Meyer Handelman Co. Sells 700 Shares of Halliburton (NYSE:HAL)

Meyer Handelman Co. lessened its position in Halliburton (NYSE:HALGet Rating) by 0.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 302,449 shares of the oilfield services company’s stock after selling 700 shares during the quarter. Meyer Handelman Co.’s holdings in Halliburton were worth $9,485,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HAL. Norges Bank bought a new stake in shares of Halliburton in the 4th quarter worth about $487,897,000. Capital Research Global Investors purchased a new position in Halliburton in the 1st quarter worth about $677,566,000. BlackRock Inc. increased its stake in Halliburton by 8.1% in the 1st quarter. BlackRock Inc. now owns 72,922,850 shares of the oilfield services company’s stock worth $2,761,589,000 after buying an additional 5,460,366 shares during the period. Van ECK Associates Corp increased its stake in Halliburton by 35.0% in the 1st quarter. Van ECK Associates Corp now owns 14,448,376 shares of the oilfield services company’s stock worth $547,160,000 after buying an additional 3,747,392 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Halliburton by 39.8% in the 1st quarter. Bank of New York Mellon Corp now owns 10,291,720 shares of the oilfield services company’s stock worth $389,745,000 after buying an additional 2,927,975 shares during the period. Institutional investors own 80.60% of the company’s stock.

Halliburton Stock Performance

HAL stock traded down $2.65 during trading on Friday, reaching $24.27. The company had a trading volume of 523,854 shares, compared to its average volume of 8,370,319. The firm has a 50-day simple moving average of $29.05 and a 200-day simple moving average of $33.84. The company has a market cap of $22.01 billion, a price-to-earnings ratio of 15.34 and a beta of 2.11. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.60 and a current ratio of 2.15. Halliburton has a twelve month low of $19.75 and a twelve month high of $43.99.

Halliburton (NYSE:HALGet Rating) last released its earnings results on Tuesday, July 19th. The oilfield services company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.04. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.71 billion. Halliburton had a net margin of 8.19% and a return on equity of 19.91%. Halliburton’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same period last year, the business earned $0.26 EPS. As a group, sell-side analysts expect that Halliburton will post 2.01 earnings per share for the current year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 28th. Investors of record on Wednesday, September 7th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Tuesday, September 6th. Halliburton’s dividend payout ratio (DPR) is presently 30.19%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on HAL shares. Stephens reduced their price target on shares of Halliburton to $32.00 in a research note on Friday, July 22nd. Morgan Stanley reduced their price target on shares of Halliburton from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 13th. Barclays raised their price target on shares of Halliburton from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 8th. The Goldman Sachs Group cut their target price on shares of Halliburton from $46.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, July 13th. Finally, Wells Fargo & Company cut their target price on shares of Halliburton from $42.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 20th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.53.

Halliburton Company Profile

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Halliburton Company provides products and services to the energy industry worldwide. It operates in 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; 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; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.

See Also

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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