Spectrum Asset Management Inc. NB CA Makes New $644,000 Investment in Halliburton (NYSE:HAL)

Spectrum Asset Management Inc. NB CA bought a new position in shares of Halliburton (NYSE:HAL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 23,685 shares of the oilfield services company's stock, valued at approximately $644,000.

Other hedge funds have also modified their holdings of the company. Continuum Advisory LLC boosted its stake in Halliburton by 101.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company's stock worth $42,000 after purchasing an additional 698 shares during the period. Modus Advisors LLC bought a new position in shares of Halliburton during the fourth quarter worth $38,000. ORG Wealth Partners LLC purchased a new position in Halliburton during the third quarter valued at $44,000. Venturi Wealth Management LLC increased its holdings in Halliburton by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company's stock valued at $47,000 after acquiring an additional 412 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in Halliburton by 28.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company's stock worth $51,000 after purchasing an additional 393 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HAL shares. Raymond James cut Halliburton from a "strong-buy" rating to a "market perform" rating in a report on Monday, January 6th. Evercore ISI decreased their price objective on Halliburton from $43.00 to $35.00 and set an "outperform" rating on the stock in a report on Wednesday, January 15th. Benchmark reduced their price target on shares of Halliburton from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, January 23rd. Jefferies Financial Group dropped their price objective on shares of Halliburton from $43.00 to $41.00 and set a "buy" rating for the company in a research note on Friday, January 3rd. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $34.00 target price on shares of Halliburton in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.42.

Halliburton Stock Up 3.7 %

Shares of NYSE HAL traded up $0.93 during trading hours on Monday, hitting $26.12. 3,971,459 shares of the stock were exchanged, compared to its average volume of 11,096,003. The company has a market cap of $22.94 billion, a PE ratio of 9.23, a PEG ratio of 3.53 and a beta of 1.89. Halliburton has a 12 month low of $25.16 and a 12 month high of $41.56. The company has a quick ratio of 1.54, a current ratio of 2.05 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average price of $27.74 and a 200-day moving average price of $29.36.

Halliburton (NYSE:HAL - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). Halliburton had a net margin of 10.90% and a return on equity of 26.03%. The business had revenue of $5.70 billion for the quarter, compared to analysts' expectations of $5.83 billion. During the same quarter in the prior year, the company posted $0.79 EPS. The business's revenue for the quarter was down 1.8% on a year-over-year basis. On average, sell-side analysts expect that Halliburton will post 2.67 EPS for the current year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th were paid a dividend of $0.17 per share. The ex-dividend date was Wednesday, December 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.60%. Halliburton's payout ratio is 24.03%.

Halliburton Company Profile

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.