Halliburton Company $HAL Stake Reduced by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL cut its stake in Halliburton Company (NYSE:HAL) by 16.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 539,729 shares of the oilfield services company’s stock after selling 102,617 shares during the period. Gamco Investors INC. ET AL’s holdings in Halliburton were worth $13,277,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new position in shares of Halliburton during the third quarter valued at $25,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Halliburton in the 2nd quarter worth about $25,000. Root Financial Partners LLC bought a new stake in Halliburton in the 3rd quarter valued at about $32,000. Rakuten Securities Inc. lifted its position in Halliburton by 547.3% in the 2nd quarter. Rakuten Securities Inc. now owns 1,586 shares of the oilfield services company’s stock valued at $32,000 after purchasing an additional 1,341 shares during the last quarter. Finally, Cape Investment Advisory Inc. boosted its stake in Halliburton by 111.9% during the 2nd quarter. Cape Investment Advisory Inc. now owns 1,704 shares of the oilfield services company’s stock valued at $35,000 after purchasing an additional 900 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Insider Transactions at Halliburton

In other news, EVP Van H. Beckwith sold 54,348 shares of Halliburton stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $34.96, for a total transaction of $1,900,006.08. Following the transaction, the executive vice president directly owned 344,535 shares in the company, valued at approximately $12,044,943.60. This trade represents a 13.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lawrence J. Pope sold 100,000 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $32.25, for a total value of $3,225,000.00. Following the completion of the sale, the executive vice president directly owned 419,800 shares in the company, valued at $13,538,550. This represents a 19.24% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 328,148 shares of company stock valued at $11,199,000. Company insiders own 0.56% of the company’s stock.

Halliburton Stock Down 0.1%

HAL stock opened at $34.11 on Friday. The firm’s 50-day moving average is $33.30 and its two-hundred day moving average is $28.00. The company has a market capitalization of $28.57 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 2.03 and a beta of 0.73. Halliburton Company has a 52 week low of $18.72 and a 52 week high of $37.03. The company has a current ratio of 2.04, a quick ratio of 1.51 and a debt-to-equity ratio of 0.68.

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

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, March 4th. Halliburton’s dividend payout ratio (DPR) is presently 45.03%.

Analysts Set New Price Targets

Several brokerages have commented on HAL. TD Cowen raised their price target on shares of Halliburton from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Jefferies Financial Group reiterated a “buy” rating and set a $39.00 price objective on shares of Halliburton in a research report on Friday, February 6th. Citigroup increased their price objective on Halliburton from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Susquehanna raised their target price on Halliburton from $36.00 to $40.00 and gave the company a “positive” rating in a research report on Thursday, January 22nd. Finally, Barclays lifted their target price on Halliburton from $25.00 to $30.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.38.

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.