Pinnacle Associates Ltd. Increases Stake in Halliburton Company (HAL)

Pinnacle Associates Ltd. increased its holdings in Halliburton Company (NYSE:HAL) by 8.4% in the fourth quarter, HoldingsChannel reports. The firm owned 76,973 shares of the oilfield services company’s stock after acquiring an additional 5,994 shares during the period. Pinnacle Associates Ltd.’s holdings in Halliburton were worth $3,762,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Halliburton by 3.9% in the 4th quarter. BlackRock Inc. now owns 63,837,947 shares of the oilfield services company’s stock valued at $3,119,761,000 after purchasing an additional 2,421,658 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Halliburton by 9.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 17,051,088 shares of the oilfield services company’s stock valued at $784,822,000 after purchasing an additional 1,427,985 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Halliburton by 2.5% in the 3rd quarter. Macquarie Group Ltd. now owns 15,931,445 shares of the oilfield services company’s stock valued at $733,325,000 after purchasing an additional 384,565 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Halliburton by 4.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,570,534 shares of the oilfield services company’s stock valued at $578,622,000 after buying an additional 500,982 shares during the period. Finally, Jennison Associates LLC boosted its position in Halliburton by 1.5% during the 4th quarter. Jennison Associates LLC now owns 8,857,279 shares of the oilfield services company’s stock valued at $432,855,000 after buying an additional 130,567 shares during the period. 80.61% of the stock is owned by institutional investors.

Halliburton Company (HAL) opened at $48.45 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.22 and a quick ratio of 1.72. The stock has a market cap of $42,389.39, a PE ratio of 39.71, a P/E/G ratio of 2.37 and a beta of 0.97. Halliburton Company has a 12 month low of $38.18 and a 12 month high of $57.86.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Monday, January 22nd. The oilfield services company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.07. The company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.63 billion. Halliburton had a negative net margin of 2.25% and a positive return on equity of 11.95%. Halliburton’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same period last year, the business earned $0.04 EPS. analysts anticipate that Halliburton Company will post 2.56 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th will be paid a $0.18 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $0.72 annualized dividend and a dividend yield of 1.49%. Halliburton’s payout ratio is -135.85%.

Several equities research analysts have weighed in on HAL shares. Jefferies Group set a $57.00 price target on shares of Halliburton and gave the company a “buy” rating in a research report on Thursday, January 4th. Zacks Investment Research raised shares of Halliburton from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Tuesday, December 26th. Royal Bank of Canada set a $60.00 price target on shares of Halliburton and gave the company a “buy” rating in a research report on Thursday, December 21st. Piper Jaffray Companies set a $52.00 price target on shares of Halliburton and gave the company a “buy” rating in a research report on Thursday, December 14th. Finally, B. Riley reissued a “buy” rating on shares of Halliburton in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Halliburton currently has an average rating of “Buy” and an average price target of $59.59.

In other Halliburton news, VP Anne L. Beaty sold 2,937 shares of the firm’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $51.57, for a total transaction of $151,461.09. Following the completion of the sale, the vice president now directly owns 60,839 shares in the company, valued at approximately $3,137,467.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lawrence J. Pope sold 9,100 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $41.35, for a total transaction of $376,285.00. Following the sale, the executive vice president now owns 180,646 shares of the company’s stock, valued at $7,469,712.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,507 shares of company stock valued at $8,380,429. 0.46% of the stock is owned by company insiders.

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Halliburton Profile

Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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