First Commonwealth Financial Corp PA reduced its holdings in Halliburton (NYSE:HAL) by 16.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,049 shares of the oilfield services company’s stock after selling 1,939 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Halliburton were worth $491,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Sanders Capital LLC acquired a new stake in Halliburton during the fourth quarter worth about $163,920,000. Beutel Goodman & Co Ltd. acquired a new stake in Halliburton during the fourth quarter worth about $118,644,000. BlackRock Inc. increased its stake in Halliburton by 3.9% during the fourth quarter. BlackRock Inc. now owns 63,837,947 shares of the oilfield services company’s stock worth $3,119,761,000 after acquiring an additional 2,421,658 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in Halliburton during the fourth quarter worth about $105,979,000. Finally, Mackenzie Financial Corp increased its stake in Halliburton by 409.5% during the fourth quarter. Mackenzie Financial Corp now owns 2,203,182 shares of the oilfield services company’s stock worth $107,670,000 after acquiring an additional 1,770,781 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.
Several equities research analysts have commented on HAL shares. Guggenheim upgraded Halliburton from a “neutral” rating to a “buy” rating in a research note on Monday, January 22nd. Piper Jaffray Companies set a $52.00 price target on Halliburton and gave the stock a “buy” rating in a research note on Thursday, December 14th. Wells Fargo restated an “outperform” rating and set a $56.00 price target (up from $51.00) on shares of Halliburton in a research note on Thursday, December 21st. Zacks Investment Research upgraded Halliburton from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Tuesday, December 26th. Finally, Royal Bank of Canada set a $60.00 price target on Halliburton and gave the stock a “buy” rating in a research note on Thursday, December 21st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the stock. Halliburton has an average rating of “Buy” and a consensus target price of $58.83.
In related news, EVP Robb L. Voyles sold 39,287 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $55.00, for a total value of $2,160,785.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Timothy Mckeon sold 1,609 shares of the stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $48.99, for a total value of $78,824.91. Following the completion of the transaction, the insider now directly owns 18,612 shares of the company’s stock, valued at approximately $911,801.88. The disclosure for this sale can be found here. Insiders sold 125,922 shares of company stock valued at $6,706,509 in the last three months. 0.47% of the stock is currently owned by company insiders.
HAL stock opened at $45.49 on Wednesday. The company has a market capitalization of $39,090.97, a PE ratio of -85.83, a P/E/G ratio of 2.19 and a beta of 1.07. Halliburton has a 1-year low of $38.18 and a 1-year high of $57.86. The company has a quick ratio of 1.72, a current ratio of 2.22 and a debt-to-equity ratio of 1.25.
Halliburton (NYSE:HAL) last issued its quarterly earnings results on Monday, January 22nd. The oilfield services company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.63 billion. Halliburton had a positive return on equity of 11.95% and a negative net margin of 2.25%. Halliburton’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.04 earnings per share. equities analysts forecast that Halliburton will post 2.54 EPS for the current fiscal 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 issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, March 6th. Halliburton’s dividend payout ratio is currently -135.85%.
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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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