Brooklyn Investment Group Invests $62,000 in Halliburton (NYSE:HAL)

Brooklyn Investment Group bought a new position in Halliburton (NYSE:HAL) in the 3rd quarter, Holdings Channel.com reports. The firm bought 2,122 shares of the oilfield services company’s stock, valued at approximately $62,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cary Street Partners Asset Management LLC grew its position in Halliburton by 56.5% in the third quarter. Cary Street Partners Asset Management LLC now owns 157,085 shares of the oilfield services company’s stock worth $4,563,000 after acquiring an additional 56,707 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Halliburton by 146.0% in the second quarter. Canada Pension Plan Investment Board now owns 842,355 shares of the oilfield services company’s stock worth $28,455,000 after acquiring an additional 500,000 shares in the last quarter. Mackenzie Financial Corp grew its position in Halliburton by 105.2% in the second quarter. Mackenzie Financial Corp now owns 186,961 shares of the oilfield services company’s stock worth $6,316,000 after acquiring an additional 95,864 shares in the last quarter. Pacer Advisors Inc. grew its position in Halliburton by 23.1% in the third quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock worth $487,522,000 after acquiring an additional 3,150,986 shares in the last quarter. Finally, Quest Partners LLC grew its position in Halliburton by 2,418.9% in the third quarter. Quest Partners LLC now owns 78,387 shares of the oilfield services company’s stock worth $2,277,000 after acquiring an additional 75,275 shares in the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Halliburton Stock Up 0.2 %

Shares of HAL stock opened at $31.88 on Friday. The stock has a market cap of $28.01 billion, a P/E ratio of 11.11, a PEG ratio of 3.94 and a beta of 1.89. Halliburton has a 52 week low of $27.26 and a 52 week high of $41.56. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. The company’s fifty day simple moving average is $29.67 and its two-hundred day simple moving average is $31.89.

Halliburton (NYSE:HAL) last issued its quarterly earnings results 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). The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 earnings per share. Analysts predict that Halliburton will post 3.01 EPS for the current fiscal year.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.17 per share. The ex-dividend date is Wednesday, December 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.13%. Halliburton’s dividend payout ratio is presently 23.69%.

Analyst Ratings Changes

HAL has been the subject of several analyst reports. Jefferies Financial Group cut their price target on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Morgan Stanley dropped their target price on shares of Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Benchmark reiterated a “buy” rating and set a $40.00 target price on shares of Halliburton in a report on Friday, November 8th. The Goldman Sachs Group decreased their price target on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Royal Bank of Canada downgraded shares of Halliburton from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $44.00 to $37.00 in a research note on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.74.

About Halliburton

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.