Halliburton (NYSE:HAL) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its position in Halliburton (NYSE:HAL) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,345 shares of the oilfield services company’s stock after selling 4,650 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Halliburton were worth $1,927,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of HAL. Geode Capital Management LLC boosted its holdings in Halliburton by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 20,630,361 shares of the oilfield services company’s stock valued at $597,234,000 after acquiring an additional 172,505 shares during the period. Pacer Advisors Inc. lifted its position in shares of Halliburton by 23.1% during the third quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock worth $487,522,000 after purchasing an additional 3,150,986 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Halliburton by 20.0% in the second 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 during the period. Bank of New York Mellon Corp grew its holdings in shares of Halliburton by 1.2% in 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 purchasing an additional 83,894 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Halliburton by 2.1% during the 3rd 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 worth $166,815,000 after buying an additional 115,504 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

HAL has been the subject of several recent research reports. BMO Capital Markets decreased their price target on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday, October 10th. Royal Bank of Canada lowered Halliburton from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $44.00 to $37.00 in a report on Friday, September 13th. Dbs Bank assumed coverage on Halliburton in a research note on Wednesday, September 18th. They set a “buy” rating and a $45.00 target price for the company. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of Halliburton in a research report on Friday, November 8th. Finally, The Goldman Sachs Group lowered their price objective on Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Halliburton currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.58.

Halliburton Stock Performance

Shares of HAL stock opened at $27.89 on Tuesday. The stock’s 50-day moving average is $29.69 and its two-hundred day moving average is $31.22. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21. Halliburton has a 1 year low of $27.26 and a 1 year high of $41.56. The firm has a market cap of $24.50 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 3.61 and a beta of 1.90.

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. Analysts predict that Halliburton will post 3 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 is Wednesday, December 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.44%. 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.