Renaissance Investment Group LLC Purchases 24,576 Shares of Halliburton (NYSE:HAL)

Renaissance Investment Group LLC boosted its position in Halliburton (NYSE:HAL – Get Rating) by 25.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 119,689 shares of the oilfield services company’s stock after purchasing an additional 24,576 shares during the quarter. Renaissance Investment Group LLC’s holdings in Halliburton were worth $4,710,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HAL. EWG Elevate Inc. bought a new stake in Halliburton in the 4th quarter valued at $25,000. Coston McIsaac & Partners bought a new stake in shares of Halliburton during the 2nd quarter valued at $28,000. Bogart Wealth LLC lifted its position in shares of Halliburton by 100.0% during the 3rd quarter. Bogart Wealth LLC now owns 1,150 shares of the oilfield services company’s stock valued at $28,000 after acquiring an additional 575 shares during the period. Capital Asset Advisory Services LLC bought a new stake in shares of Halliburton during the 2nd quarter valued at $29,000. Finally, Hanseatic Management Services Inc. lifted its position in shares of Halliburton by 74.1% during the 3rd quarter. Hanseatic Management Services Inc. now owns 1,266 shares of the oilfield services company’s stock valued at $31,000 after acquiring an additional 539 shares during the period. 80.56% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Eric Carre sold 6,513 shares of the stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $37.50, for a total value of $244,237.50. Following the completion of the sale, the chief financial officer now owns 119,691 shares of the company’s stock, valued at $4,488,412.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Eric Carre sold 6,513 shares of the company’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $37.50, for a total transaction of $244,237.50. Following the sale, the chief financial officer now owns 119,691 shares in the company, valued at approximately $4,488,412.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Margaret Katherine Banks sold 2,769 shares of the company’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $38.79, for a total value of $107,409.51. Following the sale, the director now owns 11,856 shares in the company, valued at approximately $459,894.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,878 shares of company stock valued at $1,763,947. Company insiders own 0.57% of the company’s stock.

Halliburton Trading Down 3.4 %

Shares of HAL stock opened at $29.95 on Friday. The stock has a market cap of $27.08 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.23 and a beta of 2.12. The stock has a 50-day moving average of $38.24 and a 200-day moving average of $35.32. The company has a current ratio of 2.05, a quick ratio of 1.50 and a debt-to-equity ratio of 0.99. Halliburton has a 1-year low of $23.30 and a 1-year high of $43.99.

Halliburton (NYSE:HAL – Get Rating) last issued its quarterly earnings results on Tuesday, January 24th. The oilfield services company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.05. The company had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.59 billion. Halliburton had a return on equity of 26.25% and a net margin of 7.74%. The business’s quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. On average, equities research analysts forecast that Halliburton will post 3.09 earnings per share for the current year.

Halliburton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 1st will be paid a $0.16 dividend. This is a boost from Halliburton’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, February 28th. This represents a $0.64 annualized dividend and a dividend yield of 2.14%. Halliburton’s dividend payout ratio is presently 36.99%.

Analyst Ratings Changes

A number of analysts have recently weighed in on HAL shares. Barclays upped their target price on Halliburton from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, January 25th. Susquehanna reiterated a “positive” rating and set a $57.00 target price on shares of Halliburton in a research report on Tuesday, March 14th. The Goldman Sachs Group upped their target price on Halliburton from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, January 30th. Royal Bank of Canada boosted their price target on Halliburton from $45.00 to $48.00 in a report on Wednesday, January 25th. Finally, Morgan Stanley boosted their price target on Halliburton from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, January 4th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $48.67.

About Halliburton

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Halliburton Co engages in the provision of services and products to the energy industry related to the exploration, development, and production of oil and natural gas. It operates through the Completion and Production, and Drilling and Evaluation segments. The Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion services.