kentucky Retirement Systems grew its holdings in shares of Halliburton by 16.9% during the second quarter. Kentucky Retirement Systems now owns 66,944 shares of the oilfield services company’s stock valued at $2,099,000 after buying an additional 9,669 shares during the last quarter. Avantax Advisory Services Inc. raised its position in shares of Halliburton by 30.8% in the second quarter. Avantax Advisory Services Inc. now owns 9,552 shares of the oilfield services company’s stock worth $300,000 after acquiring an additional 2,249 shares during the period. D.A. Davidson & CO. raised its position in shares of Halliburton by 161.5% in the second quarter. D.A. Davidson & CO. now owns 44,939 shares of the oilfield services company’s stock worth $1,409,000 after acquiring an additional 27,753 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Halliburton by 0.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 54,759 shares of the oilfield services company’s stock worth $1,717,000 after purchasing an additional 361 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of Halliburton by 67.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 5,988,632 shares of the oilfield services company’s stock worth $187,804,000 after purchasing an additional 2,408,261 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HAL. Morgan Stanley upped their price target on shares of Halliburton from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 4th. StockNews.com initiated coverage on shares of Halliburton in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. TheStreet raised shares of Halliburton from a “c” rating to a “b” rating in a research report on Tuesday, October 25th. Royal Bank of Canada increased their price objective on shares of Halliburton from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 26th. Finally, Jefferies Financial Group began coverage on shares of Halliburton in a research report on Wednesday, October 19th. They issued a “buy” rating and a $40.00 price target for the company. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.66.

Insider Transactions at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 4,295 shares of Halliburton stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $42.60, for a total transaction of $182,967.00. Following the sale, the executive vice president now owns 245,731 shares in the company, valued at $10,468,140.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Halliburton news, CFO Eric Carre sold 6,513 shares of Halliburton stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $37.50, for a total transaction of $244,237.50. Following the completion of the transaction, the chief financial officer now directly owns 119,691 shares of the company’s stock, valued at $4,488,412.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Van H. Beckwith sold 4,295 shares of Halliburton stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $42.60, for a total value of $182,967.00. Following the transaction, the executive vice president now directly owns 245,731 shares of the company’s stock, valued at $10,468,140.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,153 shares of company stock worth $2,305,715. Insiders own 0.57% of the company’s stock.

Halliburton Trading Down 1.8 %

Shares of HAL stock opened at $39.84 on Wednesday. The business’s 50 day moving average is $38.23 and its two-hundred day moving average is $33.14. The company has a market cap of $36.18 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 0.31 and a beta of 2.15. The company has a quick ratio of 1.52, a current ratio of 2.10 and a debt-to-equity ratio of 1.04. Halliburton has a 12 month low of $23.30 and a 12 month high of $43.99.

Halliburton (NYSE:HALGet Rating) last announced its quarterly earnings data on Tuesday, January 24th. The oilfield services company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.05. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.59 billion. Halliburton had a net margin of 9.16% and a return on equity of 22.69%. Halliburton’s quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the company posted $0.92 earnings per share. Equities analysts predict that Halliburton will post 2.11 EPS for the current year.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 21st. Stockholders of record on Thursday, December 8th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, December 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.20%. Halliburton’s payout ratio is 24.87%.

About Halliburton

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Halliburton Co engages in the provision of services and products to the energy industry related to the exploration, development and production of oil and natural gas. It operates through the following segments: Completion and Production and Drilling and Evaluation. The Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift and completion services.

Further Reading

Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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