SeaCrest Wealth Management LLC Cuts Position in Halliburton (NYSE:HAL)

SeaCrest Wealth Management LLC cut its holdings in Halliburton (NYSE:HAL) by 19.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,007 shares of the oilfield services company’s stock after selling 2,732 shares during the period. SeaCrest Wealth Management LLC’s holdings in Halliburton were worth $320,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Foster Victor Wealth Advisors LLC grew its position in Halliburton by 15.4% during the third quarter. Foster Victor Wealth Advisors LLC now owns 455,895 shares of the oilfield services company’s stock valued at $13,841,000 after buying an additional 60,712 shares during the period. Washington Capital Management Inc. grew its position in shares of Halliburton by 16.2% during the 3rd quarter. Washington Capital Management Inc. now owns 47,070 shares of the oilfield services company’s stock valued at $1,367,000 after acquiring an additional 6,550 shares during the period. Creative Planning increased its stake in shares of Halliburton by 11.9% during the 3rd quarter. Creative Planning now owns 173,555 shares of the oilfield services company’s stock worth $5,042,000 after purchasing an additional 18,396 shares during the last quarter. Wesbanco Bank Inc. raised its holdings in shares of Halliburton by 20.0% in the 3rd quarter. Wesbanco Bank Inc. now owns 186,000 shares of the oilfield services company’s stock worth $5,403,000 after purchasing an additional 31,052 shares during the period. Finally, Wedge Capital Management L L P NC lifted its stake in Halliburton by 0.3% in the third quarter. Wedge Capital Management L L P NC now owns 716,360 shares of the oilfield services company’s stock valued at $20,810,000 after purchasing an additional 2,276 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Price Performance

Shares of NYSE:HAL opened at $28.34 on Friday. Halliburton has a one year low of $27.52 and a one year high of $43.83. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 1.54. The firm has a market capitalization of $25.09 billion, a price-to-earnings ratio of 9.81, a PEG ratio of 1.04 and a beta of 1.88. The company’s fifty day moving average price is $30.00 and its 200-day moving average price is $33.74.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The business had revenue of $5.83 billion for the quarter, compared to the consensus estimate of $5.95 billion. During the same quarter last year, the business posted $0.77 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts anticipate that Halliburton will post 3.13 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were given a $0.17 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.40%. Halliburton’s payout ratio is 23.53%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HAL. Morgan Stanley decreased their target price on Halliburton from $45.00 to $35.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Stifel Nicolaus lowered their price objective on Halliburton from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Benchmark reiterated a “buy” rating and set a $42.00 target price on shares of Halliburton in a research report on Monday, July 22nd. Susquehanna lowered their price target on shares of Halliburton from $46.00 to $42.00 and set a “positive” rating on the stock in a research report on Friday, October 11th. Finally, Barclays cut their price objective on shares of Halliburton from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday. 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.74.

Halliburton 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.