Prime Capital Investment Advisors LLC Decreases Stake in Halliburton (NYSE:HAL)

Prime Capital Investment Advisors LLC lessened its position in Halliburton (NYSE:HAL – Get Rating) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 80,433 shares of the oilfield services company’s stock after selling 512 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Halliburton were worth $1,980,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HAL. Consolidated Planning Corp raised its stake in Halliburton by 0.5% in the third quarter. Consolidated Planning Corp now owns 51,755 shares of the oilfield services company’s stock worth $1,274,000 after buying an additional 270 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in shares of Halliburton by 20.3% during the 3rd quarter. GHP Investment Advisors Inc. now owns 1,666 shares of the oilfield services company’s stock worth $41,000 after acquiring an additional 281 shares during the period. Optimum Investment Advisors raised its position in shares of Halliburton by 21.3% in the 3rd quarter. Optimum Investment Advisors now owns 1,931 shares of the oilfield services company’s stock worth $48,000 after acquiring an additional 339 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Halliburton by 0.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 54,759 shares of the oilfield services company’s stock valued at $1,717,000 after purchasing an additional 361 shares during the period. Finally, Sumitomo Life Insurance Co. boosted its position in shares of Halliburton by 2.7% during the second quarter. Sumitomo Life Insurance Co. now owns 14,306 shares of the oilfield services company’s stock valued at $449,000 after purchasing an additional 376 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Halliburton Stock Down 0.3 %

HAL opened at $41.09 on Wednesday. The stock has a market capitalization of $37.31 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 0.30 and a beta of 2.15. The firm has a 50 day moving average price of $38.58 and a 200-day moving average price of $33.58. Halliburton has a twelve month low of $23.30 and a twelve month high of $43.99. The company has a quick ratio of 1.50, a current ratio of 2.05 and a debt-to-equity ratio of 0.99.

Halliburton (NYSE:HAL – Get Rating) last announced its earnings results on Tuesday, January 24th. The oilfield services company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.05. The business had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.59 billion. Halliburton had a net margin of 7.74% and a return on equity of 26.25%. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 EPS. Equities research analysts forecast that Halliburton will post 3.09 earnings per share for the current year.

Halliburton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 29th. Shareholders of record on Wednesday, March 1st will be paid a dividend of $0.16 per share. This is an increase from Halliburton’s previous quarterly dividend of $0.12. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, February 28th. Halliburton’s payout ratio is currently 36.99%.

Insider Activity

In related news, EVP Van H. Beckwith sold 9,006 shares of the firm’s stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $37.75, for a total value of $339,976.50. Following the transaction, the executive vice president now owns 234,691 shares of the company’s stock, valued at $8,859,585.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Halliburton news, EVP Van H. Beckwith sold 9,006 shares of the stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $37.75, for a total value of $339,976.50. Following the transaction, the executive vice president now directly owns 234,691 shares in the company, valued at $8,859,585.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Van H. Beckwith sold 11,044 shares of Halliburton stock in a transaction on Monday, December 5th. The stock was sold at an average price of $39.50, for a total transaction of $436,238.00. Following the transaction, the executive vice president now owns 249,291 shares in the company, valued at approximately $9,846,994.50. The disclosure for this sale can be found here. Insiders sold 53,153 shares of company stock valued at $2,092,775 in the last quarter. 0.57% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on HAL. The Goldman Sachs Group increased their price objective on Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Monday. Susquehanna Bancshares increased their price target on shares of Halliburton from $48.00 to $51.00 in a research note on Wednesday, October 26th. HSBC boosted their price objective on shares of Halliburton from $43.90 to $57.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company raised their target price on shares of Halliburton from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, January 25th. Finally, Raymond James initiated coverage on Halliburton in a research report on Friday, December 9th. They issued a “strong-buy” rating and a $53.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $48.67.

About Halliburton

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Halliburton Co engages in the provision of services and products to the energy industry related to the exploration, development and production of oil and natural gas. It operates through the following segments: Completion and Production and Drilling and Evaluation. The Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift and completion services.