CIBC Asset Management Inc Sells 6,039 Shares of Halliburton (NYSE:HAL)

CIBC Asset Management Inc reduced its holdings in shares of Halliburton (NYSE:HALFree Report) by 4.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,102 shares of the oilfield services company’s stock after selling 6,039 shares during the period. CIBC Asset Management Inc’s holdings in Halliburton were worth $4,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Halliburton during the fourth quarter worth $400,070,000. Dimensional Fund Advisors LP lifted its position in Halliburton by 24.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,878,811 shares of the oilfield services company’s stock worth $284,822,000 after acquiring an additional 1,568,485 shares during the period. Sourcerock Group LLC lifted its position in Halliburton by 237.6% during the 3rd quarter. Sourcerock Group LLC now owns 1,677,194 shares of the oilfield services company’s stock worth $67,926,000 after acquiring an additional 1,180,406 shares during the period. Jennison Associates LLC increased its holdings in shares of Halliburton by 51.2% in the fourth quarter. Jennison Associates LLC now owns 2,539,062 shares of the oilfield services company’s stock valued at $91,787,000 after purchasing an additional 859,440 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its stake in shares of Halliburton by 1,507.6% in the third quarter. Schonfeld Strategic Advisors LLC now owns 852,357 shares of the oilfield services company’s stock worth $34,520,000 after purchasing an additional 799,337 shares during the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total transaction of $369,200.00. Following the completion of the sale, the executive vice president now directly owns 283,908 shares in the company, valued at $10,481,883.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Jill D. Sharp sold 3,346 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $37.00, for a total value of $123,802.00. Following the transaction, the senior vice president now owns 40,185 shares of the company’s stock, valued at approximately $1,486,845. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $36.92, for a total value of $369,200.00. Following the sale, the executive vice president now directly owns 283,908 shares of the company’s stock, valued at $10,481,883.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,287 shares of company stock valued at $1,930,704. 0.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company dropped their target price on Halliburton from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Jefferies Financial Group upped their price objective on shares of Halliburton from $49.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Benchmark reissued a “buy” rating and set a $45.00 target price on shares of Halliburton in a report on Wednesday, April 24th. UBS Group lifted their price target on Halliburton from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Finally, TD Cowen boosted their target price on shares of Halliburton from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Halliburton currently has a consensus rating of “Buy” and a consensus price target of $48.59.

Read Our Latest Stock Report on HAL

Halliburton Stock Performance

Shares of NYSE:HAL opened at $33.47 on Thursday. Halliburton has a 1 year low of $30.04 and a 1 year high of $43.85. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.12 and a quick ratio of 1.52. The business’s 50 day moving average price is $37.97 and its 200-day moving average price is $36.69. The firm has a market capitalization of $29.63 billion, a PE ratio of 11.58, a P/E/G ratio of 0.86 and a beta of 1.93.

Halliburton (NYSE:HALGet Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. Halliburton’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 EPS. As a group, equities research analysts expect that Halliburton will post 3.39 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Wednesday, June 5th. Halliburton’s dividend payout ratio (DPR) is presently 23.53%.

About Halliburton

(Free Report)

Halliburton Company provides products and services to the energy industry worldwide. It operates through 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; and 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.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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