The Manufacturers Life Insurance Company Sells 19,751 Shares of Halliburton (NYSE:HAL)

The Manufacturers Life Insurance Company lowered its position in shares of Halliburton (NYSE:HAL) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 705,492 shares of the oilfield services company’s stock after selling 19,751 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Halliburton were worth $20,495,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. First Horizon Advisors Inc. lifted its position in Halliburton by 2.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 14,027 shares of the oilfield services company’s stock valued at $474,000 after acquiring an additional 295 shares during the period. Guinness Atkinson Asset Management Inc increased its stake in shares of Halliburton by 3.1% during the second quarter. Guinness Atkinson Asset Management Inc now owns 10,847 shares of the oilfield services company’s stock valued at $366,000 after purchasing an additional 330 shares in the last quarter. Moody National Bank Trust Division lifted its holdings in shares of Halliburton by 2.9% during the second quarter. Moody National Bank Trust Division now owns 11,842 shares of the oilfield services company’s stock valued at $400,000 after purchasing an additional 336 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position in shares of Halliburton by 28.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock worth $51,000 after purchasing an additional 393 shares in the last quarter. Finally, Northwest Bank & Trust Co grew its stake in shares of Halliburton by 3.2% in the 3rd quarter. Northwest Bank & Trust Co now owns 12,979 shares of the oilfield services company’s stock worth $377,000 after buying an additional 397 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Halliburton Price Performance

NYSE HAL opened at $31.86 on Friday. The company has a 50-day moving average price of $29.72 and a 200-day moving average price of $31.81. Halliburton has a 52 week low of $27.26 and a 52 week high of $41.56. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $27.99 billion, a P/E ratio of 11.10, a PEG ratio of 3.93 and a beta of 1.89.

Halliburton (NYSE:HAL) last announced its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 earnings per share. Equities research analysts anticipate that Halliburton will post 3.01 earnings per share for the current year.

Halliburton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Wednesday, December 4th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.68 annualized dividend and a yield of 2.13%. Halliburton’s dividend payout ratio (DPR) is presently 23.69%.

Analyst Upgrades and Downgrades

HAL has been the topic of several analyst reports. Wells Fargo & Company dropped their target price on Halliburton from $46.00 to $39.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Stifel Nicolaus cut their price objective on shares of Halliburton from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Jefferies Financial Group decreased their target price on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Susquehanna cut their price target on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Finally, Royal Bank of Canada lowered shares of Halliburton from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $44.00 to $37.00 in a report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Halliburton has an average rating of “Moderate Buy” and a consensus target price of $40.74.

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.