Renaissance Investment Group LLC Has $3.75 Million Stock Position in Halliburton (NYSE:HAL)

Renaissance Investment Group LLC lessened its stake in Halliburton (NYSE:HAL) by 3.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 138,062 shares of the oilfield services company’s stock after selling 4,517 shares during the quarter. Renaissance Investment Group LLC’s holdings in Halliburton were worth $3,754,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Country Trust Bank acquired a new position in Halliburton in the 3rd quarter worth $36,000. Modus Advisors LLC bought a new stake in shares of Halliburton in the fourth quarter valued at about $38,000. Continuum Advisory LLC boosted its position in shares of Halliburton by 101.2% during the third quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock worth $42,000 after buying an additional 698 shares during the period. ORG Wealth Partners LLC acquired a new stake in Halliburton in the 3rd quarter valued at approximately $44,000. Finally, Venturi Wealth Management LLC lifted 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 acquiring an additional 412 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Halliburton Stock Up 2.3 %

Shares of HAL opened at $29.96 on Friday. The firm has a market cap of $26.32 billion, a P/E ratio of 10.44, a price-to-earnings-growth ratio of 3.36 and a beta of 1.91. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21. Halliburton has a 52 week low of $25.51 and a 52 week high of $41.56. The firm’s 50-day simple moving average is $28.94 and its 200 day simple moving average is $30.16.

Halliburton (NYSE:HAL) last posted its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. Halliburton’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 EPS. On average, analysts forecast that Halliburton will post 2.99 earnings per share for the current year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Wednesday, December 4th. Halliburton’s dividend payout ratio is currently 23.69%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays reiterated an “equal weight” rating and issued a $33.00 price objective (down from $43.00) on shares of Halliburton in a report on Wednesday, December 18th. Jefferies Financial Group cut their price target on shares of Halliburton from $43.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. BMO Capital Markets decreased their price objective on Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Morgan Stanley dropped their target price on Halliburton from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Finally, Susquehanna lowered their price target on Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.26.

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.