Investors Buy Shares of Halliburton (HAL) on Weakness

Investors purchased shares of Halliburton Company (NYSE:HAL) on weakness during trading hours on Monday. $83.84 million flowed into the stock on the tick-up and $41.99 million flowed out of the stock on the tick-down, for a money net flow of $41.85 million into the stock. Of all stocks tracked, Halliburton had the 9th highest net in-flow for the day. Halliburton traded down ($0.16) for the day and closed at $48.01

Several equities research analysts have commented on the stock. TheStreet raised shares of Halliburton from a “d+” rating to a “c-” rating in a report on Friday, September 29th. B. Riley reissued a “buy” rating on shares of Halliburton in a report on Wednesday, November 1st. Piper Jaffray Companies set a $52.00 price target on shares of Halliburton and gave the stock a “buy” rating in a report on Thursday, December 14th. FBR & Co lowered their price target on shares of Halliburton from $61.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, October 24th. Finally, ValuEngine raised shares of Halliburton from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $57.47.

The company has a quick ratio of 1.67, a current ratio of 2.20 and a debt-to-equity ratio of 1.13. The firm has a market cap of $41,890.00, a PE ratio of 200.04, a price-to-earnings-growth ratio of 5.20 and a beta of 1.03.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Monday, October 23rd. The oilfield services company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. Halliburton had a net margin of 1.13% and a return on equity of 6.93%. The business had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period last year, the business earned $0.01 earnings per share. The business’s quarterly revenue was up 42.0% on a year-over-year basis. research analysts expect that Halliburton Company will post 1.16 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Wednesday, December 6th. Halliburton’s payout ratio is currently 300.00%.

In other Halliburton news, insider James S. Brown sold 29,485 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $44.01, for a total transaction of $1,297,634.85. Following the transaction, the insider now directly owns 129,646 shares in the company, valued at $5,705,720.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David J. Lesar sold 50,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $43.70, for a total transaction of $2,185,000.00. Following the transaction, the chairman now owns 490,143 shares in the company, valued at $21,419,249.10. The disclosure for this sale can be found here. Insiders have sold 88,585 shares of company stock worth $3,858,920 over the last quarter. Company insiders own 0.46% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. BB&T Securities LLC boosted its stake in shares of Halliburton by 25.3% during the second quarter. BB&T Securities LLC now owns 56,135 shares of the oilfield services company’s stock valued at $2,397,000 after purchasing an additional 11,334 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Halliburton by 16.4% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 24,885 shares of the oilfield services company’s stock worth $1,063,000 after acquiring an additional 3,510 shares during the period. LMR Partners LLP purchased a new stake in Halliburton in the second quarter worth $2,388,000. Airain ltd lifted its stake in Halliburton by 31.8% in the second quarter. Airain ltd now owns 491,492 shares of the oilfield services company’s stock worth $20,992,000 after acquiring an additional 118,512 shares during the period. Finally, Swiss National Bank lifted its stake in Halliburton by 3.4% in the second quarter. Swiss National Bank now owns 3,167,697 shares of the oilfield services company’s stock worth $135,292,000 after acquiring an additional 104,500 shares during the period. 79.79% of the stock is owned by hedge funds and other institutional investors.

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About Halliburton

Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.

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