Mirae Asset Global Investments Co. Ltd. Acquires 25,234 Shares of Halliburton Company $HAL

Mirae Asset Global Investments Co. Ltd. increased its holdings in Halliburton Company (NYSE:HAL) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 917,982 shares of the oilfield services company’s stock after purchasing an additional 25,234 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Halliburton were worth $22,582,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in HAL. Newbridge Financial Services Group Inc. purchased a new position in shares of Halliburton in the second quarter worth about $25,000. Cullen Frost Bankers Inc. bought a new position in Halliburton during the 3rd quarter worth approximately $25,000. Rakuten Securities Inc. increased its stake in Halliburton by 547.3% in the 2nd quarter. Rakuten Securities Inc. now owns 1,586 shares of the oilfield services company’s stock worth $32,000 after purchasing an additional 1,341 shares during the period. Root Financial Partners LLC bought a new stake in Halliburton in the third quarter valued at approximately $32,000. Finally, Cape Investment Advisory Inc. boosted its stake in shares of Halliburton by 111.9% during the second quarter. Cape Investment Advisory Inc. now owns 1,704 shares of the oilfield services company’s stock valued at $35,000 after purchasing an additional 900 shares during the period. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Halliburton

In other Halliburton news, EVP Lawrence J. Pope sold 100,000 shares of Halliburton stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $32.25, for a total value of $3,225,000.00. Following the completion of the transaction, the executive vice president directly owned 419,800 shares of the company’s stock, valued at approximately $13,538,550. The trade was a 19.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey Allen Miller sold 171,200 shares of Halliburton stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $34.96, for a total value of $5,985,152.00. Following the completion of the sale, the chief executive officer directly owned 1,101,243 shares of the company’s stock, valued at approximately $38,499,455.28. The trade was a 13.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 497,002 shares of company stock valued at $15,889,138. 0.56% of the stock is currently owned by company insiders.

Halliburton Stock Performance

Halliburton stock opened at $33.40 on Friday. Halliburton Company has a fifty-two week low of $18.72 and a fifty-two week high of $35.55. The stock’s 50 day simple moving average is $29.57 and its two-hundred day simple moving average is $25.61. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.51 and a current ratio of 2.04. The stock has a market cap of $28.11 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.99 and a beta of 0.78.

Halliburton (NYSE:HAL) last released its earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.14. Halliburton had a return on equity of 19.77% and a net margin of 5.78%.The company had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the business posted $0.73 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, analysts expect that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, December 3rd. Halliburton’s dividend payout ratio (DPR) is presently 45.03%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HAL. Morgan Stanley reaffirmed an “overweight” rating and issued a $35.00 target price on shares of Halliburton in a research note on Wednesday, January 21st. Zephirin Group cut shares of Halliburton from a “buy” rating to a “hold” rating and decreased their price objective for the company from $30.00 to $28.00 in a research report on Friday, January 23rd. Redburn Partners set a $35.00 target price on shares of Halliburton in a report on Monday, November 3rd. BMO Capital Markets boosted their price target on Halliburton from $36.00 to $39.00 and gave the company a “market perform” rating in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada upped their price target on Halliburton from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.57.

About Halliburton

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.