Sequoia Financial Advisors LLC Raises Stock Holdings in Halliburton (NYSE:HAL)

Sequoia Financial Advisors LLC grew its stake in shares of Halliburton (NYSE:HAL) by 4.8% during the third quarter, Holdings Channel reports. The institutional investor owned 14,518 shares of the oilfield services company’s stock after buying an additional 667 shares during the period. Sequoia Financial Advisors LLC’s holdings in Halliburton were worth $422,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its position in shares of Halliburton by 15.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 69,658 shares of the oilfield services company’s stock worth $2,746,000 after purchasing an additional 9,181 shares during the period. Woodmont Investment Counsel LLC purchased a new stake in Halliburton in the 1st quarter worth $201,000. SeaCrest Wealth Management LLC raised its holdings in Halliburton by 30.5% during the first quarter. SeaCrest Wealth Management LLC now owns 9,604 shares of the oilfield services company’s stock valued at $379,000 after acquiring an additional 2,247 shares during the period. Hedeker Wealth LLC lifted its position in shares of Halliburton by 9.5% in the first quarter. Hedeker Wealth LLC now owns 84,614 shares of the oilfield services company’s stock valued at $3,335,000 after acquiring an additional 7,355 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV boosted its stake in shares of Halliburton by 2.4% in the first quarter. Azzad Asset Management Inc. ADV now owns 82,528 shares of the oilfield services company’s stock worth $3,253,000 after acquiring an additional 1,917 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Halliburton Trading Up 1.4 %

HAL stock opened at $28.25 on Monday. Halliburton has a twelve month low of $27.51 and a twelve month high of $41.56. The stock has a market capitalization of $24.94 billion, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 1.86 and a beta of 1.88. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. The firm’s fifty day simple moving average is $29.69 and its two-hundred day simple moving average is $33.19.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were issued a dividend of $0.17 per share. The ex-dividend date was Wednesday, September 4th. This represents a $0.68 annualized dividend and a yield of 2.41%. Halliburton’s payout ratio is 22.59%.

Analysts Set New Price Targets

Several brokerages recently issued reports on HAL. Stifel Nicolaus decreased their target price on Halliburton from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. StockNews.com cut shares of Halliburton from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Evercore ISI dropped their target price on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. BMO Capital Markets reduced their price target on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday, October 10th. Finally, Dbs Bank started coverage on shares of Halliburton in a research note on Wednesday, September 18th. They issued a “buy” rating and a $45.00 price target on the stock. Four 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.74.

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.