Ballast Inc. Acquires 1,758 Shares of Halliburton (NYSE:HAL)

Ballast Inc. lifted its holdings in Halliburton (NYSE:HAL) by 13.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,102 shares of the oilfield services company’s stock after acquiring an additional 1,758 shares during the period. Ballast Inc.’s holdings in Halliburton were worth $439,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board lifted its stake in shares of Halliburton by 146.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 842,355 shares of the oilfield services company’s stock valued at $28,455,000 after purchasing an additional 500,000 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Halliburton by 105.2% in the second quarter. Mackenzie Financial Corp now owns 186,961 shares of the oilfield services company’s stock valued at $6,316,000 after acquiring an additional 95,864 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Halliburton by 319.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 36,956 shares of the oilfield services company’s stock worth $1,385,000 after acquiring an additional 28,137 shares during the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of Halliburton during the 1st quarter worth about $1,908,000. Finally, Sanctuary Advisors LLC purchased a new stake in Halliburton in the 2nd quarter worth about $2,257,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Wall Street Analyst Weigh In

HAL has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price target on Halliburton from $46.00 to $39.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. StockNews.com downgraded shares of Halliburton from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada lowered shares of Halliburton from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $44.00 to $37.00 in a report on Friday, September 13th. Benchmark restated a “buy” rating and issued a $42.00 target price on shares of Halliburton in a research note on Monday, July 22nd. Finally, Jefferies Financial Group reduced their target price on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.74.

Halliburton Trading Down 1.2 %

Shares of Halliburton stock opened at $28.94 on Friday. Halliburton has a fifty-two week low of $27.52 and a fifty-two week high of $43.85. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13. The company has a market cap of $25.62 billion, a P/E ratio of 10.01, a price-to-earnings-growth ratio of 1.04 and a beta of 1.88. The firm has a 50-day simple moving average of $30.05 and a two-hundred day simple moving average of $33.82.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $5.83 billion for the quarter, compared to the consensus estimate of $5.95 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. Halliburton’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 earnings per share. As a group, equities analysts predict that Halliburton will post 3.13 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.17 per share. The ex-dividend date was Wednesday, September 4th. This represents a $0.68 annualized dividend and a yield of 2.35%. Halliburton’s dividend payout ratio (DPR) is presently 23.53%.

About Halliburton

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.