CIBC Asset Management Inc Buys 97,083 Shares of Halliburton Company $HAL

CIBC Asset Management Inc increased its stake in shares of Halliburton Company (NYSE:HAL) by 80.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 218,174 shares of the oilfield services company’s stock after buying an additional 97,083 shares during the quarter. CIBC Asset Management Inc’s holdings in Halliburton were worth $6,166,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Capital Research Global Investors raised its position in Halliburton by 81.8% in the 3rd quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company’s stock valued at $2,239,349,000 after purchasing an additional 40,969,139 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Halliburton by 82,596.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after purchasing an additional 29,735,387 shares during the last quarter. Sanders Capital LLC increased its holdings in Halliburton by 9.4% in the third quarter. Sanders Capital LLC now owns 26,004,682 shares of the oilfield services company’s stock valued at $639,715,000 after purchasing an additional 2,238,983 shares during the last quarter. Strive Asset Management LLC bought a new stake in Halliburton in the third quarter valued at about $418,738,000. Finally, AQR Capital Management LLC grew its stake in Halliburton by 85.5% in the second quarter. AQR Capital Management LLC now owns 8,610,870 shares of the oilfield services company’s stock valued at $175,490,000 after acquiring an additional 3,969,759 shares during the period. Institutional investors own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Halliburton from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Barclays upgraded Halliburton from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $37.00 to $55.00 in a report on Thursday, May 7th. JPMorgan Chase & Co. upped their target price on Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Rothschild & Co Redburn upped their price objective on Halliburton from $40.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Citigroup upped their price objective on Halliburton from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday. Eighteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Halliburton currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.27.

Insider Buying and Selling at Halliburton

In related news, insider Michael Casey Maxwell sold 20,348 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $41.89, for a total transaction of $852,377.72. Following the sale, the insider owned 93,763 shares of the company’s stock, valued at $3,927,732.07. This represents a 17.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Van H. Beckwith sold 198,349 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $41.29, for a total value of $8,189,830.21. Following the sale, the executive vice president directly owned 146,186 shares in the company, valued at $6,036,019.94. This represents a 57.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 416,991 shares of company stock valued at $16,846,948 over the last ninety days. 0.57% of the stock is owned by corporate insiders.

Halliburton Price Performance

Shares of NYSE HAL opened at $39.12 on Friday. The firm has a market cap of $32.68 billion, a P/E ratio of 21.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.69. Halliburton Company has a 1-year low of $20.09 and a 1-year high of $43.59. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average is $39.77 and its 200-day moving average is $34.55.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. The business had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.37 billion. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 earnings per share. Equities research analysts predict that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.7%. Halliburton’s dividend payout ratio is currently 37.36%.

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.