Mirae Asset Global Investments Co. Ltd. Purchases 25,234 Shares of Halliburton Company $HAL

Mirae Asset Global Investments Co. Ltd. boosted its position in Halliburton Company (NYSE:HAL) by 2.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 917,982 shares of the oilfield services company’s stock after buying an additional 25,234 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.11% of Halliburton worth $22,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new stake in Halliburton in the 2nd quarter valued at about $25,000. Cullen Frost Bankers Inc. bought a new stake in shares of Halliburton in the third quarter valued at approximately $25,000. Rakuten Securities Inc. lifted its stake in shares of Halliburton by 547.3% during the 2nd quarter. Rakuten Securities Inc. now owns 1,586 shares of the oilfield services company’s stock valued at $32,000 after buying an additional 1,341 shares in the last quarter. Root Financial Partners LLC bought a new position in Halliburton in the 3rd quarter worth approximately $32,000. Finally, Cape Investment Advisory Inc. grew its stake in Halliburton by 111.9% in the 2nd quarter. Cape Investment Advisory Inc. now owns 1,704 shares of the oilfield services company’s stock valued at $35,000 after buying an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on HAL. Rothschild & Co Redburn started coverage on Halliburton in a research report on Monday, November 3rd. They set a “buy” rating and a $35.00 target price on the stock. Hsbc Global Res raised Halliburton from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Bank of America upped their price target on Halliburton from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Zacks Research raised shares of Halliburton from a “strong sell” rating to a “hold” rating in a report on Thursday, October 23rd. Finally, Evercore ISI boosted their price objective on shares of Halliburton from $35.00 to $36.00 and gave the company an “in-line” rating in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.57.

Halliburton Stock Up 0.1%

HAL stock opened at $33.40 on Friday. The company’s 50 day moving average is $29.57 and its 200 day moving average is $25.61. The stock has a market cap of $28.11 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.99 and a beta of 0.78. The company has a current ratio of 2.04, a quick ratio of 1.51 and a debt-to-equity ratio of 0.68. Halliburton Company has a 1-year low of $18.72 and a 1-year high of $35.55.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.14. The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Halliburton had a net margin of 5.78% and a return on equity of 19.77%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.73 EPS. Sell-side analysts predict that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd were given a $0.17 dividend. The ex-dividend date was Wednesday, December 3rd. This represents a $0.68 annualized dividend and a yield of 2.0%. Halliburton’s payout ratio is 45.03%.

Insiders Place Their Bets

In other news, CEO Jeffrey Allen Miller sold 171,200 shares of the stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $34.96, for a total transaction of $5,985,152.00. Following the transaction, the chief executive officer directly owned 1,101,243 shares in the company, valued at approximately $38,499,455.28. This represents a 13.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Richard sold 160,000 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $27.77, for a total value of $4,443,200.00. Following the transaction, the insider directly owned 452,374 shares in the company, valued at approximately $12,562,425.98. This represents a 26.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 497,002 shares of company stock valued at $15,889,138 over the last quarter. Insiders own 0.56% of the company’s stock.

Halliburton Company Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.