Concurrent Investment Advisors LLC Has $3.45 Million Stake in Halliburton (NYSE:HAL)

Concurrent Investment Advisors LLC increased its position in shares of Halliburton (NYSE:HAL) by 20.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 118,793 shares of the oilfield services company’s stock after purchasing an additional 20,378 shares during the period. Concurrent Investment Advisors LLC’s holdings in Halliburton were worth $3,451,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in HAL. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Halliburton by 5.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 148,671 shares of the oilfield services company’s stock worth $5,861,000 after purchasing an additional 7,330 shares during the period. Janney Montgomery Scott LLC increased its stake in Halliburton by 18.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 148,406 shares of the oilfield services company’s stock worth $5,850,000 after acquiring an additional 23,230 shares during the period. Central Pacific Bank Trust Division acquired a new position in Halliburton in the 1st quarter valued at $116,000. Csenge Advisory Group bought a new stake in shares of Halliburton during the 1st quarter valued at $205,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Halliburton by 127.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 10,356 shares of the oilfield services company’s stock worth $408,000 after purchasing an additional 5,802 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Halliburton Price Performance

Shares of NYSE:HAL opened at $30.51 on Thursday. The firm has a market cap of $26.94 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 1.85 and a beta of 1.89. Halliburton has a 52 week low of $27.26 and a 52 week high of $41.56. The firm’s fifty day moving average is $29.17 and its 200-day moving average is $32.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.23%. Halliburton’s dividend payout ratio (DPR) is presently 22.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HAL shares. Wells Fargo & Company cut their price objective on shares of Halliburton from $46.00 to $39.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. Susquehanna lowered their price objective on shares of Halliburton from $46.00 to $42.00 and set a “positive” rating for the company in a research report on Friday, October 11th. Bank of America cut their target price on Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Royal Bank of Canada lowered Halliburton from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $44.00 to $37.00 in a research note on Friday, September 13th. Finally, Stifel Nicolaus dropped their price objective on Halliburton from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and an average target price of $41.74.

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.