Point72 Asia Singapore Pte. Ltd. Sells 8,367 Shares of Halliburton (NYSE:HAL)

Point72 Asia Singapore Pte. Ltd. decreased its holdings in Halliburton (NYSE:HAL) by 84.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,523 shares of the oilfield services company’s stock after selling 8,367 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Halliburton were worth $51,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. First Horizon Advisors Inc. grew its stake in shares of Halliburton by 2.1% in the second quarter. First Horizon Advisors Inc. now owns 14,027 shares of the oilfield services company’s stock valued at $474,000 after acquiring an additional 295 shares in the last quarter. Massachusetts Wealth Management grew its holdings in shares of Halliburton by 1.7% during the first quarter. Massachusetts Wealth Management now owns 18,325 shares of the oilfield services company’s stock worth $722,000 after purchasing an additional 300 shares during the last quarter. Beacon Capital Management LLC raised its stake in shares of Halliburton by 28.8% during the first quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock valued at $54,000 after acquiring an additional 309 shares during the last quarter. Guinness Atkinson Asset Management Inc raised its position in Halliburton by 3.1% during the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 10,847 shares of the oilfield services company’s stock worth $366,000 after purchasing an additional 330 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its holdings in Halliburton by 2.9% in the second quarter. Moody National Bank Trust Division now owns 11,842 shares of the oilfield services company’s stock valued at $400,000 after acquiring an additional 336 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HAL has been the subject of a number of research analyst reports. Evercore ISI lowered their target price on Halliburton from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Stifel Nicolaus dropped their price objective on Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Johnson Rice raised Halliburton to a “moderate buy” rating in a research report on Friday, July 19th. TD Cowen lowered their target price on Halliburton from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, Dbs Bank began coverage on shares of Halliburton in a report on Wednesday, September 18th. They issued a “buy” rating and a $45.00 price objective for the company. Three research 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $42.56.

Insider Buying and Selling at Halliburton

In other news, EVP Van H. Beckwith sold 10,000 shares of Halliburton stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total transaction of $367,500.00. Following the completion of the transaction, the executive vice president now directly owns 273,908 shares of the company’s stock, valued at approximately $10,066,119. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Halliburton Stock Performance

Shares of HAL opened at $29.05 on Tuesday. 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 has a one year low of $27.52 and a one year high of $43.85. The stock has a market cap of $25.72 billion, a P/E ratio of 10.05, a P/E/G ratio of 1.02 and a beta of 1.89. The stock has a 50-day moving average of $30.73 and a two-hundred day moving average of $34.51.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.95 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 earnings per share. As a group, research analysts predict that Halliburton will post 3.14 EPS for the current year.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Wednesday, September 4th. Halliburton’s dividend payout ratio is currently 23.53%.

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.