BNP Paribas Makes New Investment in Halliburton (NYSE:HAL)

BNP Paribas bought a new position in Halliburton (NYSE:HALFree Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 14,235 shares of the oilfield services company’s stock, valued at approximately $561,000.

A number of other hedge funds have also added to or reduced their stakes in HAL. Norges Bank bought a new position in Halliburton in the 4th quarter worth about $400,070,000. Dimensional Fund Advisors LP grew its stake in Halliburton by 24.9% in 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 in the last quarter. Principal Financial Group Inc. grew its stake in Halliburton by 116.9% in the 1st quarter. Principal Financial Group Inc. now owns 2,483,230 shares of the oilfield services company’s stock worth $97,889,000 after acquiring an additional 1,338,371 shares in the last quarter. Wellington Management Group LLP grew its stake in Halliburton by 18.3% in the 4th quarter. Wellington Management Group LLP now owns 6,217,704 shares of the oilfield services company’s stock worth $224,770,000 after acquiring an additional 962,547 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Halliburton by 51.2% during 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 in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HAL. Citigroup dropped their price objective on shares of Halliburton from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. StockNews.com downgraded shares of Halliburton from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. Morgan Stanley increased their price objective on shares of Halliburton from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. UBS Group increased their price objective on shares of Halliburton from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, Susquehanna reiterated a “positive” rating and set a $49.00 price objective on shares of Halliburton in a research note on Monday, April 8th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Halliburton currently has a consensus rating of “Moderate Buy” and an average price target of $48.75.

Get Our Latest Research Report on HAL

Insider Buying and Selling

In related news, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 283,908 shares of the company’s stock, valued at $10,481,883.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Jeffrey Shannon Slocum sold 38,941 shares of Halliburton stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total value of $1,437,701.72. Following the sale, the insider now owns 130,783 shares in the company, valued at $4,828,508.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Van H. Beckwith sold 10,000 shares of Halliburton 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 owns 283,908 shares in the company, valued at approximately $10,481,883.36. The disclosure for this sale can be found here. Insiders sold a total of 52,287 shares of company stock valued at $1,930,704 over the last 90 days. Insiders own 0.61% of the company’s stock.

Halliburton Stock Performance

Shares of NYSE HAL traded up $0.05 during midday trading on Monday, reaching $33.15. The company had a trading volume of 958,260 shares, compared to its average volume of 7,225,060. The business’s 50-day simple moving average is $35.38 and its 200 day simple moving average is $36.26. The stock has a market cap of $29.35 billion, a P/E ratio of 11.45, a P/E/G ratio of 0.85 and a beta of 1.93. Halliburton has a 1 year low of $32.60 and a 1 year high of $43.85. The company has a current ratio of 2.12, a quick ratio of 1.52 and a debt-to-equity ratio of 0.79.

Halliburton (NYSE:HALGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The business 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%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share. On average, analysts forecast that Halliburton will post 3.37 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 5th were issued a dividend of $0.17 per share. The ex-dividend date was Wednesday, June 5th. This represents a $0.68 annualized dividend and a dividend yield of 2.05%. Halliburton’s dividend payout ratio (DPR) is presently 23.53%.

Halliburton Profile

(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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