Halliburton (NYSE:HAL) Holdings Cut by Fmr LLC

Fmr LLC trimmed its stake in Halliburton (NYSE:HAL) by 30.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,613,754 shares of the oilfield services company’s stock after selling 2,051,425 shares during the quarter. Fmr LLC’s holdings in Halliburton were worth $134,030,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bruce G. Allen Investments LLC grew its position in Halliburton by 274.9% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock worth $38,000 after purchasing an additional 822 shares during the last quarter. Country Trust Bank acquired a new stake in Halliburton in the 3rd quarter valued at approximately $36,000. ORG Wealth Partners LLC bought a new stake in Halliburton during the 3rd quarter valued at $44,000. Mattson Financial Services LLC acquired a new position in Halliburton during the 2nd quarter worth $54,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Halliburton by 34.2% in the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after purchasing an additional 412 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HAL. Dbs Bank assumed coverage on shares of Halliburton in a research note on Wednesday, September 18th. They set a “buy” rating and a $45.00 price objective on the stock. Morgan Stanley reduced their price target on shares of Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. The Goldman Sachs Group lowered their price objective on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Jefferies Financial Group decreased their price target on Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Finally, Susquehanna dropped their price objective on Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and an average target price of $40.74.

Halliburton Trading Up 0.5 %

Halliburton stock opened at $31.72 on Wednesday. Halliburton has a 12 month low of $27.26 and a 12 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. The stock has a market cap of $27.87 billion, a P/E ratio of 11.05, a P/E/G ratio of 3.90 and a beta of 1.90. The company’s fifty day simple moving average is $29.79 and its 200-day simple moving average is $31.69.

Halliburton (NYSE:HAL) last issued its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.02). The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 earnings per share. As a group, sell-side analysts forecast that Halliburton will post 3 EPS for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, December 4th. Halliburton’s dividend payout ratio (DPR) is presently 23.69%.

Halliburton 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.