ProShare Advisors LLC Raises Position in Halliburton (NYSE:HAL)

ProShare Advisors LLC raised its stake in shares of Halliburton (NYSE:HAL) by 13.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,065 shares of the oilfield services company’s stock after purchasing an additional 23,708 shares during the period. ProShare Advisors LLC’s holdings in Halliburton were worth $6,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ossiam raised its position in Halliburton by 1,434.1% during the fourth quarter. Ossiam now owns 629 shares of the oilfield services company’s stock valued at $25,000 after purchasing an additional 588 shares during the period. Quarry LP purchased a new stake in Halliburton during the first quarter valued at approximately $34,000. KB Financial Partners LLC purchased a new stake in Halliburton during the first quarter valued at approximately $35,000. Sandy Spring Bank raised its holdings in shares of Halliburton by 552.5% in the first quarter. Sandy Spring Bank now owns 1,305 shares of the oilfield services company’s stock worth $41,000 after buying an additional 1,105 shares during the period. Finally, Live Oak Investment Partners purchased a new stake in shares of Halliburton in the fourth quarter worth approximately $43,000. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HAL. JPMorgan Chase & Co. reduced their price target on Halliburton from $50.00 to $45.00 in a report on Thursday, July 20th. Capital One Financial assumed coverage on Halliburton in a research note on Wednesday, June 7th. They issued an “overweight” rating and a $41.00 price objective on the stock. Morgan Stanley reissued an “overweight” rating and issued a $45.00 price objective on shares of Halliburton in a research note on Tuesday, August 1st. Stifel Nicolaus dropped their price objective on Halliburton from $49.00 to $48.00 in a research note on Wednesday, July 12th. Finally, StockNews.com assumed coverage on Halliburton in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $48.21.

Insider Transactions at Halliburton

In related news, CEO Jeffrey Allen Miller sold 99,355 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $40.00, for a total value of $3,974,200.00. Following the completion of the transaction, the chief executive officer now owns 719,818 shares in the company, valued at approximately $28,792,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Eric Carre sold 66,589 shares of the firm’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $35.00, for a total value of $2,330,615.00. Following the completion of the transaction, the chief financial officer now owns 128,619 shares in the company, valued at approximately $4,501,665. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Allen Miller sold 99,355 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $40.00, for a total value of $3,974,200.00. Following the completion of the transaction, the chief executive officer now owns 719,818 shares of the company’s stock, valued at approximately $28,792,720. The disclosure for this sale can be found here. Insiders sold 202,599 shares of company stock valued at $7,777,309 in the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Halliburton Stock Down 0.2 %

Halliburton stock opened at $42.11 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.14 and a quick ratio of 1.53. The stock has a market capitalization of $37.84 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 0.70 and a beta of 2.18. Halliburton has a 1-year low of $23.30 and a 1-year high of $43.42. The business has a fifty day moving average price of $39.19 and a 200-day moving average price of $34.58.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Wednesday, July 19th. The oilfield services company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Halliburton had a return on equity of 31.01% and a net margin of 10.98%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS. Equities research analysts forecast that Halliburton will post 3.04 EPS for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be given a $0.16 dividend. The ex-dividend date is Tuesday, September 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.52%. Halliburton’s payout ratio is 23.53%.

Halliburton Company Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates in 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; 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; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.