Halliburton Company $HAL Stock Position Cut by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its stake in shares of Halliburton Company (NYSE:HAL) by 8.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 179,114 shares of the oilfield services company’s stock after selling 17,127 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Halliburton were worth $6,984,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Capital Research Global Investors raised its holdings in Halliburton by 81.8% during the third quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company’s stock worth $2,239,349,000 after purchasing an additional 40,969,139 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Halliburton by 82,596.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after purchasing an additional 29,735,387 shares in the last quarter. Norges Bank acquired a new position in shares of Halliburton during the 4th quarter valued at $169,304,000. Holocene Advisors LP acquired a new position in shares of Halliburton during the 3rd quarter valued at $147,315,000. Finally, AQR Capital Management LLC increased its position in shares of Halliburton by 85.5% during the 2nd quarter. AQR Capital Management LLC now owns 8,610,870 shares of the oilfield services company’s stock valued at $175,490,000 after purchasing an additional 3,969,759 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HAL. Royal Bank Of Canada upped their price objective on Halliburton from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. HSBC lifted their target price on Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Jefferies Financial Group reiterated a “buy” rating and issued a $47.00 price target on shares of Halliburton in a research report on Sunday, April 26th. TD Cowen upped their price target on shares of Halliburton from $40.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, Capital One Financial raised their price objective on shares of Halliburton from $41.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.32.

Insider Buying and Selling

In other news, EVP Van H. Beckwith sold 198,349 shares of Halliburton stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $41.29, for a total value of $8,189,830.21. Following the transaction, the executive vice president directly owned 146,186 shares of the company’s stock, valued at $6,036,019.94. This trade represents a 57.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Tobi M. Young sold 6,125 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $41.72, for a total transaction of $255,535.00. Following the sale, the director owned 15,250 shares in the company, valued at $636,230. This represents a 28.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 258,255 shares of company stock valued at $10,550,535. Company insiders own 0.57% of the company’s stock.

Halliburton Stock Up 0.1%

Shares of Halliburton stock opened at $32.98 on Friday. Halliburton Company has a 12-month low of $20.17 and a 12-month high of $43.59. The firm has a market capitalization of $27.55 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71. The company has a quick ratio of 1.54, a current ratio of 2.08 and a debt-to-equity ratio of 0.65. The stock’s fifty day moving average is $38.90 and its 200-day moving average is $35.80.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The business had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.37 billion. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.Halliburton’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the company posted $0.60 EPS. Equities analysts anticipate that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.1%. Halliburton’s dividend payout ratio is currently 37.36%.

Halliburton Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.