State of New Jersey Common Pension Fund D Reduces Stake in Halliburton (NYSE:HAL)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Halliburton (NYSE:HAL) by 39.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 311,731 shares of the oilfield services company’s stock after selling 201,139 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Halliburton were worth $10,530,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several analysts have commented on HAL shares. Piper Sandler dropped their price objective on Halliburton from $46.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Bank of America cut their price target on shares of Halliburton from $41.00 to $40.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Royal Bank of Canada downgraded shares of Halliburton from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $44.00 to $37.00 in a report on Friday. Evercore ISI reduced their price target on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Finally, Barclays lowered their price objective on Halliburton from $54.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.47.

Insider Transactions at Halliburton

In related news, EVP Van H. Beckwith sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $36.75, for a total value 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 $10,066,119. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Halliburton Trading Down 0.5 %

HAL opened at $27.87 on Friday. The business has a fifty day moving average price of $31.90 and a 200 day moving average price of $35.05. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 1.54. Halliburton has a 12 month low of $27.52 and a 12 month high of $43.85. The stock has a market capitalization of $24.67 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 0.95 and a beta of 1.89.

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

Halliburton Dividend Announcement

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 given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $0.68 annualized dividend and a dividend yield of 2.44%. Halliburton’s dividend payout ratio is currently 23.53%.

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.