BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 63,615 Shares of Halliburton (NYSE:HAL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Halliburton (NYSE:HAL) by 59.5% during the 2nd quarter, Holdings Channel reports. The firm owned 170,477 shares of the oilfield services company’s stock after purchasing an additional 63,615 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Halliburton were worth $5,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. increased its position in Halliburton by 2.1% during the second quarter. First Horizon Advisors Inc. now owns 14,027 shares of the oilfield services company’s stock worth $474,000 after buying an additional 295 shares during the last quarter. Massachusetts Wealth Management increased its holdings in shares of Halliburton by 1.7% during the 1st quarter. Massachusetts Wealth Management now owns 18,325 shares of the oilfield services company’s stock worth $722,000 after acquiring an additional 300 shares during the last quarter. Beacon Capital Management LLC increased its holdings in shares of Halliburton by 28.8% during the 1st quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock worth $54,000 after acquiring an additional 309 shares during the last quarter. Guinness Atkinson Asset Management Inc raised its stake in Halliburton by 3.1% in the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 10,847 shares of the oilfield services company’s stock valued at $366,000 after acquiring an additional 330 shares during the period. Finally, Moody National Bank Trust Division lifted its holdings in Halliburton by 2.9% during the 2nd quarter. Moody National Bank Trust Division now owns 11,842 shares of the oilfield services company’s stock valued at $400,000 after purchasing an additional 336 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

Halliburton Stock Performance

Shares of NYSE:HAL opened at $27.81 on Friday. Halliburton has a 1 year low of $27.52 and a 1 year high of $43.85. The stock has a market capitalization of $24.55 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 1.02 and a beta of 1.89. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 1.54. The company’s 50 day simple moving average is $31.11 and its 200 day simple moving average is $34.71.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The company had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.95 billion. During the same quarter last year, the company posted $0.77 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts predict that Halliburton will post 3.14 EPS for the current fiscal year.

Halliburton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a $0.17 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.45%. Halliburton’s dividend payout ratio (DPR) is currently 23.53%.

Insider Activity

In related news, EVP Van H. Beckwith sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total transaction of $367,500.00. Following the completion of the transaction, the executive vice president now directly owns 273,908 shares in the company, valued at approximately $10,066,119. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HAL shares. Evercore ISI dropped their price objective on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. TD Cowen cut their price objective on shares of Halliburton from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Dbs Bank initiated coverage on Halliburton in a research report on Wednesday, September 18th. They issued a “buy” rating and a $45.00 target price on the stock. Barclays dropped their price target on Halliburton from $54.00 to $48.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on Halliburton from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and an average price target of $42.56.

Halliburton Profile

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.