CIBC Asset Management Inc Buys 11,002 Shares of Halliburton (NYSE:HAL)

CIBC Asset Management Inc lifted its stake in shares of Halliburton (NYSE:HALGet Rating) by 10.1% during the third quarter, HoldingsChannel reports. The firm owned 120,336 shares of the oilfield services company’s stock after acquiring an additional 11,002 shares during the quarter. CIBC Asset Management Inc’s holdings in Halliburton were worth $2,963,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp raised its stake in shares of Halliburton by 0.7% during the 2nd quarter. State Street Corp now owns 58,142,233 shares of the oilfield services company’s stock worth $1,823,340,000 after purchasing an additional 377,143 shares in the last quarter. FMR LLC raised its stake in shares of Halliburton by 29.1% during the 2nd quarter. FMR LLC now owns 53,246,045 shares of the oilfield services company’s stock worth $1,669,796,000 after purchasing an additional 12,006,012 shares in the last quarter. Northern Trust Corp raised its stake in shares of Halliburton by 1.1% during the 2nd quarter. Northern Trust Corp now owns 9,288,329 shares of the oilfield services company’s stock worth $291,283,000 after purchasing an additional 102,105 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Halliburton by 16.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 7,427,679 shares of the oilfield services company’s stock valued at $232,932,000 after acquiring an additional 1,072,778 shares during the period. Finally, Legal & General Group Plc raised its stake in Halliburton by 7.9% in the 2nd quarter. Legal & General Group Plc now owns 6,976,857 shares of the oilfield services company’s stock valued at $218,794,000 after acquiring an additional 513,048 shares during the period. Institutional investors own 80.56% of the company’s stock.

Halliburton Stock Performance

HAL opened at $39.84 on Wednesday. The firm has a market cap of $36.18 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 0.31 and a beta of 2.15. Halliburton has a 52-week low of $23.30 and a 52-week high of $43.99. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.52 and a current ratio of 2.10. The business’s fifty day moving average is $38.23 and its 200-day moving average is $33.14.

Halliburton (NYSE:HALGet Rating) last released its earnings results 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 company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.59 billion. Halliburton had a return on equity of 22.69% and a net margin of 9.16%. Halliburton’s quarterly revenue was up 30.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 EPS. Sell-side analysts expect that Halliburton will post 2.11 EPS for the current fiscal year.

Halliburton Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on HAL shares. Benchmark started coverage on Halliburton in a research note on Thursday, January 19th. They issued a “buy” rating and a $50.00 price target on the stock. Wolfe Research upgraded Halliburton from an “underperform” rating to an “outperform” rating and set a $51.00 price target on the stock in a research note on Thursday, January 12th. Raymond James started coverage on Halliburton in a research note on Friday, December 9th. They issued a “strong-buy” rating and a $53.00 price target on the stock. Wells Fargo & Company upgraded Halliburton from an “equal weight” rating to an “overweight” rating and set a $52.00 price target on the stock in a research note on Wednesday, October 26th. Finally, HSBC increased their price target on Halliburton to $43.90 in a research note on Thursday, October 27th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.66.

Insider Activity at Halliburton

In related news, CFO Eric Carre sold 12,325 shares of the firm’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $39.91, for a total value of $491,890.75. Following the sale, the chief financial officer now directly owns 128,178 shares of the company’s stock, valued at $5,115,583.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Eric Carre sold 12,325 shares of the firm’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $39.91, for a total value of $491,890.75. Following the sale, the chief financial officer now directly owns 128,178 shares of the company’s stock, valued at $5,115,583.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Margaret Katherine Banks sold 6,000 shares of the firm’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $35.49, for a total value of $212,940.00. Following the completion of the sale, the director now directly owns 14,625 shares in the company, valued at $519,041.25. The disclosure for this sale can be found here. Insiders have sold 59,153 shares of company stock valued at $2,305,715 over the last ninety days. 0.57% of the stock is owned by corporate insiders.

Halliburton Profile

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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

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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