Brookstone Capital Management bought a new stake in Halliburton (NYSE:HAL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 16,817 shares of the oilfield services company’s stock, valued at approximately $203,000.
Several other large investors also recently added to or reduced their stakes in HAL. Verus Capital Partners LLC increased its holdings in shares of Halliburton by 568.4% in the first quarter. Verus Capital Partners LLC now owns 3,696 shares of the oilfield services company’s stock valued at $25,000 after purchasing an additional 3,143 shares during the period. Gemmer Asset Management LLC increased its holdings in shares of Halliburton by 63.6% in the second quarter. Gemmer Asset Management LLC now owns 1,898 shares of the oilfield services company’s stock valued at $25,000 after purchasing an additional 738 shares during the period. Stephenson National Bank & Trust acquired a new position in shares of Halliburton in the second quarter valued at approximately $27,000. Center for Financial Planning Inc. acquired a new position in shares of Halliburton in the second quarter valued at approximately $27,000. Finally, Meeder Asset Management Inc. increased its holdings in shares of Halliburton by 54.6% in the first quarter. Meeder Asset Management Inc. now owns 4,263 shares of the oilfield services company’s stock valued at $29,000 after purchasing an additional 1,506 shares during the period. 71.49% of the stock is currently owned by institutional investors and hedge funds.
HAL has been the topic of a number of recent analyst reports. BMO Capital Markets initiated coverage on Halliburton in a report on Thursday, October 1st. They set a “market perform” rating and a $14.00 price objective on the stock. HSBC upped their price objective on Halliburton from $9.50 to $13.70 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Credit Suisse Group upped their price objective on Halliburton from $9.50 to $11.75 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Wells Fargo & Company reaffirmed a “hold” rating on shares of Halliburton in a report on Monday, August 17th. Finally, Morgan Stanley upped their price objective on Halliburton from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $13.14.
NYSE HAL opened at $12.25 on Friday. The company’s fifty day simple moving average is $13.81 and its 200-day simple moving average is $12.48. Halliburton has a 52 week low of $4.25 and a 52 week high of $25.47. The company has a current ratio of 2.22, a quick ratio of 1.55 and a debt-to-equity ratio of 1.85. The stock has a market cap of $10.76 billion, a P/E ratio of -2.66, a PEG ratio of 3.59 and a beta of 2.68.
Halliburton (NYSE:HAL) last posted its earnings results on Monday, July 20th. The oilfield services company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.16. Halliburton had a negative net margin of 21.35% and a positive return on equity of 12.02%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the previous year, the company posted $0.35 earnings per share. The business’s revenue for the quarter was down 46.1% compared to the same quarter last year. On average, research analysts expect that Halliburton will post 0.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd were given a dividend of $0.045 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.47%. Halliburton’s payout ratio is currently 14.52%.
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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