Intech Investment Management LLC Reduces Holdings in Halliburton Company $HAL

Intech Investment Management LLC decreased its holdings in Halliburton Company (NYSE:HAL) by 28.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,066 shares of the oilfield services company’s stock after selling 23,502 shares during the quarter. Intech Investment Management LLC’s holdings in Halliburton were worth $1,669,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Baker Avenue Asset Management LP boosted its holdings in shares of Halliburton by 13.1% in the fourth quarter. Baker Avenue Asset Management LP now owns 40,626 shares of the oilfield services company’s stock worth $1,148,000 after buying an additional 4,705 shares during the last quarter. Arista Wealth Management LLC raised its stake in Halliburton by 40.0% during the 4th quarter. Arista Wealth Management LLC now owns 14,000 shares of the oilfield services company’s stock worth $396,000 after acquiring an additional 4,000 shares during the period. Kingsview Wealth Management LLC raised its stake in Halliburton by 3.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 10,363 shares of the oilfield services company’s stock worth $293,000 after acquiring an additional 365 shares during the period. Texas Capital Bank Wealth Management Services Inc bought a new stake in Halliburton during the 4th quarter worth approximately $207,000. Finally, Fidelis Capital Partners LLC raised its stake in Halliburton by 1.7% during the 4th quarter. Fidelis Capital Partners LLC now owns 22,517 shares of the oilfield services company’s stock worth $636,000 after acquiring an additional 371 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Trading Up 0.5%

Halliburton stock opened at $41.23 on Friday. The stock has a market cap of $34.45 billion, a P/E ratio of 22.66, a PEG ratio of 1.77 and a beta of 0.69. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54. Halliburton Company has a 1 year low of $19.90 and a 1 year high of $43.59. The firm’s 50 day moving average price is $39.76 and its 200-day moving average price is $34.52.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.05. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The company had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the previous year, the business posted $0.60 earnings per share. Halliburton’s quarterly revenue was down .3% on a year-over-year basis. On average, equities analysts predict that Halliburton Company will post 2.34 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, June 3rd. Halliburton’s payout ratio is currently 37.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HAL shares. Evercore raised their target price on shares of Halliburton from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Morgan Stanley raised their target price on shares of Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Citigroup raised their target price on shares of Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Finally, HSBC raised their target price on shares of Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.27.

Insider Buying and Selling

In related news, EVP Van H. Beckwith sold 198,349 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $41.29, for a total value of $8,189,830.21. Following the sale, the executive vice president owned 146,186 shares in the company, valued at approximately $6,036,019.94. The trade was a 57.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Timothy Mckeon sold 8,655 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $42.00, for a total transaction of $363,510.00. Following the completion of the sale, the vice president owned 72,976 shares in the company, valued at $3,064,992. This represents a 10.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 416,991 shares of company stock valued at $16,846,948 in the last three months. Corporate insiders own 0.57% of the company’s stock.

Halliburton Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.