Pzena Investment Management LLC Sells 1,454,780 Shares of Halliburton (NYSE:HAL)

Pzena Investment Management LLC lessened its holdings in Halliburton (NYSE:HALFree Report) by 40.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,113,066 shares of the oilfield services company’s stock after selling 1,454,780 shares during the quarter. Pzena Investment Management LLC owned approximately 0.24% of Halliburton worth $76,387,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Allworth Financial LP raised its position in shares of Halliburton by 145.9% in the 3rd quarter. Allworth Financial LP now owns 3,118 shares of the oilfield services company’s stock valued at $126,000 after acquiring an additional 1,850 shares during the period. Capital Investment Advisory Services LLC acquired a new stake in Halliburton during the 3rd quarter worth approximately $203,000. Principal Financial Group Inc. raised its holdings in Halliburton by 11.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,168,071 shares of the oilfield services company’s stock worth $47,307,000 after buying an additional 117,226 shares during the period. Machina Capital S.A.S. acquired a new stake in Halliburton during the 3rd quarter worth approximately $288,000. Finally, Private Advisor Group LLC raised its holdings in Halliburton by 5.9% during the 3rd quarter. Private Advisor Group LLC now owns 44,446 shares of the oilfield services company’s stock worth $1,800,000 after buying an additional 2,464 shares during the period. Institutional investors own 85.23% of the company’s stock.

Halliburton Price Performance

NYSE HAL traded down $1.25 during trading on Wednesday, hitting $36.38. 5,038,055 shares of the company’s stock were exchanged, compared to its average volume of 6,732,764. 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 company has a market cap of $32.21 billion, a PE ratio of 12.66, a P/E/G ratio of 0.97 and a beta of 2.01. Halliburton has a fifty-two week low of $28.43 and a fifty-two week high of $43.85. The stock’s 50 day moving average price is $38.52 and its two-hundred day moving average price is $36.89.

Halliburton (NYSE:HALGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.02. The company had revenue of $5.80 billion for 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 business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 earnings per share. Research analysts expect that Halliburton will post 3.39 EPS for the current year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 5th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.87%. The ex-dividend date is Wednesday, June 5th. Halliburton’s payout ratio is presently 23.53%.

Insider Activity at Halliburton

In related news, CEO Jeffrey Allen Miller sold 377,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $35.30, for a total value of $13,308,100.00. Following the sale, the chief executive officer now directly owns 759,015 shares in the company, valued at $26,793,229.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the transaction, the chief executive officer now directly owns 759,015 shares in the company, valued at approximately $26,793,229.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Margaret Katherine Banks sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total value of $176,500.00. Following the transaction, the director now owns 9,625 shares in the company, valued at $339,762.50. The disclosure for this sale can be found here. Insiders have sold 434,287 shares of company stock worth $15,415,304 over the last ninety days. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Jefferies Financial Group raised their target price on shares of Halliburton from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Morgan Stanley raised their target price on shares of Halliburton from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. The Goldman Sachs Group raised their target price on shares of Halliburton from $46.00 to $48.00 in a report on Tuesday, April 23rd. StockNews.com downgraded shares of Halliburton from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, Wells Fargo & Company lowered their price objective on shares of Halliburton from $50.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.59.

Get Our Latest Stock Report on Halliburton

About Halliburton

(Free Report)

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.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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