The Manufacturers Life Insurance Company Sells 19,751 Shares of Halliburton (NYSE:HAL)

The Manufacturers Life Insurance Company decreased its position in shares of Halliburton (NYSE:HAL) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 705,492 shares of the oilfield services company’s stock after selling 19,751 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of Halliburton worth $20,495,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Country Trust Bank bought a new position in Halliburton during the third quarter worth about $36,000. Bruce G. Allen Investments LLC lifted its stake in shares of Halliburton by 274.9% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock valued at $38,000 after buying an additional 822 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Halliburton in the 3rd quarter worth approximately $44,000. Venturi Wealth Management LLC grew its stake in Halliburton by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock valued at $47,000 after buying an additional 412 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in Halliburton by 28.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock valued at $51,000 after acquiring an additional 393 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Stock Down 0.1 %

Shares of NYSE:HAL opened at $31.86 on Friday. Halliburton has a 1 year low of $27.26 and a 1 year high of $41.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62. The stock’s 50-day moving average is $29.72 and its 200 day moving average is $31.81. The company has a market cap of $27.99 billion, a PE ratio of 11.10, a P/E/G ratio of 3.93 and a beta of 1.89.

Halliburton (NYSE:HAL) last announced its earnings results 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 business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. Halliburton’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.79 EPS. Sell-side analysts anticipate that Halliburton will post 3.01 EPS for the current year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Wednesday, December 4th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, December 4th. Halliburton’s dividend payout ratio is currently 23.69%.

Analyst Ratings Changes

A number of research firms have recently commented on HAL. UBS Group cut their price target on Halliburton from $41.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. BMO Capital Markets reduced their target price on Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Barclays lowered their price target on shares of Halliburton from $47.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Dbs Bank started coverage on shares of Halliburton in a research note on Wednesday, September 18th. They set a “buy” rating and a $45.00 price objective for the company. Finally, Wells Fargo & Company cut their price target on shares of Halliburton from $46.00 to $39.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Halliburton has an average 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.