Fortem Financial Group LLC Raises Holdings in Halliburton Company $HAL

Fortem Financial Group LLC boosted its holdings in shares of Halliburton Company (NYSE:HAL) by 35.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,213 shares of the oilfield services company’s stock after acquiring an additional 16,732 shares during the quarter. Fortem Financial Group LLC’s holdings in Halliburton were worth $2,504,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nvest Wealth Strategies Inc. acquired a new position in shares of Halliburton in the 4th quarter valued at $25,000. Kelleher Financial Advisors acquired a new stake in shares of Halliburton during the 3rd quarter worth about $25,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Halliburton during the 2nd quarter worth about $25,000. Zions Bancorporation National Association UT raised its holdings in Halliburton by 196.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock valued at $28,000 after buying an additional 650 shares during the period. Finally, Strive Asset Management LLC purchased a new stake in Halliburton in the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on HAL. Evercore upped their target price on shares of Halliburton from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Argus lifted their price target on shares of Halliburton from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Barclays raised shares of Halliburton from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $37.00 to $55.00 in a research note on Thursday, May 7th. Weiss Ratings restated a “hold (c)” rating on shares of Halliburton in a report on Friday, April 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Eighteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.27.

Halliburton Price Performance

HAL opened at $34.93 on Friday. The stock’s 50-day moving average price is $39.66 and its 200 day moving average price is $35.39. Halliburton Company has a 12-month low of $20.09 and a 12-month high of $43.59. The firm has a market cap of $29.18 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.51 and a beta of 0.69. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.65.

Halliburton (NYSE:HAL) last released its earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.05. The company had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.37 billion. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.Halliburton’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. As a group, sell-side analysts expect that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.9%. Halliburton’s dividend payout ratio (DPR) is presently 37.36%.

Insider Transactions at Halliburton

In related news, CEO Jeffrey Allen Miller sold 158,455 shares of Halliburton stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $40.00, for a total value of $6,338,200.00. Following the completion of the transaction, the chief executive officer owned 1,013,027 shares in the company, valued at approximately $40,521,080. The trade was a 13.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Timothy Mckeon sold 8,655 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $42.00, for a total transaction of $363,510.00. Following the sale, the vice president directly owned 72,976 shares in the company, valued at approximately $3,064,992. The trade was a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 391,932 shares of company stock valued at $15,999,453. 0.57% of the stock is owned by corporate insiders.

Halliburton 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.