BI Asset Management Fondsmaeglerselskab A S Boosts Stock Holdings in Halliburton Company $HAL

BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Halliburton Company (NYSE:HAL) by 33.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,570 shares of the oilfield services company’s stock after buying an additional 14,299 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Halliburton were worth $1,599,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Nvest Wealth Strategies Inc. purchased a new stake in Halliburton during the 4th quarter worth approximately $25,000. Kelleher Financial Advisors acquired a new position in shares of Halliburton during the 3rd quarter worth approximately $25,000. GoalVest Advisory LLC acquired a new position in shares of Halliburton during the 4th quarter worth approximately $35,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Halliburton during the 2nd quarter worth approximately $25,000. Finally, Strive Asset Management LLC acquired a new position in shares of Halliburton during the 3rd quarter worth approximately $31,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Halliburton

In related news, VP Timothy Mckeon sold 8,655 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $42.00, for a total value of $363,510.00. Following the transaction, the vice president directly owned 72,976 shares in the company, valued at approximately $3,064,992. This represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Van H. Beckwith sold 198,349 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $41.29, for a total value of $8,189,830.21. Following the completion of the transaction, the executive vice president owned 146,186 shares in the company, valued at $6,036,019.94. This represents a 57.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 416,991 shares of company stock valued at $16,846,948 in the last ninety days. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HAL. Wall Street Zen cut Halliburton from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 3rd. HSBC boosted their target price on Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Citigroup boosted their target price on Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Jefferies Financial Group restated a “buy” rating and set a $47.00 target price on shares of Halliburton in a report on Sunday, April 26th. Finally, Rothschild & Co Redburn boosted their target price on Halliburton from $40.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Eighteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.27.

Halliburton Trading Down 2.2%

HAL opened at $39.60 on Wednesday. Halliburton Company has a one year low of $20.09 and a one year high of $43.59. The stock has a market capitalization of $33.08 billion, a PE ratio of 21.76, a P/E/G ratio of 1.75 and a beta of 0.69. The business’s 50 day moving average price is $39.79 and its 200 day moving average price is $34.80. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The firm had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was down .3% on a year-over-year basis. As a group, equities research analysts expect that Halliburton Company will post 2.34 EPS for the current year.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd will be issued a $0.17 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.7%. Halliburton’s dividend payout ratio is currently 37.36%.

Halliburton Profile

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.