Halliburton (NYSE:HAL) Shares Sold by Raymond James & Associates

Raymond James & Associates lowered its position in Halliburton (NYSE:HAL) by 66.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,408,387 shares of the oilfield services company’s stock after selling 2,734,044 shares during the quarter. Raymond James & Associates’ holdings in Halliburton were worth $40,914,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Country Trust Bank acquired a new position in shares of Halliburton in the 3rd quarter valued at about $36,000. Bruce G. Allen Investments LLC raised its holdings in Halliburton by 274.9% in the second quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock valued at $38,000 after buying an additional 822 shares during the period. ORG Wealth Partners LLC acquired a new position in Halliburton during the third quarter valued at approximately $44,000. Crewe Advisors LLC acquired a new position in Halliburton during the first quarter valued at approximately $46,000. Finally, Beacon Capital Management LLC grew its stake in Halliburton by 28.8% during the first quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock worth $54,000 after buying an additional 309 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Trading Down 0.1 %

NYSE HAL opened at $28.24 on Wednesday. The firm has a market capitalization of $25.00 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 1.04 and a beta of 1.88. Halliburton has a one year low of $27.52 and a one year high of $42.15. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13. The company has a 50-day simple moving average of $29.88 and a 200-day simple moving average of $33.47.

Halliburton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Wednesday, September 4th. Halliburton’s payout ratio is 23.53%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Citigroup decreased their target price on Halliburton from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, June 28th. TD Cowen dropped their target price on Halliburton from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. StockNews.com cut Halliburton from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. Finally, Barclays dropped their price objective on shares of Halliburton from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and an average target price of $41.74.

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.