Wellington Management Group LLP Sells 2,691,107 Shares of Halliburton (NYSE:HAL)

Wellington Management Group LLP reduced its holdings in Halliburton (NYSE:HAL) by 32.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,728,674 shares of the oilfield services company’s stock after selling 2,691,107 shares during the quarter. Wellington Management Group LLP owned about 0.65% of Halliburton worth $166,418,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings in Halliburton by 23.1% in the third quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock valued at $487,522,000 after acquiring an additional 3,150,986 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Halliburton by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock valued at $340,752,000 after purchasing an additional 1,681,620 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Halliburton by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 7,342,857 shares of the oilfield services company’s stock valued at $248,042,000 after buying an additional 83,894 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Halliburton by 2.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,742,352 shares of the oilfield services company’s stock valued at $166,815,000 after buying an additional 115,504 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in Halliburton by 22.0% in the third quarter. Thrivent Financial for Lutherans now owns 5,520,383 shares of the oilfield services company’s stock worth $160,367,000 after buying an additional 995,649 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on HAL shares. Raymond James reduced their target price on Halliburton from $41.00 to $37.00 and set a “strong-buy” rating on the stock in a report on Friday, November 8th. Morgan Stanley reduced their price target on Halliburton from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Barclays decreased their price objective on Halliburton from $47.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Susquehanna dropped their target price on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Finally, The Goldman Sachs Group decreased their price target on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.74.

Halliburton Trading Down 4.1 %

Shares of NYSE:HAL opened at $28.78 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62. Halliburton has a 1 year low of $27.26 and a 1 year high of $41.56. The company has a market cap of $25.28 billion, a P/E ratio of 10.03, a PEG ratio of 3.78 and a beta of 1.90. The stock’s fifty day moving average price is $29.87 and its 200-day moving average price is $31.53.

Halliburton (NYSE:HAL) last posted its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.02). Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. During the same quarter in the prior year, the company posted $0.79 EPS. Halliburton’s revenue was down 1.8% on a year-over-year basis. Sell-side analysts expect that Halliburton will post 3 earnings per share for the current year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Wednesday, December 4th. Halliburton’s dividend payout ratio (DPR) is presently 23.69%.

Halliburton Company 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.