US Bancorp DE increased its holdings in shares of Halliburton (NYSE:HAL – Free Report) by 7.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 148,722 shares of the oilfield services company’s stock after acquiring an additional 9,721 shares during the quarter. US Bancorp DE’s holdings in Halliburton were worth $4,320,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Halliburton by 46.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock valued at $2,408,171,000 after acquiring an additional 19,237,784 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Halliburton by 17,317.6% during the second quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock worth $460,462,000 after acquiring an additional 13,552,927 shares during the period. LSV Asset Management boosted its holdings in shares of Halliburton by 24,954.1% during the second quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock worth $92,250,000 after acquiring an additional 2,720,000 shares during the period. Vanguard Group Inc. raised its position in shares of Halliburton by 2.7% in the first quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock valued at $3,952,805,000 after buying an additional 2,618,740 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Halliburton by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock valued at $340,752,000 after purchasing an additional 1,681,620 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on HAL shares. Susquehanna decreased their target price on shares of Halliburton from $46.00 to $42.00 and set a “positive” rating on the stock in a research note on Friday, October 11th. Stifel Nicolaus cut their price target on shares of Halliburton from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Wells Fargo & Company reduced their target price on Halliburton from $46.00 to $39.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Dbs Bank assumed coverage on Halliburton in a research note on Wednesday, September 18th. They issued a “buy” rating and a $45.00 target price for the company. Finally, Barclays dropped their price target on shares of Halliburton from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Four investment 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.74.
Halliburton Stock Performance
Shares of NYSE HAL opened at $28.13 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. Halliburton has a 12 month low of $27.26 and a 12 month high of $41.56. The stock has a 50 day moving average of $29.24 and a 200-day moving average of $32.71. The company has a market capitalization of $24.83 billion, a P/E ratio of 9.35, a P/E/G ratio of 1.83 and a beta of 1.89.
Halliburton Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.42%. Halliburton’s dividend payout ratio is currently 22.59%.
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.
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