Frank Rimerman Advisors LLC Purchases New Position in Halliburton (NYSE:HAL)

Frank Rimerman Advisors LLC acquired a new position in shares of Halliburton (NYSE:HAL) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,673 shares of the oilfield services company’s stock, valued at approximately $597,000.

Other institutional investors also recently made changes to their positions in the company. Capital World Investors lifted its holdings in Halliburton by 0.3% during the 1st quarter. Capital World Investors now owns 121,928,734 shares of the oilfield services company’s stock worth $4,806,431,000 after purchasing an additional 377,500 shares during the last quarter. Vanguard Group Inc. increased its position in Halliburton by 2.7% during the 1st 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 period. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 worth $2,408,171,000 after buying an additional 19,237,784 shares in the last quarter. Sanders Capital LLC boosted its position in shares of Halliburton by 3.4% in the fourth quarter. Sanders Capital LLC now owns 23,538,783 shares of the oilfield services company’s stock valued at $850,927,000 after acquiring an additional 782,093 shares during the period. Finally, Pacer Advisors Inc. grew its stake in shares of Halliburton by 17,317.6% in the second quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock valued at $460,462,000 after acquiring an additional 13,552,927 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Evercore ISI dropped their price objective on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. StockNews.com downgraded Halliburton from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Benchmark reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Halliburton in a report on Monday, July 22nd. The Goldman Sachs Group reduced their target price on Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Johnson Rice raised Halliburton to a “moderate buy” rating in a research note on Friday, July 19th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $43.17.

Halliburton Stock Performance

Shares of Halliburton stock opened at $29.96 on Tuesday. The stock has a market cap of $26.52 billion, a price-to-earnings ratio of 10.37, a P/E/G ratio of 0.95 and a beta of 1.89. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. Halliburton has a twelve month low of $27.52 and a twelve month high of $43.85. The company’s fifty day moving average is $31.38 and its 200 day moving average is $34.79.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.95 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 earnings per share. Sell-side analysts forecast that Halliburton will post 3.14 EPS for the current year.

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Wednesday, September 4th. Halliburton’s dividend payout ratio is currently 23.53%.

Insider Transactions at Halliburton

In related news, EVP Van H. Beckwith sold 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total value of $367,500.00. Following the transaction, the executive vice president now owns 273,908 shares in the company, valued at $10,066,119. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.61% of the stock is currently owned by corporate insiders.

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.