Mitsubishi UFJ Trust & Banking Corp lowered its holdings in shares of Halliburton (NYSE:HAL – Free Report) by 7.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 501,401 shares of the oilfield services company’s stock after selling 41,748 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of Halliburton worth $20,307,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the business. Aptus Capital Advisors LLC bought a new stake in Halliburton during the 3rd quarter worth $225,000. Wade G W & Inc. bought a new stake in Halliburton during the 3rd quarter worth $239,000. State Board of Administration of Florida Retirement System grew its position in shares of Halliburton by 4.9% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 969,445 shares of the oilfield services company’s stock valued at $39,263,000 after buying an additional 44,916 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Halliburton in the 3rd quarter valued at about $94,000. Finally, HighTower Advisors LLC grew its position in shares of Halliburton by 0.4% in the 3rd quarter. HighTower Advisors LLC now owns 677,796 shares of the oilfield services company’s stock valued at $27,392,000 after buying an additional 2,864 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.
Halliburton Stock Performance
HAL stock opened at $34.51 on Monday. The firm has a market cap of $30.72 billion, a PE ratio of 11.78, a P/E/G ratio of 0.86 and a beta of 2.01. The company has a quick ratio of 1.48, a current ratio of 2.06 and a debt-to-equity ratio of 0.81. The business has a 50 day moving average of $35.50 and a 200-day moving average of $38.30. Halliburton has a 12-month low of $27.84 and a 12-month high of $43.85.
Halliburton Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.97%. This is a positive change from Halliburton’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, March 5th. Halliburton’s dividend payout ratio is 21.84%.
Analysts Set New Price Targets
Several brokerages recently commented on HAL. UBS Group upped their target price on Halliburton from $44.00 to $48.00 in a research report on Monday, January 22nd. Susquehanna dropped their price target on Halliburton from $51.00 to $49.00 and set a “positive” rating on the stock in a research note on Wednesday, January 24th. StockNews.com downgraded Halliburton from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 price target on shares of Halliburton in a research note on Wednesday, January 24th. Finally, Raymond James dropped their price target on Halliburton from $49.00 to $47.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.63.
Halliburton Company provides products and services to the energy industry worldwide. It operates in 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; 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; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.
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