PFG Private Wealth Management LLC increased its position in shares of Halliburton (NYSE:HAL – Get Rating) by 1,438.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,076 shares of the oilfield services company's stock after buying an additional 2,876 shares during the period. PFG Private Wealth Management LLC's holdings in Halliburton were worth $96,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the company. Rather & Kittrell Inc. purchased a new position in Halliburton in the fourth quarter valued at approximately $25,000. Hanseatic Management Services Inc. acquired a new stake in Halliburton in the first quarter valued at $25,000. Riverview Trust Co acquired a new stake in Halliburton in the first quarter valued at $27,000. First PREMIER Bank purchased a new position in shares of Halliburton in the first quarter valued at $27,000. Finally, Global Retirement Partners LLC increased its position in shares of Halliburton by 115.1% in the second quarter. Global Retirement Partners LLC now owns 940 shares of the oilfield services company's stock valued at $29,000 after buying an additional 503 shares in the last quarter. 80.60% of the stock is currently owned by hedge funds and other institutional investors.
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Halliburton Trading Up 1.9 %
Shares of NYSE HAL opened at $23.76 on Wednesday. Halliburton has a 12 month low of $20.77 and a 12 month high of $43.99. The company has a market cap of $21.55 billion, a price-to-earnings ratio of 14.94 and a beta of 2.11. The company has a quick ratio of 1.60, a current ratio of 2.15 and a debt-to-equity ratio of 1.19. The business has a fifty day simple moving average of $28.76 and a 200-day simple moving average of $33.55.
Halliburton (NYSE:HAL – Get Rating) last posted its quarterly earnings results on Tuesday, July 19th. The oilfield services company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.04. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.71 billion. Halliburton had a return on equity of 19.91% and a net
margin of 8.19%. Halliburton's quarterly revenue was up 36.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 earnings per share. Sell-side analysts predict that Halliburton will post 2.01 EPS for the current year.
Halliburton Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 7th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Tuesday, September 6th. Halliburton's payout ratio is currently 30.19%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on HAL. The Goldman Sachs Group dropped their price target on Halliburton from $46.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, July 13th. Barclays lifted their price objective on Halliburton from $50.00 to $53.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 8th. Morgan Stanley dropped their price objective on Halliburton from $45.00 to $40.00 and set an "overweight" rating for the company in a research report on Wednesday, July 13th. Stephens dropped their price objective on Halliburton to $32.00 in a research report on Friday, July 22nd. Finally, Wells Fargo & Company lowered their price target on Halliburton from $42.00 to $33.00 and set an "equal weight" rating for the company in a report on Wednesday, July 20th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $39.53.
About Halliburton
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Halliburton Company provides products and services to the energy industry worldwide. It operates in two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.
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