Glenmede Trust Co. NA Sells 491,845 Shares of Halliburton (NYSE:HAL)

Glenmede Trust Co. NA cut its stake in Halliburton (NYSE:HAL) by 90.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,376 shares of the oilfield services company’s stock after selling 491,845 shares during the period. Glenmede Trust Co. NA’s holdings in Halliburton were worth $1,522,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bruce G. Allen Investments LLC increased 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 worth $38,000 after purchasing an additional 822 shares in the last quarter. Country Trust Bank acquired a new stake in shares of Halliburton in the 3rd quarter worth about $36,000. ORG Wealth Partners LLC bought a new position in shares of Halliburton in the third quarter valued at approximately $44,000. Mattson Financial Services LLC bought a new position in Halliburton during the 2nd quarter valued at $54,000. Finally, Venturi Wealth Management LLC lifted its position in shares of Halliburton by 34.2% during the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock valued at $47,000 after purchasing an additional 412 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on HAL shares. UBS Group dropped their price target on Halliburton from $41.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Bank of America dropped their price objective on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Morgan Stanley cut their price objective on shares of Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Susquehanna reduced their target price on Halliburton from $42.00 to $40.00 and set a “positive” rating for the company in a report on Friday, November 8th. Finally, Jefferies Financial Group decreased their price target on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Halliburton has an average rating of “Moderate Buy” and a consensus price target of $40.74.

Halliburton Price Performance

HAL opened at $31.86 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62. Halliburton has a 1 year low of $27.26 and a 1 year high of $41.56. The stock’s 50 day simple moving average is $29.72 and its 200 day simple moving average is $31.77. The firm has a market cap of $27.99 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 3.92 and a beta of 1.89.

Halliburton (NYSE:HAL) last issued its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 earnings per share. As a group, analysts predict that Halliburton will post 3 earnings per share for the current year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Wednesday, December 4th. Halliburton’s dividend payout ratio (DPR) is 23.69%.

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.