Van ECK Associates Corp Sells 865,746 Shares of Halliburton (NYSE:HAL)

Van ECK Associates Corp lessened its holdings in Halliburton (NYSE:HAL) by 18.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,859,700 shares of the oilfield services company’s stock after selling 865,746 shares during the quarter. Van ECK Associates Corp owned approximately 0.44% of Halliburton worth $87,770,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of HAL. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Halliburton by 2.6% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 693,340 shares of the oilfield services company’s stock worth $15,760,000 after acquiring an additional 17,762 shares during the last quarter. Pillar Pacific Capital Management LLC boosted its stake in Halliburton by 5.9% during the 2nd quarter. Pillar Pacific Capital Management LLC now owns 123,824 shares of the oilfield services company’s stock worth $2,817,000 after acquiring an additional 6,945 shares during the last quarter. Stone Ridge Asset Management LLC boosted its stake in Halliburton by 535.4% during the 2nd quarter. Stone Ridge Asset Management LLC now owns 369,085 shares of the oilfield services company’s stock worth $8,393,000 after acquiring an additional 311,000 shares during the last quarter. Verity Asset Management Inc. bought a new position in Halliburton during the 2nd quarter worth approximately $748,000. Finally, W.G. Shaheen & Associates DBA Whitney & Co boosted its stake in Halliburton by 1.5% during the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 153,491 shares of the oilfield services company’s stock worth $3,490,000 after acquiring an additional 2,247 shares during the last quarter. 79.03% of the stock is currently owned by institutional investors.

Shares of NYSE HAL traded down $0.95 during midday trading on Friday, reaching $17.72. The company’s stock had a trading volume of 11,802,555 shares, compared to its average volume of 13,954,870. The company has a current ratio of 2.26, a quick ratio of 1.59 and a debt-to-equity ratio of 1.16. Halliburton has a fifty-two week low of $17.46 and a fifty-two week high of $42.57. The stock has a market capitalization of $16.35 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 2.20 and a beta of 1.30. The stock has a 50 day simple moving average of $21.38 and a 200-day simple moving average of $25.84.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Monday, July 22nd. The oilfield services company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. Halliburton had a net margin of 5.58% and a return on equity of 13.76%. The company had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.97 billion. During the same period last year, the company earned $0.58 earnings per share. The firm’s revenue was down 3.5% compared to the same quarter last year. As a group, equities analysts anticipate that Halliburton will post 1.34 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.06%. Halliburton’s dividend payout ratio (DPR) is presently 37.89%.

Several research analysts recently weighed in on the stock. Stephens reduced their price objective on shares of Halliburton from $45.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Bank of America reissued a “buy” rating and set a $32.00 price objective (down previously from $42.00) on shares of Halliburton in a research note on Tuesday, June 25th. Cowen reissued an “outperform” rating and set a $35.00 price objective (up previously from $33.00) on shares of Halliburton in a research note on Tuesday, July 23rd. Credit Suisse Group reduced their price objective on shares of Halliburton from $33.00 to $27.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 23rd. Finally, Citigroup reduced their price objective on shares of Halliburton from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Halliburton presently has a consensus rating of “Buy” and an average target price of $39.78.

Halliburton Profile

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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