K.J. Harrison & Partners Inc Takes Position in Halliburton Company $HAL

K.J. Harrison & Partners Inc acquired a new position in shares of Halliburton Company (NYSE:HAL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 40,356 shares of the oilfield services company’s stock, valued at approximately $984,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Clearstead Trust LLC lifted its position in Halliburton by 7.4% during the third quarter. Clearstead Trust LLC now owns 5,370 shares of the oilfield services company’s stock valued at $132,000 after purchasing an additional 370 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Halliburton by 22.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,369 shares of the oilfield services company’s stock valued at $58,000 after buying an additional 431 shares in the last quarter. Profund Advisors LLC lifted its holdings in shares of Halliburton by 0.9% during the 3rd quarter. Profund Advisors LLC now owns 51,508 shares of the oilfield services company’s stock worth $1,267,000 after acquiring an additional 463 shares during the last quarter. SBI Securities Co. Ltd. grew its position in Halliburton by 7.3% in the second quarter. SBI Securities Co. Ltd. now owns 7,374 shares of the oilfield services company’s stock worth $150,000 after acquiring an additional 504 shares in the last quarter. Finally, Greenleaf Trust increased its stake in Halliburton by 3.3% in the third quarter. Greenleaf Trust now owns 16,390 shares of the oilfield services company’s stock valued at $403,000 after acquiring an additional 519 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Stock Performance

Shares of HAL stock opened at $35.71 on Friday. The company has a market capitalization of $29.91 billion, a P/E ratio of 23.65, a PEG ratio of 2.10 and a beta of 0.77. Halliburton Company has a fifty-two week low of $18.72 and a fifty-two week high of $36.18. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.51 and a current ratio of 2.04. The stock has a 50 day moving average price of $32.45 and a two-hundred day moving average price of $27.37.

Halliburton (NYSE:HAL) last issued its earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.55 by $0.14. Halliburton had a net margin of 5.78% and a return on equity of 19.77%. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the firm earned $0.73 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Analysts expect that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, March 4th. Halliburton’s dividend payout ratio is 45.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Capital One Financial lifted their price target on Halliburton from $25.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. The Goldman Sachs Group boosted their target price on Halliburton from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of Halliburton from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 14th. Evercore boosted their price objective on shares of Halliburton from $35.00 to $36.00 and gave the stock an “in-line” rating in a report on Thursday, January 22nd. Finally, Citigroup upped their price objective on shares of Halliburton from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.19.

Insiders Place Their Bets

In other Halliburton news, Director Margaret Katherine Banks sold 2,600 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $34.17, for a total value of $88,842.00. Following the completion of the sale, the director owned 14,043 shares in the company, valued at approximately $479,849.31. This trade represents a 15.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Van H. Beckwith sold 54,348 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $34.96, for a total value of $1,900,006.08. Following the transaction, the executive vice president directly owned 344,535 shares in the company, valued at $12,044,943.60. This trade represents a 13.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 337,002 shares of company stock valued at $11,445,938 over the last three months. Company insiders own 0.56% of the company’s stock.

Halliburton Company Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.