Halliburton (NYSE:HAL) Stock Position Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Halliburton (NYSE:HAL) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,342,857 shares of the oilfield services company’s stock after purchasing an additional 83,894 shares during the quarter. Bank of New York Mellon Corp owned about 0.83% of Halliburton worth $248,042,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. lifted its stake in shares of Halliburton by 19.1% in the 4th quarter. Franklin Resources Inc. now owns 1,179,579 shares of the oilfield services company’s stock worth $42,642,000 after acquiring an additional 189,324 shares during the period. EverSource Wealth Advisors LLC lifted its position in Halliburton by 319.0% in the first quarter. EverSource Wealth Advisors LLC now owns 36,956 shares of the oilfield services company’s stock worth $1,385,000 after purchasing an additional 28,137 shares during the period. Mediolanum International Funds Ltd bought a new position in Halliburton during the 1st quarter valued at $1,908,000. GAMMA Investing LLC raised its stake in shares of Halliburton by 10.9% in the 1st quarter. GAMMA Investing LLC now owns 8,350 shares of the oilfield services company’s stock worth $329,000 after buying an additional 819 shares in the last quarter. Finally, Stephens Inc. AR lifted its holdings in shares of Halliburton by 622.1% in the fourth quarter. Stephens Inc. AR now owns 66,741 shares of the oilfield services company’s stock valued at $2,413,000 after buying an additional 57,499 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Stock Performance

HAL stock opened at $31.87 on Tuesday. The firm has a 50 day simple moving average of $33.04 and a 200 day simple moving average of $35.58. Halliburton has a 52 week low of $30.31 and a 52 week high of $43.85. The stock has a market cap of $28.21 billion, a P/E ratio of 11.03, a P/E/G ratio of 1.12 and a beta of 1.93. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13.

Halliburton (NYSE:HAL) last issued its earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The company had revenue of $5.83 billion during the quarter, compared to analyst estimates of $5.95 billion. During the same quarter last year, the business posted $0.77 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. Research analysts anticipate that Halliburton will post 3.18 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Wednesday, September 4th. Halliburton’s dividend payout ratio (DPR) is presently 23.53%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Evercore ISI lowered their target price on Halliburton from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Johnson Rice raised shares of Halliburton to a “moderate buy” rating in a research note on Friday, July 19th. Citigroup cut their target price on shares of Halliburton from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, June 28th. JPMorgan Chase & Co. decreased their price target on shares of Halliburton from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, Bank of America cut their price objective on Halliburton from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Halliburton presently has a consensus rating of “Moderate Buy” and an average target price of $45.35.

Insider Activity

In related news, EVP Van H. Beckwith sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $36.75, for a total value of $367,500.00. Following the transaction, the executive vice president now owns 273,908 shares in the company, valued at $10,066,119. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is owned by corporate insiders.

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.