Stablepoint Partners LLC Sells 1,737 Shares of Halliburton (NYSE:HAL)

Stablepoint Partners LLC cut its stake in Halliburton (NYSE:HAL) by 6.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,796 shares of the oilfield services company’s stock after selling 1,737 shares during the period. Stablepoint Partners LLC’s holdings in Halliburton were worth $778,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of HAL. Wellington Management Group LLP lifted its stake in Halliburton by 18.3% in the fourth quarter. Wellington Management Group LLP now owns 6,217,704 shares of the oilfield services company’s stock valued at $224,770,000 after buying an additional 962,547 shares during the period. ICA Group Wealth Management LLC bought a new position in Halliburton during the fourth quarter worth $148,000. Quadrature Capital Ltd raised its holdings in shares of Halliburton by 580.4% during the fourth quarter. Quadrature Capital Ltd now owns 83,215 shares of the oilfield services company’s stock valued at $3,008,000 after purchasing an additional 70,985 shares during the period. HighPoint Advisor Group LLC bought a new position in shares of Halliburton during the 4th quarter worth about $261,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of Halliburton in the 4th quarter valued at about $1,039,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Van H. Beckwith sold 10,000 shares of Halliburton stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $36.75, for a total value of $367,500.00. Following the completion of the sale, the executive vice president now owns 273,908 shares of the company’s stock, valued at $10,066,119. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

HAL has been the subject of several research reports. The Goldman Sachs Group reduced their price target on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. UBS Group lowered their price objective on Halliburton from $41.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Bank of America decreased their price target on Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday. Royal Bank of Canada cut Halliburton from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $44.00 to $37.00 in a research note on Friday, September 13th. Finally, Wells Fargo & Company cut their price target on shares of Halliburton from $46.00 to $39.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. 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. Based on data from MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and an average target price of $41.79.

Halliburton Trading Down 0.8 %

NYSE HAL opened at $30.58 on Tuesday. The firm has a market cap of $27.07 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 1.04 and a beta of 1.88. Halliburton has a 1-year low of $27.52 and a 1-year high of $43.85. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average of $30.16 and a 200-day moving average of $33.96.

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

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were issued 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 2.22%. Halliburton’s payout ratio is 23.53%.

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.