BlackRock Inc. Sells 1,937,603 Shares of Halliburton (NYSE:HAL)

BlackRock Inc. lessened its stake in shares of Halliburton (NYSE:HAL) by 3.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 63,414,759 shares of the oilfield services company’s stock after selling 1,937,603 shares during the quarter. BlackRock Inc. owned approximately 0.07% of Halliburton worth $1,371,029,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of HAL. Envestnet Asset Management Inc. grew its stake in shares of Halliburton by 21.2% during the second quarter. Envestnet Asset Management Inc. now owns 61,784 shares of the oilfield services company’s stock worth $1,428,000 after buying an additional 10,795 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Halliburton by 13.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 164,404 shares of the oilfield services company’s stock worth $3,801,000 after buying an additional 19,780 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Halliburton by 15.2% during the second quarter. O Shaughnessy Asset Management LLC now owns 21,534 shares of the oilfield services company’s stock worth $498,000 after buying an additional 2,836 shares during the last quarter. Citigroup Inc. grew its stake in shares of Halliburton by 13.5% during the second quarter. Citigroup Inc. now owns 1,401,230 shares of the oilfield services company’s stock worth $32,396,000 after buying an additional 166,216 shares during the last quarter. Finally, Empirical Finance LLC bought a new stake in shares of Halliburton during the second quarter worth $243,000. 75.74% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE HAL opened at $28.74 on Friday. The firm’s 50-day moving average price is $23.57 and its 200-day moving average price is $22.40. Halliburton has a 1-year low of $17.23 and a 1-year high of $28.85. The firm has a market capitalization of $25.73 billion, a P/E ratio of 65.32 and a beta of 2.74. The company has a current ratio of 2.39, a quick ratio of 1.79 and a debt-to-equity ratio of 1.60.

Halliburton (NYSE:HAL) last posted its earnings results on Monday, October 18th. The oilfield services company reported $0.28 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.28. Halliburton had a net margin of 2.79% and a return on equity of 15.13%. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the prior year, the business posted $0.11 EPS. The firm’s revenue was up 29.7% compared to the same quarter last year. Equities research analysts forecast that Halliburton will post 1.07 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 22nd. Investors of record on Thursday, December 9th were issued a $0.045 dividend. The ex-dividend date was Wednesday, December 8th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.63%. Halliburton’s dividend payout ratio is presently 40.91%.

Several brokerages recently weighed in on HAL. Royal Bank of Canada boosted their price objective on shares of Halliburton from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 20th. They noted that the move was a valuation call. Citigroup boosted their price objective on shares of Halliburton from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, October 20th. TheStreet raised shares of Halliburton from a “d+” rating to a “c-” rating in a research note on Friday, October 15th. JPMorgan Chase & Co. raised shares of Halliburton from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $30.00 to $32.00 in a research note on Thursday. Finally, Barclays boosted their price objective on shares of Halliburton from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 20th. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $26.09.

About Halliburton

Halliburton Co engages in the provision of services and products to the energy industry related to the exploration, development and production of oil and natural gas. It operates through the following segments: Completion and Production and Drilling and Evaluation. The Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift and completion services.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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