Wedge Capital Management L L P NC lowered its stake in Halliburton Company (NYSE:HAL – Free Report) by 14.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 320,071 shares of the oilfield services company’s stock after selling 54,281 shares during the period. Wedge Capital Management L L P NC’s holdings in Halliburton were worth $10,866,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Nvest Wealth Strategies Inc. acquired a new position in Halliburton in the 4th quarter valued at $25,000. Kelleher Financial Advisors acquired a new stake in shares of Halliburton in the 3rd quarter worth $25,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Halliburton in the 2nd quarter worth $25,000. Zions Bancorporation National Association UT boosted its holdings in shares of Halliburton by 196.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock valued at $28,000 after acquiring an additional 650 shares in the last quarter. Finally, Matrix Trust Co purchased a new stake in shares of Halliburton in the second quarter valued at about $29,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.
Halliburton Trading Down 1.4%
Shares of Halliburton stock opened at $33.31 on Thursday. Halliburton Company has a 12-month low of $20.57 and a 12-month high of $43.59. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64. The stock has a market cap of $27.75 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 2.11 and a beta of 0.73. The company has a 50-day moving average of $34.68 and a two-hundred day moving average of $36.48.
Halliburton Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.68 annualized dividend and a yield of 2.0%. Halliburton’s payout ratio is currently 35.60%.
Insiders Place Their Bets
In other Halliburton news, EVP Van H. Beckwith sold 198,349 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $41.29, for a total transaction of $8,189,830.21. Following the sale, the executive vice president directly owned 146,186 shares in the company, valued at approximately $6,036,019.94. The trade was a 57.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $35.89, for a total value of $889,282.42. Following the completion of the sale, the chief financial officer directly owned 148,520 shares in the company, valued at $5,330,382.80. This trade represents a 14.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several research analysts recently issued reports on HAL shares. Wolfe Research started coverage on shares of Halliburton in a report on Wednesday, July 8th. They set a “peer perform” rating for the company. Capital One Financial lifted their price objective on Halliburton from $41.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Citigroup boosted their target price on Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Barclays cut their target price on Halliburton from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. Finally, TD Cowen reduced their price target on Halliburton from $48.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.10.
Get Our Latest Stock Analysis on Halliburton
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.
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