OMERS ADMINISTRATION Corp Invests $4.61 Million in Halliburton Company $HAL

OMERS ADMINISTRATION Corp purchased a new position in Halliburton Company (NYSE:HAL) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 135,739 shares of the oilfield services company’s stock, valued at approximately $4,608,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HAL. Kelleher Financial Advisors acquired a new stake in Halliburton during the 3rd quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. purchased a new stake in Halliburton during the 2nd quarter worth approximately $25,000. Kilter Group LLC acquired a new position in shares of Halliburton in the 2nd quarter valued at approximately $26,000. Meeder Asset Management Inc. acquired a new position in shares of Halliburton in the 2nd quarter valued at approximately $26,000. Finally, Silvant Capital Management LLC purchased a new position in shares of Halliburton during the 2nd quarter valued at approximately $28,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Price Performance

Shares of HAL opened at $34.63 on Tuesday. Halliburton Company has a 52 week low of $21.40 and a 52 week high of $43.59. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64. The firm has a market cap of $28.85 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 2.21 and a beta of 0.73. The stock has a 50 day moving average of $33.88 and a 200-day moving average of $36.54.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.01. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same period in the prior year, the company posted $0.55 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. As a group, analysts forecast that Halliburton Company will post 2.34 EPS for the current year.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $0.68 annualized dividend and a yield of 2.0%. Halliburton’s payout ratio is presently 35.60%.

Insider Buying and Selling at Halliburton

In other Halliburton news, CFO Eric Carre sold 24,778 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $35.89, for a total transaction of $889,282.42. Following the sale, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at approximately $5,330,382.80. This represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jeffrey Shannon Slocum sold 52,572 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the completion of the transaction, the chief operating officer owned 118,730 shares in the company, valued at approximately $4,166,235.70. The trade was a 30.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. BMO Capital Markets set a $37.00 price target on shares of Halliburton in a research report on Wednesday, July 22nd. Rothschild & Co Redburn upped their price target on shares of Halliburton from $40.00 to $49.00 and gave the company a “buy” rating in a report on Friday, May 15th. 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 note on Wednesday, June 3rd. Capital One Financial raised their price objective on shares of Halliburton from $41.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Finally, Evercore reissued an “outperform” rating and issued a $43.00 target price on shares of Halliburton in a research report on Wednesday, July 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Halliburton presently has an average rating of “Moderate Buy” and a consensus price target of $43.10.

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.