Robeco Institutional Asset Management B.V. Cuts Position in Halliburton (NYSE:HAL)

Robeco Institutional Asset Management B.V. lessened its holdings in Halliburton (NYSE:HAL) by 82.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 79,790 shares of the oilfield services company’s stock after selling 372,980 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Halliburton were worth $2,318,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BSW Wealth Partners boosted its position in shares of Halliburton by 4.9% in the third quarter. BSW Wealth Partners now owns 10,565 shares of the oilfield services company’s stock worth $307,000 after buying an additional 497 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Halliburton by 4.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 152,741 shares of the oilfield services company’s stock valued at $4,437,000 after buying an additional 6,258 shares during the last quarter. Arcadia Investment Management Corp MI raised its stake in Halliburton by 126.2% during the third quarter. Arcadia Investment Management Corp MI now owns 50,205 shares of the oilfield services company’s stock worth $1,458,000 after acquiring an additional 28,010 shares during the period. Stephens Inc. AR boosted its stake in Halliburton by 11.5% in the third quarter. Stephens Inc. AR now owns 105,240 shares of the oilfield services company’s stock valued at $3,057,000 after acquiring an additional 10,831 shares during the period. Finally, US Bancorp DE grew its holdings in shares of Halliburton by 7.0% during the third quarter. US Bancorp DE now owns 148,722 shares of the oilfield services company’s stock valued at $4,320,000 after purchasing an additional 9,721 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HAL shares. Royal Bank of Canada downgraded Halliburton from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $44.00 to $37.00 in a report on Friday, September 13th. The Goldman Sachs Group reduced their price target on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Evercore ISI dropped their price objective on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of Halliburton in a research note on Friday. Finally, Bank of America dropped their price target on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.79.

Halliburton Price Performance

Shares of Halliburton stock opened at $29.23 on Friday. Halliburton has a 52 week low of $27.26 and a 52 week high of $41.56. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. The stock has a market cap of $25.81 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 2.01 and a beta of 1.89. The company’s 50-day moving average price is $29.10 and its two-hundred day moving average price is $32.53.

Halliburton (NYSE:HAL) last released its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 earnings per share. As a group, sell-side analysts anticipate that Halliburton will post 3.12 EPS for the current fiscal year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Wednesday, September 4th. Halliburton’s payout ratio is 22.59%.

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.