Metropolitan Life Insurance Co NY cut its holdings in Halliburton (NYSE:HAL) by 24.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,589 shares of the oilfield services company’s stock after selling 42,631 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Halliburton were worth $2,499,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in HAL. California Public Employees Retirement System raised its position in shares of Halliburton by 20.2% during the 3rd quarter. California Public Employees Retirement System now owns 1,924,328 shares of the oilfield services company’s stock worth $36,274,000 after acquiring an additional 322,788 shares in the last quarter. Mackay Shields LLC increased its stake in Halliburton by 28.0% in the third quarter. Mackay Shields LLC now owns 177,877 shares of the oilfield services company’s stock valued at $3,352,000 after purchasing an additional 38,912 shares during the last quarter. Energy Opportunities Capital Management LLC raised its holdings in Halliburton by 17.9% during the second quarter. Energy Opportunities Capital Management LLC now owns 107,931 shares of the oilfield services company’s stock worth $2,454,000 after purchasing an additional 16,354 shares in the last quarter. 361 Capital LLC purchased a new stake in shares of Halliburton during the 2nd quarter worth approximately $702,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Halliburton by 28.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,079,159 shares of the oilfield services company’s stock worth $24,540,000 after buying an additional 240,240 shares during the last quarter. 77.84% of the stock is owned by institutional investors.

In related news, Director William E. Albrecht acquired 8,000 shares of Halliburton stock in a transaction on Thursday, September 12th. The stock was purchased at an average cost of $19.35 per share, with a total value of $154,800.00. Following the purchase, the director now directly owns 16,000 shares in the company, valued at $309,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

Several brokerages have recently issued reports on HAL. Morgan Stanley lowered their target price on shares of Halliburton from $36.00 to $30.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. ValuEngine upgraded shares of Halliburton from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Argus cut shares of Halliburton from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Barclays downgraded shares of Halliburton from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $31.00 to $23.00 in a research note on Monday, September 16th. Finally, Stifel Nicolaus dropped their price objective on Halliburton from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $30.61.

Shares of Halliburton stock opened at $21.29 on Tuesday. Halliburton has a 1 year low of $16.97 and a 1 year high of $33.11. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.67 and a current ratio of 2.39. The company has a market capitalization of $18.43 billion, a P/E ratio of 11.21, a PEG ratio of 3.94 and a beta of 1.49. The company’s fifty day moving average is $20.28 and its two-hundred day moving average is $20.92.

Halliburton (NYSE:HAL) last announced its earnings results on Monday, October 21st. The oilfield services company reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates of $0.34. Halliburton had a net margin of 5.12% and a return on equity of 12.03%. The business had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same period in the prior year, the company earned $0.50 earnings per share. The business’s revenue was down 10.1% compared to the same quarter last year. As a group, equities analysts expect that Halliburton will post 1.22 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Thursday, December 5th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Wednesday, December 4th. Halliburton’s dividend payout ratio (DPR) is presently 37.89%.

Halliburton Profile

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.

Further Reading: What impact do institutional investors have on markets?

Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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