Inspire Investing LLC Sells 26,123 Shares of Halliburton (NYSE:HAL)

Inspire Investing LLC reduced its position in shares of Halliburton (NYSE:HAL) by 77.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,821 shares of the oilfield services company’s stock after selling 26,123 shares during the period. Inspire Investing LLC’s holdings in Halliburton were worth $264,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in shares of Halliburton during the 1st quarter worth approximately $26,000. Johnson Financial Group Inc. purchased a new stake in shares of Halliburton during the fourth quarter valued at approximately $33,000. Bruce G. Allen Investments LLC lifted its holdings 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 acquiring an additional 822 shares during the period. Assetmark Inc. boosted its position in Halliburton by 286.2% in the fourth quarter. Assetmark Inc. now owns 1,201 shares of the oilfield services company’s stock worth $43,000 after purchasing an additional 890 shares during the last quarter. Finally, Crewe Advisors LLC bought a new position in Halliburton in the 1st quarter valued at $46,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Halliburton Trading Up 0.0 %

Shares of Halliburton stock opened at $29.96 on Wednesday. The company’s 50-day moving average price is $31.26 and its 200-day moving average price is $34.75. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. Halliburton has a 12-month low of $27.52 and a 12-month high of $43.85. The company has a market cap of $26.52 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 0.95 and a beta of 1.89.

Halliburton (NYSE:HAL) last posted its earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $5.83 billion for the quarter, compared to analysts’ expectations of $5.95 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. On average, equities analysts expect that Halliburton will post 3.14 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Wednesday, September 4th. Halliburton’s payout ratio is 23.53%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Benchmark reissued a “buy” rating and issued a $42.00 price target on shares of Halliburton in a report on Monday, July 22nd. Royal Bank of Canada cut shares of Halliburton from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $44.00 to $37.00 in a research note on Friday, September 13th. UBS Group lowered their price target on shares of Halliburton from $41.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. reduced their price objective on Halliburton from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Finally, Barclays lowered their target price on Halliburton from $54.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Halliburton presently has an average rating of “Moderate Buy” and a consensus price target of $43.11.

Insiders Place Their Bets

In other news, EVP Van H. Beckwith sold 10,000 shares of Halliburton stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $36.75, for a total transaction of $367,500.00. Following the completion of the sale, the executive vice president now owns 273,908 shares in the company, valued at approximately $10,066,119. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

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.