Velanne Asset Management Ltd grew its position in Halliburton (NYSE:HAL) by 4.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 136,429 shares of the oilfield services company’s stock after acquiring an additional 5,354 shares during the period. Halliburton comprises approximately 2.8% of Velanne Asset Management Ltd’s investment portfolio, making the stock its 18th biggest position. Velanne Asset Management Ltd’s holdings in Halliburton were worth $3,997,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the business. SevenBridge Financial Group LLC raised its position in shares of Halliburton by 387.5% during the 4th quarter. SevenBridge Financial Group LLC now owns 975 shares of the oilfield services company’s stock worth $26,000 after purchasing an additional 775 shares during the last quarter. Essex Savings Bank acquired a new position in shares of Halliburton during the 4th quarter worth about $27,000. Paragon Capital Management LLC acquired a new position in shares of Halliburton during the 1st quarter worth about $29,000. American Research & Management Co. acquired a new position in shares of Halliburton during the 1st quarter worth about $29,000. Finally, CX Institutional acquired a new position in shares of Halliburton during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 80.94% of the company’s stock.
Shares of NYSE:HAL traded up $0.18 during mid-day trading on Wednesday, reaching $31.99. 3,691,335 shares of the company were exchanged, compared to its average volume of 8,627,412. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.69 and a current ratio of 2.32. The stock has a market capitalization of $27.31 billion, a P/E ratio of 16.83, a PEG ratio of 2.00 and a beta of 1.17. Halliburton has a 1 year low of $24.70 and a 1 year high of $54.91.
Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, January 22nd. The oilfield services company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.04. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.87 billion. Halliburton had a net margin of 6.90% and a return on equity of 18.57%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. Research analysts forecast that Halliburton will post 1.35 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.25%. Halliburton’s payout ratio is currently 37.89%.
In related news, CFO Lance Loeffler sold 5,926 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $28.35, for a total transaction of $168,002.10. Following the completion of the transaction, the chief financial officer now owns 55,885 shares of the company’s stock, valued at approximately $1,584,339.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.
Several research analysts recently weighed in on HAL shares. Societe Generale upgraded shares of Halliburton from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. UBS Group set a $42.00 price objective on shares of Halliburton and gave the company a “buy” rating in a report on Thursday, December 20th. Zacks Investment Research reiterated a “hold” rating on shares of Halliburton in a report on Monday, December 31st. Wells Fargo & Co reiterated a “buy” rating on shares of Halliburton in a report on Sunday, January 6th. Finally, Cowen upgraded shares of Halliburton from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $45.00 to $35.00 in a report on Thursday, January 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $45.38.
Halliburton Company Profile
Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
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