Wahed Invest LLC Cuts Stake in Halliburton (NYSE:HAL)

Wahed Invest LLC lessened its stake in Halliburton (NYSE:HAL) by 4.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,362 shares of the oilfield services company’s stock after selling 1,043 shares during the quarter. Wahed Invest LLC’s holdings in Halliburton were worth $554,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sanders Capital LLC boosted its holdings in shares of Halliburton by 1.6% during the 4th quarter. Sanders Capital LLC now owns 24,372,694 shares of the oilfield services company’s stock valued at $662,694,000 after purchasing an additional 375,054 shares during the last quarter. Geode Capital Management LLC boosted its stake in Halliburton by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 21,538,632 shares of the oilfield services company’s stock valued at $584,139,000 after buying an additional 908,271 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Halliburton by 10.4% during the 4th quarter. Pacer Advisors Inc. now owns 18,530,937 shares of the oilfield services company’s stock valued at $503,856,000 after buying an additional 1,748,763 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Halliburton by 15.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,093,680 shares of the oilfield services company’s stock worth $437,587,000 after acquiring an additional 2,171,722 shares during the last quarter. Finally, Amundi raised its holdings in shares of Halliburton by 22.2% during the 4th quarter. Amundi now owns 13,068,025 shares of the oilfield services company’s stock worth $353,242,000 after acquiring an additional 2,378,043 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays cut their target price on shares of Halliburton from $29.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, April 23rd. Hsbc Global Res upgraded shares of Halliburton to a “hold” rating in a report on Wednesday, April 23rd. Susquehanna dropped their price target on Halliburton from $32.00 to $30.00 and set a “positive” rating for the company in a research report on Wednesday, April 23rd. UBS Group decreased their price objective on Halliburton from $23.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Finally, Wells Fargo & Company lowered their price objective on Halliburton from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.84.

Insider Activity

In related news, VP Timothy Mckeon sold 10,497 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $24.60, for a total value of $258,226.20. Following the completion of the transaction, the vice president now owns 77,784 shares of the company’s stock, valued at $1,913,486.40. The trade was a 11.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Eric Carre sold 141,206 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $26.13, for a total value of $3,689,712.78. Following the sale, the chief financial officer now directly owns 127,101 shares in the company, valued at $3,321,149.13. This trade represents a 52.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,782 shares of company stock worth $5,321,170. 0.61% of the stock is currently owned by corporate insiders.

Halliburton Stock Up 3.4 %

Shares of NYSE HAL opened at $20.60 on Friday. Halliburton has a 52-week low of $18.72 and a 52-week high of $38.35. The firm has a market capitalization of $17.76 billion, a price-to-earnings ratio of 7.28, a PEG ratio of 3.79 and a beta of 1.45. The stock has a 50 day moving average price of $23.11 and a 200 day moving average price of $26.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 2.05.

Halliburton (NYSE:HAL) last issued its earnings results on Tuesday, April 22nd. The oilfield services company reported $0.60 earnings per share for the quarter, hitting the consensus estimate of $0.60. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Halliburton had a return on equity of 26.03% and a net margin of 10.90%. Sell-side analysts expect that Halliburton will post 2.64 earnings per share for the current year.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date was Wednesday, March 5th. Halliburton’s dividend payout ratio (DPR) is 28.45%.

Halliburton Company 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.