Glenmede Trust Co. NA Trims Stock Position in Halliburton (NYSE:HAL)

Glenmede Trust Co. NA trimmed its stake in Halliburton (NYSE:HAL) by 90.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,376 shares of the oilfield services company’s stock after selling 491,845 shares during the period. Glenmede Trust Co. NA’s holdings in Halliburton were worth $1,522,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Townsquare Capital LLC lifted its holdings in Halliburton by 10.1% in the third quarter. Townsquare Capital LLC now owns 28,350 shares of the oilfield services company’s stock worth $824,000 after buying an additional 2,610 shares during the period. Transamerica Financial Advisors Inc. lifted its stake in shares of Halliburton by 60.4% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 4,407 shares of the oilfield services company’s stock valued at $129,000 after purchasing an additional 1,660 shares during the period. Brooklyn Investment Group bought a new stake in shares of Halliburton during the third quarter valued at approximately $62,000. Quantbot Technologies LP purchased a new stake in Halliburton in the third quarter worth $8,775,000. Finally, D.A. Davidson & CO. raised its holdings in Halliburton by 5.0% in the third quarter. D.A. Davidson & CO. now owns 26,643 shares of the oilfield services company’s stock worth $774,000 after purchasing an additional 1,274 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Halliburton Stock Down 0.1 %

HAL opened at $31.86 on Monday. The stock has a market capitalization of $27.99 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 3.92 and a beta of 1.89. The firm has a 50 day moving average price of $29.72 and a 200-day moving average price of $31.77. Halliburton has a twelve month low of $27.26 and a twelve month 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.

Halliburton (NYSE:HAL) last announced its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The company 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 firm posted $0.79 earnings per share. Halliburton’s quarterly revenue was down 1.8% on a year-over-year basis. Equities research analysts forecast that Halliburton will post 3 earnings per share for the current year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend 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 currently 23.69%.

Analyst Ratings Changes

A number of brokerages recently issued reports on HAL. Morgan Stanley lowered their price target on shares of Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Susquehanna decreased their target price on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Friday, November 8th. Wells Fargo & Company dropped their price target on Halliburton from $46.00 to $39.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of Halliburton in a research report on Friday, November 8th. Finally, Jefferies Financial Group dropped their target price on Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.74.

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.