K.J. Harrison & Partners Inc Makes New Investment in Halliburton Company $HAL

K.J. Harrison & Partners Inc bought a new stake in Halliburton Company (NYSE:HAL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 50,000 shares of the oilfield services company’s stock, valued at approximately $1,698,000.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new position in Halliburton during the second quarter valued at approximately $2,812,327,000. Northwestern Mutual Wealth Management Co. lifted its position in Halliburton by 82,596.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock worth $841,339,000 after buying an additional 29,735,387 shares in the last quarter. Capital Research Global Investors lifted its position in Halliburton by 21.1% in the 4th quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock worth $3,114,848,000 after buying an additional 19,190,520 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Halliburton during the 2nd quarter valued at $337,486,000. Finally, Norges Bank acquired a new stake in shares of Halliburton during the 4th quarter valued at $169,304,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Trading Up 1.1%

Halliburton stock opened at $34.81 on Tuesday. Halliburton Company has a one year low of $20.78 and a one year high of $43.59. The company’s fifty day moving average price is $34.31 and its two-hundred day moving average price is $36.48. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.50. The company has a market capitalization of $29.00 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.15 and a beta of 0.73.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 earnings per share. On average, analysts forecast that Halliburton Company will post 2.34 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, June 3rd. Halliburton’s payout ratio is 35.60%.

Insiders Place Their Bets

In other Halliburton news, CFO Eric Carre sold 24,778 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total transaction of $889,282.42. Following the completion of the sale, the chief financial officer owned 148,520 shares of the company’s stock, valued at $5,330,382.80. This represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HAL shares. Zephirin Group increased their price objective on Halliburton from $30.00 to $31.00 and gave the stock a “sell” rating in a report on Wednesday, April 22nd. TD Cowen dropped their target price on Halliburton from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Halliburton in a research note on Wednesday, July 8th. HSBC lifted their price target on Halliburton from $40.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, Citigroup increased their price objective on Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Eighteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.10.

Halliburton Company Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.