Synovus Financial Corp Sells 101,967 Shares of Halliburton Company $HAL

Synovus Financial Corp decreased its position in Halliburton Company (NYSE:HAL) by 82.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,327 shares of the oilfield services company’s stock after selling 101,967 shares during the period. Synovus Financial Corp’s holdings in Halliburton were worth $525,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in shares of Halliburton by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,929,285 shares of the oilfield services company’s stock worth $145,860,000 after purchasing an additional 96,394 shares during the last quarter. Tejara Capital Ltd boosted its holdings in Halliburton by 98.8% during the third quarter. Tejara Capital Ltd now owns 134,365 shares of the oilfield services company’s stock worth $3,305,000 after buying an additional 66,765 shares during the last quarter. Ritholtz Wealth Management acquired a new position in shares of Halliburton during the 3rd quarter worth about $1,775,000. New York State Common Retirement Fund increased its stake in shares of Halliburton by 12.8% in the 3rd quarter. New York State Common Retirement Fund now owns 1,645,526 shares of the oilfield services company’s stock valued at $40,480,000 after acquiring an additional 186,105 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. acquired a new stake in shares of Halliburton in the 3rd quarter valued at approximately $1,010,000. 85.23% of the stock is owned by institutional investors.

Halliburton Stock Performance

HAL opened at $35.23 on Tuesday. The company has a market capitalization of $29.51 billion, a price-to-earnings ratio of 23.33, a P/E/G ratio of 2.09 and a beta of 0.77. The business’s 50-day moving average price is $31.96 and its two-hundred day moving average price is $27.16. Halliburton Company has a 1 year low of $18.72 and a 1 year high of $35.85. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.04 and a quick ratio of 1.51.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Wednesday, January 21st. The oilfield services company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.14. Halliburton had a return on equity of 19.77% and a net margin of 5.78%.The company had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the prior year, the firm earned $0.73 earnings per share. Halliburton’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts expect that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, March 4th. Halliburton’s payout ratio is currently 45.03%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on HAL shares. Argus lifted their price target on shares of Halliburton from $31.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Halliburton in a report on Monday, December 29th. BMO Capital Markets increased their price target on Halliburton from $36.00 to $39.00 and gave the stock a “market perform” rating in a report on Thursday, January 22nd. Wall Street Zen raised Halliburton from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 14th. Finally, Rothschild & Co Redburn lifted their price objective on Halliburton from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Halliburton currently has a consensus rating of “Moderate Buy” and an average price target of $35.19.

Insider Buying and Selling at Halliburton

In related news, CEO Jeffrey Allen Miller sold 171,200 shares of the firm’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $34.96, for a total value of $5,985,152.00. Following the completion of the transaction, the chief executive officer owned 1,101,243 shares of the company’s stock, valued at approximately $38,499,455.28. This trade represents a 13.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Margaret Katherine Banks sold 2,600 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $34.17, for a total transaction of $88,842.00. Following the sale, the director directly owned 14,043 shares in the company, valued at $479,849.31. This trade represents a 15.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 337,002 shares of company stock worth $11,445,938. Company insiders own 0.61% of the company’s stock.

Halliburton Company Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.