Halliburton (NYSE:HAL) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. cut its holdings in Halliburton (NYSE:HAL) by 32.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,758 shares of the oilfield services company’s stock after selling 24,647 shares during the period. Raymond James Trust N.A.’s holdings in Halliburton were worth $1,504,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Country Trust Bank purchased a new position in shares of Halliburton during the 3rd quarter worth $36,000. Bruce G. Allen Investments LLC boosted its stake in Halliburton by 274.9% during the second quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock worth $38,000 after buying an additional 822 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Halliburton during the third quarter valued at about $44,000. Venturi Wealth Management LLC raised its stake in shares of Halliburton by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock valued at $47,000 after acquiring an additional 412 shares during the period. Finally, Beacon Capital Management LLC increased its holdings in Halliburton by 28.8% in the 1st quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock valued at $54,000 after purchasing an additional 309 shares during the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company lowered their price target on Halliburton from $46.00 to $39.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. Benchmark restated a “buy” rating and set a $40.00 target price on shares of Halliburton in a report on Friday, November 8th. UBS Group cut their price target on shares of Halliburton from $41.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Susquehanna lowered their price objective on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Friday, November 8th. Finally, Barclays cut their target price on shares of Halliburton from $47.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Halliburton currently has an average rating of “Moderate Buy” and an average price target of $40.74.

Halliburton Stock Performance

NYSE HAL opened at $31.94 on Friday. The company has a fifty day moving average of $29.45 and a two-hundred day moving average of $32.00. The company has a market capitalization of $28.06 billion, a PE ratio of 11.13, a P/E/G ratio of 3.92 and a beta of 1.89. Halliburton has a 1 year low of $27.26 and a 1 year high of $41.56. 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 (NYSE:HAL) last announced its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the company earned $0.79 earnings per share. As a group, analysts expect that Halliburton will post 3.01 earnings per share for the current year.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.13%. Halliburton’s payout ratio is 23.69%.

About Halliburton

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.