Lockheed Martin Investment Management Co. Decreases Holdings in Halliburton Company $HAL

Lockheed Martin Investment Management Co. trimmed its holdings in Halliburton Company (NYSE:HAL) by 6.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,130 shares of the oilfield services company’s stock after selling 3,720 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Halliburton were worth $1,103,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. raised its position in shares of Halliburton by 450.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company’s stock valued at $759,623,000 after buying an additional 24,506,472 shares during the last quarter. Invesco Ltd. raised its position in shares of Halliburton by 7.3% in the first quarter. Invesco Ltd. now owns 10,813,905 shares of the oilfield services company’s stock valued at $274,349,000 after buying an additional 731,105 shares during the last quarter. LSV Asset Management raised its position in shares of Halliburton by 3.3% in the first quarter. LSV Asset Management now owns 6,113,044 shares of the oilfield services company’s stock valued at $155,088,000 after buying an additional 193,022 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Halliburton by 5.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,279,815 shares of the oilfield services company’s stock valued at $133,949,000 after buying an additional 282,492 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Halliburton by 217.4% in the first quarter. AQR Capital Management LLC now owns 4,641,111 shares of the oilfield services company’s stock valued at $116,770,000 after buying an additional 3,178,746 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Stock Performance

Shares of HAL stock opened at $26.95 on Friday. The firm’s 50 day moving average price is $23.55 and its 200-day moving average price is $22.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.43 and a current ratio of 1.95. Halliburton Company has a one year low of $18.72 and a one year high of $32.57. The firm has a market cap of $22.69 billion, a P/E ratio of 17.85 and a beta of 1.02.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Tuesday, October 21st. The oilfield services company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.50 by $0.08. Halliburton had a net margin of 5.91% and a return on equity of 20.12%. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the business posted $0.73 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, equities research analysts predict that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, September 3rd. Halliburton’s dividend payout ratio is currently 45.03%.

Analyst Upgrades and Downgrades

HAL has been the subject of a number of recent research reports. Susquehanna increased their target price on shares of Halliburton from $27.00 to $29.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. Bank of America raised their price objective on shares of Halliburton from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Barclays raised their price objective on shares of Halliburton from $20.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. Wells Fargo & Company cut their price objective on shares of Halliburton from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. Finally, UBS Group raised their price objective on shares of Halliburton from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.40.

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.