Synovus Financial Corp Trims Stake in Halliburton (NYSE:HAL)

Synovus Financial Corp lowered its position in Halliburton (NYSE:HAL) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 133,593 shares of the oilfield services company’s stock after selling 5,399 shares during the period. Synovus Financial Corp’s holdings in Halliburton were worth $3,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Cary Street Partners Asset Management LLC lifted 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 during the last quarter. Canada Pension Plan Investment Board lifted 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 during the last quarter. Mackenzie Financial Corp lifted its position in shares of Halliburton by 105.2% during the second quarter. Mackenzie Financial Corp now owns 186,961 shares of the oilfield services company’s stock worth $6,316,000 after purchasing an additional 95,864 shares during the last quarter. Quest Partners LLC grew its holdings in shares of Halliburton by 2,418.9% in the third 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 during the last quarter. Finally, Pacer Advisors Inc. increased its stake in Halliburton by 23.1% in 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 period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on HAL. Raymond James dropped their price objective on Halliburton from $41.00 to $37.00 and set a “strong-buy” rating on the stock in a research note on Friday, November 8th. The Goldman Sachs Group dropped their price target on Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Wells Fargo & Company decreased their price objective on Halliburton from $46.00 to $39.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Dbs Bank assumed coverage on shares of Halliburton in a report on Wednesday, September 18th. They set a “buy” rating and a $45.00 target price on the stock. Finally, BMO Capital Markets cut their target price on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating on the stock in a research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Halliburton currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.58.

Halliburton Trading Down 0.7 %

NYSE HAL opened at $28.68 on Friday. Halliburton has a 1 year low of $27.26 and a 1 year high of $41.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62. The company has a market capitalization of $25.20 billion, a PE ratio of 9.99, a P/E/G ratio of 3.61 and a beta of 1.90. The company has a fifty day moving average of $29.75 and a 200 day moving average of $31.31.

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

Halliburton Dividend Announcement

The company also recently announced 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 2.37%. The ex-dividend date of this dividend is Wednesday, December 4th. Halliburton’s payout ratio is currently 23.69%.

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.