Brown Advisory Inc. Grows Stake in Halliburton (HAL)
Brown Advisory Inc. grew its stake in shares of Halliburton (NYSE:HAL) by 6.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 271,661 shares of the oilfield services company’s stock after acquiring an additional 17,632 shares during the period. Brown Advisory Inc.’s holdings in Halliburton were worth $7,221,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Essex Savings Bank bought a new position in Halliburton in the 4th quarter worth approximately $27,000. CX Institutional bought a new position in Halliburton in the 4th quarter worth approximately $30,000. IMS Capital Management bought a new position in Halliburton in the 3rd quarter worth approximately $46,000. Capital Investment Advisory Services LLC bought a new position in Halliburton in the 4th quarter worth approximately $38,000. Finally, Ipswich Investment Management Co. Inc. bought a new position in Halliburton in the 4th quarter worth approximately $40,000. 80.25% of the stock is owned by hedge funds and other institutional investors.
NYSE HAL opened at $27.97 on Friday. Halliburton has a 1 year low of $24.70 and a 1 year high of $54.91. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.69 and a current ratio of 2.32. The company has a market capitalization of $24.41 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.73 and a beta of 1.18.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.57%. The ex-dividend date is Tuesday, March 5th. Halliburton’s dividend payout ratio is presently 37.89%.
Several research analysts recently commented on HAL shares. Zacks Investment Research raised shares of Halliburton from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 13th. Goldman Sachs Group started coverage on shares of Halliburton in a report on Sunday, March 10th. They issued a “buy” rating and a $42.00 price objective for the company. Stifel Nicolaus set a $36.00 price objective on shares of Halliburton and gave the stock a “buy” rating in a report on Tuesday, January 22nd. Morgan Stanley set a $36.00 price objective on shares of Halliburton and gave the stock a “buy” rating in a report on Wednesday, January 23rd. Finally, Cowen raised shares of Halliburton from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $45.00 to $35.00 in a report on Thursday, January 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the stock. Halliburton has a consensus rating of “Buy” and an average price target of $45.50.
In other news, CFO Lance Loeffler sold 5,926 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $28.35, for a total transaction of $168,002.10. Following the sale, the chief financial officer now owns 55,885 shares in the company, valued at approximately $1,584,339.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Anne L. Beaty sold 1,300 shares of the firm’s stock in a transaction on Monday, January 7th. The shares were sold at an average price of $28.50, for a total transaction of $37,050.00. Following the sale, the vice president now owns 58,848 shares in the company, valued at approximately $1,677,168. The disclosure for this sale can be found here. Insiders sold a total of 9,774 shares of company stock worth $280,167 over the last quarter. Corporate insiders own 0.54% of the company’s stock.
Halliburton Company Profile
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.
Featured Story: Stock Split
Want to see what other hedge funds are holding HAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Halliburton (NYSE:HAL).
Receive News & Ratings for Halliburton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halliburton and related companies with MarketBeat.com's FREE daily email newsletter.