Prime Capital Investment Advisors LLC Sells 3,087 Shares of Halliburton (NYSE:HAL)

Prime Capital Investment Advisors LLC lessened its holdings in shares of Halliburton (NYSE:HAL) by 3.7% in the second quarter, Holdings Channel.com reports. The fund owned 79,565 shares of the oilfield services company’s stock after selling 3,087 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Halliburton were worth $2,688,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in Halliburton in the 1st quarter worth $26,000. IAG Wealth Partners LLC bought a new position in Halliburton in the first quarter worth about $30,000. Johnson Financial Group Inc. purchased a new stake in Halliburton in the fourth quarter worth about $33,000. Bruce G. Allen Investments LLC boosted its position in Halliburton by 274.9% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock valued at $38,000 after acquiring an additional 822 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new position in shares of Halliburton during the 1st quarter worth approximately $46,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Bank of America lowered their target price on Halliburton from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Jefferies Financial Group dropped their target price on shares of Halliburton from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Monday, July 29th. Evercore ISI decreased their price target on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Stifel Nicolaus dropped their price objective on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Finally, StockNews.com downgraded shares of Halliburton from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.88.

Halliburton Trading Up 1.9 %

Shares of NYSE:HAL opened at $28.41 on Tuesday. 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 1 year low of $27.52 and a 1 year high of $43.85. The company has a market cap of $25.15 billion, a P/E ratio of 9.83, a PEG ratio of 0.95 and a beta of 1.89. The stock’s fifty day moving average price is $31.80 and its 200-day moving average price is $35.00.

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

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.39%. The ex-dividend date is Wednesday, September 4th. Halliburton’s dividend payout ratio is currently 23.53%.

Insider Buying and Selling

In other news, EVP Van H. Beckwith sold 10,000 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $36.75, for a total transaction of $367,500.00. Following 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 Securities & Exchange Commission, which is available through this link. 0.61% of the stock is currently owned by corporate insiders.

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.