ING Groep NV Increases Position in Halliburton (NYSE:HAL)

ING Groep NV increased its stake in shares of Halliburton (NYSE:HALFree Report) by 92.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 473,235 shares of the oilfield services company’s stock after purchasing an additional 227,930 shares during the quarter. ING Groep NV’s holdings in Halliburton were worth $17,107,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Fifth Third Bancorp raised its stake in shares of Halliburton by 3.7% during the 3rd quarter. Fifth Third Bancorp now owns 46,216 shares of the oilfield services company’s stock worth $1,872,000 after acquiring an additional 1,648 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of Halliburton by 25.6% during the third quarter. Panagora Asset Management Inc. now owns 47,130 shares of the oilfield services company’s stock worth $1,909,000 after purchasing an additional 9,615 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Halliburton by 145.9% during the 3rd quarter. Allworth Financial LP now owns 3,118 shares of the oilfield services company’s stock valued at $126,000 after purchasing an additional 1,850 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Halliburton by 2.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 69,904 shares of the oilfield services company’s stock worth $2,831,000 after purchasing an additional 1,636 shares in the last quarter. Finally, New Mexico Educational Retirement Board grew its stake in Halliburton by 6.8% during the 3rd quarter. New Mexico Educational Retirement Board now owns 46,971 shares of the oilfield services company’s stock worth $1,902,000 after buying an additional 3,000 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Insiders Place Their Bets

In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the transaction, the chief executive officer now owns 759,015 shares in the company, valued at $26,793,229.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the completion of the transaction, the chief executive officer now directly owns 759,015 shares in the company, valued at $26,793,229.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Shannon Slocum sold 38,941 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total transaction of $1,437,701.72. Following the transaction, the insider now directly owns 130,783 shares in the company, valued at $4,828,508.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 434,287 shares of company stock worth $15,415,304. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HAL shares. StockNews.com downgraded Halliburton from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Wells Fargo & Company dropped their target price on shares of Halliburton from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Morgan Stanley upped their price target on shares of Halliburton from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. Barclays lowered their price objective on shares of Halliburton from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. Finally, Citigroup upped their target price on Halliburton from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Halliburton currently has an average rating of “Moderate Buy” and an average target price of $48.59.

Read Our Latest Stock Analysis on HAL

Halliburton Stock Performance

Shares of HAL traded up $0.42 during mid-day trading on Friday, reaching $37.90. The company had a trading volume of 3,639,377 shares, compared to its average volume of 5,658,051. The stock has a 50 day moving average of $38.47 and a two-hundred day moving average of $36.94. The company has a quick ratio of 1.52, a current ratio of 2.12 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $33.55 billion, a P/E ratio of 13.11, a PEG ratio of 0.95 and a beta of 2.01. Halliburton has a 52-week low of $28.43 and a 52-week high of $43.85.

Halliburton (NYSE:HALGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.67 billion. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 EPS. On average, analysts expect that Halliburton will post 3.39 earnings per share for the current year.

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $0.68 dividend on an annualized basis and a yield of 1.79%. Halliburton’s payout ratio is 23.53%.

Halliburton Profile

(Free Report)

Halliburton Company provides products and services to the energy industry worldwide. It operates through 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; and 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.

Further Reading

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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