Halliburton (NYSE:HAL) Stock Position Raised by Pitcairn Co.

Pitcairn Co. lifted its holdings in shares of Halliburton (NYSE:HAL) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,118 shares of the oilfield services company’s stock after buying an additional 406 shares during the period. Pitcairn Co.’s holdings in Halliburton were worth $714,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Franklin Resources Inc. grew its position in Halliburton by 19.1% in the 4th quarter. Franklin Resources Inc. now owns 1,179,579 shares of the oilfield services company’s stock worth $42,642,000 after purchasing an additional 189,324 shares during the last quarter. Cerity Partners LLC grew its position in Halliburton by 69.5% in the 4th quarter. Cerity Partners LLC now owns 206,692 shares of the oilfield services company’s stock worth $7,472,000 after purchasing an additional 84,771 shares during the last quarter. KLCM Advisors Inc. grew its position in Halliburton by 6.9% in the 4th quarter. KLCM Advisors Inc. now owns 490,230 shares of the oilfield services company’s stock worth $17,722,000 after purchasing an additional 31,534 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in Halliburton in the 1st quarter worth about $1,908,000. Finally, GAMMA Investing LLC grew its position in Halliburton by 10.9% in the 1st quarter. GAMMA Investing LLC now owns 8,350 shares of the oilfield services company’s stock worth $329,000 after purchasing an additional 819 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on HAL. Wells Fargo & Company decreased their target price on shares of Halliburton from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Benchmark reaffirmed a “buy” rating and issued a $42.00 price target on shares of Halliburton in a research note on Monday. Evercore ISI reduced their price target on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday. StockNews.com lowered shares of Halliburton from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. Finally, Bank of America reduced their price target on shares of Halliburton from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.53.

Insiders Place Their Bets

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total value of $369,200.00. Following the sale, the executive vice president now directly owns 283,908 shares in the company, valued at approximately $10,481,883.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Van H. Beckwith sold 10,000 shares of Halliburton stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total transaction of $369,200.00. Following the sale, the executive vice president now directly owns 283,908 shares in the company, valued at approximately $10,481,883.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffrey Shannon Slocum sold 38,941 shares of Halliburton stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total transaction of $1,437,701.72. Following the sale, the insider now owns 130,783 shares in the company, valued at $4,828,508.36. The disclosure for this sale can be found here. Insiders have sold 62,287 shares of company stock worth $2,298,204 in the last ninety days. Insiders own 0.61% of the company’s stock.

Halliburton Stock Up 3.5 %

Shares of Halliburton stock traded up $1.17 during midday trading on Thursday, reaching $34.16. 10,806,937 shares of the company’s stock traded hands, compared to its average volume of 7,549,432. The company has a market cap of $30.24 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 1.11 and a beta of 1.93. Halliburton has a 52 week low of $32.60 and a 52 week high of $43.85. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13. The company’s 50 day simple moving average is $34.60 and its 200 day simple moving average is $36.06.

Halliburton (NYSE:HAL) last announced its earnings results on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The firm had revenue of $5.83 billion for the quarter, compared to the consensus estimate of $5.95 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. Equities analysts expect that Halliburton will post 3.22 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.68 annualized dividend and a yield of 1.99%. Halliburton’s dividend payout ratio is 23.53%.

Halliburton 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.