Penserra Capital Management LLC reduced its position in Halliburton (NYSE:HAL) by 19.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,374 shares of the oilfield services company’s stock after selling 1,051 shares during the period. Penserra Capital Management LLC’s holdings in Halliburton were worth $82,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. ELCO Management Co. LLC grew its holdings in Halliburton by 1.0% during the 2nd quarter. ELCO Management Co. LLC now owns 48,310 shares of the oilfield services company’s stock worth $1,099,000 after acquiring an additional 500 shares in the last quarter. Lee Financial Co raised its stake in shares of Halliburton by 17.9% in the 2nd quarter. Lee Financial Co now owns 3,558 shares of the oilfield services company’s stock valued at $81,000 after purchasing an additional 539 shares in the last quarter. LS Investment Advisors LLC lifted its position in shares of Halliburton by 1.8% during the third quarter. LS Investment Advisors LLC now owns 30,793 shares of the oilfield services company’s stock worth $580,000 after purchasing an additional 552 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in shares of Halliburton by 5.9% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 10,707 shares of the oilfield services company’s stock worth $243,000 after purchasing an additional 600 shares during the last quarter. Finally, Argyle Capital Management Inc. grew its stake in Halliburton by 1.1% in the third quarter. Argyle Capital Management Inc. now owns 54,500 shares of the oilfield services company’s stock worth $1,027,000 after purchasing an additional 600 shares in the last quarter. Institutional investors own 77.84% of the company’s stock.
In related news, Director William E. Albrecht bought 8,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were purchased at an average cost of $19.35 per share, with a total value of $154,800.00. Following the completion of the transaction, the director now directly owns 16,000 shares of the company’s stock, valued at $309,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is owned by company insiders.
HAL has been the subject of several research analyst reports. Citigroup lowered their price objective on Halliburton from $27.00 to $25.00 and set a “buy” rating for the company in a report on Friday, October 18th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Halliburton in a report on Friday, October 11th. Royal Bank of Canada decreased their target price on Halliburton from $28.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. Deutsche Bank assumed coverage on Halliburton in a report on Wednesday, November 27th. They issued a “buy” rating and a $26.00 price target for the company. Finally, Morgan Stanley lowered their price target on Halliburton from $36.00 to $30.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $30.61.
NYSE:HAL opened at $21.29 on Tuesday. The firm has a market capitalization of $18.43 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 3.94 and a beta of 1.49. The stock has a 50 day moving average of $20.28 and a 200-day moving average of $20.92. Halliburton has a 52 week low of $16.97 and a 52 week high of $33.11. The company has a current ratio of 2.39, a quick ratio of 1.67 and a debt-to-equity ratio of 1.13.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, October 21st. The oilfield services company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. Halliburton had a return on equity of 12.03% and a net margin of 5.12%. The business had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.82 billion. During the same period in the prior year, the firm earned $0.50 EPS. The business’s quarterly revenue was down 10.1% on a year-over-year basis. As a group, analysts predict that Halliburton will post 1.22 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Thursday, December 5th will be paid a dividend of $0.18 per share. The ex-dividend date is Wednesday, December 4th. This represents a $0.72 dividend on an annualized basis and a yield of 3.38%. Halliburton’s payout ratio is currently 37.89%.
Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
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