Halliburton (NYSE:HAL) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in Halliburton (NYSE:HAL) by 1.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 742,334 shares of the oilfield services company’s stock after buying an additional 8,405 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Halliburton were worth $21,565,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Halliburton during the 3rd quarter worth about $6,253,000. Banque Cantonale Vaudoise lifted its holdings in shares of Halliburton by 171.7% during the 3rd quarter. Banque Cantonale Vaudoise now owns 30,852 shares of the oilfield services company’s stock valued at $896,000 after buying an additional 19,496 shares during the last quarter. Caprock Group LLC grew its position in Halliburton by 7.6% in the third quarter. Caprock Group LLC now owns 67,765 shares of the oilfield services company’s stock worth $1,969,000 after acquiring an additional 4,807 shares in the last quarter. Pathstone Holdings LLC increased its position in Halliburton by 6.7% during the third quarter. Pathstone Holdings LLC now owns 144,675 shares of the oilfield services company’s stock worth $4,203,000 after buying an additional 9,118 shares during the last quarter. Finally, Meeder Advisory Services Inc. boosted its stake in shares of Halliburton by 8.2% during the 3rd quarter. Meeder Advisory Services Inc. now owns 24,504 shares of the oilfield services company’s stock worth $712,000 after acquiring an additional 1,848 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Halliburton Stock Performance

NYSE HAL opened at $31.99 on Friday. The company’s 50 day moving average is $29.37 and its 200-day moving average is $32.07. The firm has a market cap of $28.10 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 3.75 and a beta of 1.89. 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.

Halliburton (NYSE:HAL) last posted 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). The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 EPS. Sell-side analysts predict that Halliburton will post 3.01 earnings per share for the current year.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th will be issued a $0.17 dividend. 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 payout ratio is 23.69%.

Wall Street Analysts Forecast Growth

HAL has been the subject of several recent analyst reports. Jefferies Financial Group decreased their price objective on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Raymond James reduced their target price on shares of Halliburton from $41.00 to $37.00 and set a “strong-buy” rating for the company in a research note on Friday, November 8th. Stifel Nicolaus decreased their price objective on Halliburton from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Barclays dropped their target price on Halliburton from $47.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Finally, Wells Fargo & Company decreased their price target on Halliburton from $46.00 to $39.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.74.

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.