Pitcairn Co. Decreases Holdings in Halliburton (NYSE:HAL)

Pitcairn Co. decreased its stake in Halliburton (NYSE:HAL) by 8.2% during the 3rd quarter, Holdings Channel reports. The firm owned 17,218 shares of the oilfield services company’s stock after selling 1,547 shares during the quarter. Pitcairn Co.’s holdings in Halliburton were worth $500,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Cary Street Partners Asset Management LLC boosted its holdings in Halliburton by 56.5% in the 3rd quarter. Cary Street Partners Asset Management LLC now owns 157,085 shares of the oilfield services company’s stock worth $4,563,000 after buying an additional 56,707 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Halliburton by 146.0% during the second quarter. Canada Pension Plan Investment Board now owns 842,355 shares of the oilfield services company’s stock valued at $28,455,000 after acquiring an additional 500,000 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Halliburton by 105.2% in the second quarter. Mackenzie Financial Corp now owns 186,961 shares of the oilfield services company’s stock valued at $6,316,000 after acquiring an additional 95,864 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Halliburton by 2,418.9% in the third quarter. Quest Partners LLC now owns 78,387 shares of the oilfield services company’s stock worth $2,277,000 after acquiring an additional 75,275 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Halliburton by 23.1% during the third quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock worth $487,522,000 after purchasing an additional 3,150,986 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Trading Up 0.2 %

NYSE:HAL opened at $32.00 on Tuesday. The stock has a fifty day moving average price of $29.52 and a 200 day moving average price of $31.93. The company has a current ratio of 2.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.74. Halliburton has a 12-month low of $27.26 and a 12-month high of $41.56. The firm has a market cap of $28.11 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 3.93 and a beta of 1.89.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 earnings per share. Sell-side analysts anticipate that Halliburton will post 3.01 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, December 4th. Halliburton’s dividend payout ratio is presently 23.69%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HAL. UBS Group decreased their price objective on Halliburton from $41.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. The Goldman Sachs Group lowered their price target on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Bank of America cut their price objective on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, October 14th. Barclays lowered their target price on Halliburton from $47.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, Royal Bank of Canada cut Halliburton from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $44.00 to $37.00 in a report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Halliburton presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.74.

About Halliburton

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.