Van ECK Associates Corp Reduces Stock Position in Halliburton (NYSE:HAL)

Van ECK Associates Corp trimmed its holdings in shares of Halliburton (NYSE:HAL) by 31.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,886,107 shares of the oilfield services company’s stock after selling 1,751,708 shares during the quarter. Van ECK Associates Corp’s holdings in Halliburton were worth $108,073,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in HAL. Price T Rowe Associates Inc. MD raised its position in Halliburton by 46.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock valued at $2,408,171,000 after purchasing an additional 19,237,784 shares during the period. Pacer Advisors Inc. increased its position in shares of Halliburton by 17,317.6% during the 2nd quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock valued at $460,462,000 after purchasing an additional 13,552,927 shares during the last quarter. LSV Asset Management raised its holdings in Halliburton by 24,954.1% during the 2nd quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock valued at $92,250,000 after buying an additional 2,720,000 shares during the period. Vanguard Group Inc. lifted its position in Halliburton by 2.7% in the first quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock worth $3,952,805,000 after buying an additional 2,618,740 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Halliburton by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock worth $340,752,000 after buying an additional 1,681,620 shares during the period. Institutional investors own 85.23% of the company’s stock.

Halliburton Trading Down 0.2 %

Shares of NYSE:HAL opened at $27.68 on Monday. 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 company has a market capitalization of $24.44 billion, a PE ratio of 9.20, a P/E/G ratio of 1.83 and a beta of 1.89. Halliburton has a 12-month low of $27.26 and a 12-month high of $41.56. The business’s fifty day simple moving average is $29.32 and its 200-day simple moving average is $32.78.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were issued a $0.17 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.46%. Halliburton’s dividend payout ratio is presently 22.59%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Benchmark reissued a “buy” rating and issued a $42.00 target price on shares of Halliburton in a research note on Monday, July 22nd. Wells Fargo & Company reduced their price objective on shares of Halliburton from $46.00 to $39.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Stifel Nicolaus dropped their target price on Halliburton from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, October 11th. UBS Group reduced their price target on Halliburton from $41.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Barclays decreased their price target on Halliburton from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $41.74.

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.