Meyer Handelman Co. Sells 7,850 Shares of Halliburton (NYSE:HAL)

Meyer Handelman Co. reduced its holdings in Halliburton (NYSE:HAL) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 258,699 shares of the oilfield services company’s stock after selling 7,850 shares during the period. Meyer Handelman Co.’s holdings in Halliburton were worth $7,515,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Rise Advisors LLC acquired a new stake in shares of Halliburton during the 1st quarter worth about $26,000. Bruce G. Allen Investments LLC lifted its position in Halliburton by 274.9% during 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 during the period. Crewe Advisors LLC bought a new position in Halliburton in the first quarter valued at approximately $46,000. Country Trust Bank bought a new stake in shares of Halliburton during the 3rd quarter worth $36,000. Finally, Beacon Capital Management LLC boosted its stake in shares of Halliburton by 28.8% in the 1st quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock valued at $54,000 after purchasing an additional 309 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Halliburton

In other news, EVP Van H. Beckwith sold 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total value of $367,500.00. Following the transaction, the executive vice president now owns 273,908 shares of the company’s stock, valued at approximately $10,066,119. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group cut their price target on Halliburton from $41.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. TD Cowen cut their price target on shares of Halliburton from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Barclays lowered their target price on Halliburton from $54.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Benchmark reissued a “buy” rating and issued a $42.00 price target on shares of Halliburton in a research note on Monday, July 22nd. Finally, Jefferies Financial Group reduced their target price on Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Four equities research 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 target price of $41.89.

Halliburton Price Performance

HAL stock opened at $30.83 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13. The firm has a market capitalization of $27.21 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 1.04 and a beta of 1.88. The firm has a 50 day moving average price of $30.17 and a 200-day moving average price of $34.08. Halliburton has a 52-week low of $27.52 and a 52-week high of $43.85.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $5.83 billion for the quarter, compared to the consensus estimate of $5.95 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. Equities research analysts forecast that Halliburton will post 3.13 EPS for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.68 annualized dividend and a yield of 2.21%. Halliburton’s payout ratio is presently 22.59%.

Halliburton Company 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.