Westpac Banking Corp Purchases 33,266 Shares of Halliburton (NYSE:HAL)

Westpac Banking Corp increased its position in shares of Halliburton (NYSE:HAL) by 12.4% during the 2nd quarter, Holdings Channel reports. The fund owned 301,245 shares of the oilfield services company’s stock after buying an additional 33,266 shares during the quarter. Westpac Banking Corp’s holdings in Halliburton were worth $6,850,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Perella Weinberg Partners Capital Management LP boosted its stake in Halliburton by 6.6% during the 1st quarter. Perella Weinberg Partners Capital Management LP now owns 374,824 shares of the oilfield services company’s stock worth $10,982,000 after acquiring an additional 23,214 shares during the last quarter. Swiss National Bank boosted its stake in Halliburton by 2.2% during the 1st quarter. Swiss National Bank now owns 2,924,297 shares of the oilfield services company’s stock worth $85,682,000 after acquiring an additional 63,800 shares during the last quarter. Steinberg Global Asset Management bought a new position in Halliburton during the 1st quarter worth approximately $1,397,000. Lockheed Martin Investment Management Co. bought a new position in Halliburton during the 1st quarter worth approximately $2,150,000. Finally, Corrado Advisors LLC bought a new position in Halliburton during the 2nd quarter worth approximately $114,000. 78.42% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE HAL traded up $0.24 during midday trading on Friday, reaching $18.49. The company’s stock had a trading volume of 268,265 shares, compared to its average volume of 14,721,149. The company has a current ratio of 2.26, a quick ratio of 1.59 and a debt-to-equity ratio of 1.16. Halliburton has a fifty-two week low of $17.46 and a fifty-two week high of $42.57. The stock has a market capitalization of $17.06 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 2.30 and a beta of 1.30. The stock has a 50 day simple moving average of $22.02 and a 200-day simple moving average of $26.25.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Monday, July 22nd. The oilfield services company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. Halliburton had a net margin of 5.58% and a return on equity of 13.76%. The company had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.97 billion. During the same period last year, the company earned $0.58 earnings per share. The firm’s revenue was down 3.5% compared to the same quarter last year. As a group, equities analysts anticipate that Halliburton will post 1.34 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.89%. Halliburton’s dividend payout ratio (DPR) is presently 37.89%.

Several analysts have commented on HAL shares. Citigroup dropped their target price on shares of Halliburton from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. Credit Suisse Group dropped their target price on shares of Halliburton from $33.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, July 23rd. SunTrust Banks dropped their target price on shares of Halliburton to $39.00 and set an “average” rating on the stock in a report on Tuesday, April 23rd. Stephens dropped their target price on shares of Halliburton from $45.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Finally, Morgan Stanley dropped their target price on shares of Halliburton from $40.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.78.

About Halliburton

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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