Halliburton (NYSE:HAL) Stake Reduced by Reliant Investment Management LLC

Reliant Investment Management LLC cut its holdings in Halliburton (NYSE:HAL) by 2.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 121,796 shares of the oilfield services company’s stock after selling 3,345 shares during the quarter. Halliburton accounts for about 2.3% of Reliant Investment Management LLC’s portfolio, making the stock its 26th biggest position. Reliant Investment Management LLC’s holdings in Halliburton were worth $4,801,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Franklin Resources Inc. raised its holdings in Halliburton by 19.1% during the 4th quarter. Franklin Resources Inc. now owns 1,179,579 shares of the oilfield services company’s stock worth $42,642,000 after buying an additional 189,324 shares during the period. Nordea Investment Management AB raised its holdings in Halliburton by 271.0% during the 4th quarter. Nordea Investment Management AB now owns 768,057 shares of the oilfield services company’s stock worth $27,781,000 after buying an additional 561,020 shares during the period. Cerity Partners LLC raised its holdings in Halliburton by 69.5% during the 4th quarter. Cerity Partners LLC now owns 206,692 shares of the oilfield services company’s stock worth $7,472,000 after buying an additional 84,771 shares during the period. KLCM Advisors Inc. raised its holdings in Halliburton by 6.9% during the 4th quarter. KLCM Advisors Inc. now owns 490,230 shares of the oilfield services company’s stock worth $17,722,000 after buying an additional 31,534 shares during the period. Finally, Vontobel Holding Ltd. grew its stake in Halliburton by 65.4% during the 4th quarter. Vontobel Holding Ltd. now owns 57,920 shares of the oilfield services company’s stock valued at $2,094,000 after acquiring an additional 22,906 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Halliburton Stock Performance

Halliburton stock traded up $0.17 during trading hours on Friday, reaching $33.78. 19,130,644 shares of the company were exchanged, compared to its average volume of 9,605,074. The firm has a market cap of $29.91 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 0.85 and a beta of 1.93. The company has a current ratio of 2.12, a quick ratio of 1.52 and a debt-to-equity ratio of 0.79. The stock has a 50-day moving average of $35.89 and a 200 day moving average of $36.33. Halliburton has a 12 month low of $32.27 and a 12 month high of $43.85.

Halliburton (NYSE:HAL) last announced its earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.72 earnings per share. As a group, research analysts anticipate that Halliburton will post 3.39 earnings per share for the current year.

Halliburton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.68 dividend on an annualized basis and a yield of 2.01%. Halliburton’s payout ratio is currently 23.53%.

Analyst Ratings Changes

Several research firms have weighed in on HAL. The Goldman Sachs Group lifted their target price on Halliburton from $46.00 to $48.00 in a research note on Tuesday, April 23rd. Susquehanna reaffirmed a “positive” rating and set a $49.00 target price on shares of Halliburton in a research note on Monday, April 8th. StockNews.com raised Halliburton from a “hold” rating to a “buy” rating in a research note on Tuesday. Jefferies Financial Group lifted their target price on Halliburton from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Benchmark reaffirmed a “buy” rating and set a $45.00 target price on shares of Halliburton in a research note on Wednesday, April 24th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Halliburton currently has a consensus rating of “Buy” and a consensus price target of $48.75.

Insiders Place Their Bets

In other news, SVP Jill D. Sharp sold 3,346 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $37.00, for a total transaction of $123,802.00. Following the completion of the transaction, the senior vice president now directly owns 40,185 shares in the company, valued at $1,486,845. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Jeffrey Shannon Slocum sold 38,941 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $36.92, for a total value of $1,437,701.72. Following the completion of the transaction, the insider now directly owns 130,783 shares in the company, valued at $4,828,508.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jill D. Sharp sold 3,346 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $37.00, for a total value of $123,802.00. Following the completion of the transaction, the senior vice president now owns 40,185 shares of the company’s stock, valued at $1,486,845. The disclosure for this sale can be found here. Insiders sold 52,287 shares of company stock valued at $1,930,704 over the last 90 days. 0.61% of the stock is currently owned by company insiders.

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.