Pictet Asset Management Ltd. increased its stake in shares of Halliburton (NYSE:HAL) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 398,426 shares of the oilfield services company’s stock after purchasing an additional 4,100 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Halliburton were worth $7,510,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC increased its stake in shares of Halliburton by 96.9% during the 3rd quarter. Golden State Wealth Management LLC now owns 1,353 shares of the oilfield services company’s stock worth $26,000 after purchasing an additional 666 shares during the last quarter. Prestige Wealth Management Group LLC acquired a new stake in shares of Halliburton in the second quarter worth $34,000. Meeder Asset Management Inc. increased its holdings in shares of Halliburton by 179.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,796 shares of the oilfield services company’s stock worth $34,000 after purchasing an additional 1,154 shares during the period. Mizuho Securities Co. Ltd. bought a new position in shares of Halliburton during the 2nd quarter worth about $45,000. Finally, Dougherty Wealth Advisers LLC acquired a new position in shares of Halliburton during the second quarter valued at about $45,000. 77.84% of the stock is owned by hedge funds and other institutional investors.
Shares of Halliburton stock opened at $20.79 on Wednesday. The firm has a fifty day moving average of $20.32 and a two-hundred day moving average of $20.89. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.67 and a current ratio of 2.39. The stock has a market capitalization of $18.25 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 3.94 and a beta of 1.49. Halliburton has a 52 week low of $16.97 and a 52 week high of $32.82.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Thursday, December 5th will be given a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.46%. Halliburton’s dividend payout ratio is 37.89%.
A number of research firms recently weighed in on HAL. Argus downgraded Halliburton from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Cowen reduced their price objective on Halliburton from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. Barclays lowered Halliburton from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $31.00 to $23.00 in a report on Monday, September 16th. Bank of America lowered their price objective on Halliburton from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Finally, Zacks Investment Research cut Halliburton from a “hold” rating to a “strong sell” rating and set a $23.00 target price for the company. in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $30.61.
In other news, Director William E. Albrecht bought 8,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were bought at an average cost of $19.35 per share, for a total transaction of $154,800.00. Following the completion of the acquisition, the director now owns 16,000 shares in the company, valued at approximately $309,600. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by company insiders.
Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
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