Pitcairn Co. Sells 1,547 Shares of Halliburton (NYSE:HAL)

Pitcairn Co. cut its position in Halliburton (NYSE:HAL) by 8.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,218 shares of the oilfield services company’s stock after selling 1,547 shares during the quarter. Pitcairn Co.’s holdings in Halliburton were worth $500,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HAL. Cary Street Partners Asset Management LLC raised its stake in shares of Halliburton by 56.5% during the 3rd quarter. Cary Street Partners Asset Management LLC now owns 157,085 shares of the oilfield services company’s stock worth $4,563,000 after acquiring an additional 56,707 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Halliburton by 146.0% during the second quarter. Canada Pension Plan Investment Board now owns 842,355 shares of the oilfield services company’s stock worth $28,455,000 after purchasing an additional 500,000 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Halliburton by 105.2% during the 2nd quarter. Mackenzie Financial Corp now owns 186,961 shares of the oilfield services company’s stock valued at $6,316,000 after purchasing an additional 95,864 shares during the last quarter. Quest Partners LLC boosted its position in shares of Halliburton by 2,418.9% in the 3rd quarter. Quest Partners LLC now owns 78,387 shares of the oilfield services company’s stock worth $2,277,000 after purchasing an additional 75,275 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in Halliburton by 23.1% during the 3rd quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock worth $487,522,000 after buying an additional 3,150,986 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Stock Performance

Shares of NYSE HAL opened at $32.00 on Tuesday. The company has a market capitalization of $28.11 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 3.93 and a beta of 1.89. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21. The company’s fifty day moving average price is $29.52 and its 200 day moving average price is $31.93. Halliburton has a 1 year low of $27.26 and a 1 year high of $41.56.

Halliburton (NYSE:HAL) last posted its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.02). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.83 billion. During the same period in the previous year, the company earned $0.79 earnings per share. The company’s revenue was down 1.8% compared to the same quarter last year. On average, research analysts predict that Halliburton will post 3.01 earnings per share for the current year.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, December 4th. Halliburton’s payout ratio is currently 23.69%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on HAL shares. Bank of America dropped their price target on Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Raymond James decreased their price target on shares of Halliburton from $41.00 to $37.00 and set a “strong-buy” rating for the company in a report on Friday, November 8th. The Goldman Sachs Group dropped their price objective 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. Morgan Stanley reduced their target price on Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Finally, Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of Halliburton in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.74.

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.