Corigliano Investment Advisers LLC Acquires Shares of 225,000 Halliburton Company $HAL

Corigliano Investment Advisers LLC purchased a new position in shares of Halliburton Company (NYSE:HAL) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 225,000 shares of the oilfield services company’s stock, valued at approximately $6,358,000. Halliburton accounts for 2.3% of Corigliano Investment Advisers LLC’s holdings, making the stock its 14th biggest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Research Global Investors boosted its holdings in shares of Halliburton by 81.8% in the third quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company’s stock valued at $2,239,349,000 after acquiring an additional 40,969,139 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Halliburton by 82,596.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after purchasing an additional 29,735,387 shares in the last quarter. Strive Asset Management LLC acquired a new position in shares of Halliburton during the 3rd quarter worth $418,738,000. Norges Bank purchased a new stake in shares of Halliburton in the fourth quarter valued at about $169,304,000. Finally, Holocene Advisors LP purchased a new stake in Halliburton in the 3rd quarter valued at approximately $147,315,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Halliburton

In other news, EVP Van H. Beckwith sold 198,349 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $41.29, for a total value of $8,189,830.21. Following the completion of the sale, the executive vice president directly owned 146,186 shares of the company’s stock, valued at approximately $6,036,019.94. This represents a 57.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeffrey Allen Miller sold 158,455 shares of the company’s stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $40.00, for a total value of $6,338,200.00. Following the completion of the sale, the chief executive officer owned 1,013,027 shares of the company’s stock, valued at $40,521,080. This trade represents a 13.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 391,932 shares of company stock worth $15,999,453 in the last three months. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Evercore upped their target price on shares of Halliburton from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. Rothschild & Co Redburn raised their price objective on Halliburton from $40.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Barclays upgraded shares of Halliburton from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $37.00 to $55.00 in a report on Thursday, May 7th. Citigroup increased their price objective on shares of Halliburton from $47.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Halliburton in a research report on Friday, April 10th. Eighteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Halliburton presently has an average rating of “Moderate Buy” and a consensus target price of $43.27.

Halliburton Stock Down 2.6%

Shares of Halliburton stock opened at $36.23 on Thursday. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $30.27 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.61 and a beta of 0.69. Halliburton Company has a twelve month low of $20.09 and a twelve month high of $43.59. The business’s 50 day simple moving average is $39.79 and its 200-day simple moving average is $35.33.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.50 by $0.05. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The business had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. Equities research analysts forecast that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.9%. Halliburton’s dividend payout ratio is presently 37.36%.

Halliburton 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.