Halliburton Company (NYSE:HAL) Sees Large Decrease in Short Interest

Halliburton Company (NYSE:HAL) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 31,283,491 shares, a decrease of 15.0% from the March 15th total of 36,815,095 shares. Currently, 3.8% of the shares of the stock are sold short. Based on an average trading volume of 19,851,547 shares, the days-to-cover ratio is currently 1.6 days.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HAL shares. Weiss Ratings restated a “hold (c)” rating on shares of Halliburton in a report on Friday, April 10th. Jefferies Financial Group reiterated a “buy” rating and set a $39.00 target price on shares of Halliburton in a report on Friday, February 6th. The Goldman Sachs Group increased their target price on shares of Halliburton from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Capital One Financial increased their target price on shares of Halliburton from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Finally, Zephirin Group lowered shares of Halliburton from a “buy” rating to a “hold” rating and dropped their target price for the stock from $30.00 to $28.00 in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.81.

Halliburton Stock Down 2.6%

Shares of NYSE:HAL traded down $0.99 during trading on Friday, hitting $37.16. The stock had a trading volume of 15,323,287 shares, compared to its average volume of 15,642,951. Halliburton has a 12 month low of $19.22 and a 12 month high of $41.18. The company has a market capitalization of $31.04 billion, a PE ratio of 24.61, a PEG ratio of 1.66 and a beta of 0.68. The firm’s fifty day moving average is $36.26 and its 200 day moving average is $30.93. The company has a quick ratio of 1.51, a current ratio of 2.04 and a debt-to-equity ratio of 0.68.

Halliburton (NYSE:HAL) last announced its earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.14. Halliburton had a net margin of 5.78% and a return on equity of 19.77%. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the firm earned $0.73 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. Analysts anticipate that Halliburton will post 2.64 EPS for the current fiscal year.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.8%. Halliburton’s dividend payout ratio (DPR) is currently 45.03%.

Insiders Place Their Bets

In related news, EVP Van H. Beckwith sold 54,348 shares of the stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $34.96, for a total value of $1,900,006.08. Following the transaction, the executive vice president owned 344,535 shares of the company’s stock, valued at $12,044,943.60. This represents a 13.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Allen Miller sold 171,200 shares of the stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $34.96, for a total value of $5,985,152.00. Following the completion of the transaction, the chief executive officer directly owned 1,101,243 shares in the company, valued at approximately $38,499,455.28. This represents a 13.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 415,508 shares of company stock valued at $15,291,882 over the last quarter. Insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Halliburton

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Halliburton by 7.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company’s stock valued at $2,353,000 after acquiring an additional 6,507 shares in the last quarter. Woodline Partners LP increased its position in shares of Halliburton by 39.0% during the first quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company’s stock valued at $1,861,000 after acquiring an additional 20,583 shares in the last quarter. Focus Partners Wealth increased its position in shares of Halliburton by 25.0% during the first quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company’s stock valued at $1,320,000 after acquiring an additional 10,408 shares in the last quarter. Intech Investment Management LLC boosted its holdings in Halliburton by 309.1% in the first quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company’s stock worth $1,749,000 after purchasing an additional 52,092 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Halliburton in the first quarter worth approximately $895,000. Institutional investors own 85.23% of the company’s stock.

About Halliburton

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.