Inspire Investing LLC Sells 26,123 Shares of Halliburton (NYSE:HAL)

Inspire Investing LLC cut its stake in shares of Halliburton (NYSE:HAL) by 77.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,821 shares of the oilfield services company’s stock after selling 26,123 shares during the period. Inspire Investing LLC’s holdings in Halliburton were worth $264,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of HAL. EverSource Wealth Advisors LLC raised its position in Halliburton by 319.0% in the first quarter. EverSource Wealth Advisors LLC now owns 36,956 shares of the oilfield services company’s stock valued at $1,385,000 after purchasing an additional 28,137 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in Halliburton during the 1st quarter worth approximately $1,908,000. GAMMA Investing LLC increased its position in Halliburton by 10.9% in the 1st quarter. GAMMA Investing LLC now owns 8,350 shares of the oilfield services company’s stock valued at $329,000 after acquiring an additional 819 shares during the period. Stephens Inc. AR raised its stake in shares of Halliburton by 622.1% during the fourth quarter. Stephens Inc. AR now owns 66,741 shares of the oilfield services company’s stock valued at $2,413,000 after acquiring an additional 57,499 shares during the last quarter. Finally, Great Valley Advisor Group Inc. lifted its holdings in shares of Halliburton by 21.2% during the second quarter. Great Valley Advisor Group Inc. now owns 97,311 shares of the oilfield services company’s stock worth $3,287,000 after purchasing an additional 17,053 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Barclays lowered their target price on Halliburton from $54.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. TD Cowen cut their price objective on Halliburton from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Evercore ISI decreased their target price on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Morgan Stanley dropped their price target on shares of Halliburton from $45.00 to $35.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Finally, Citigroup reduced their price objective on shares of Halliburton from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.11.

Halliburton Stock Up 0.0 %

Shares of NYSE:HAL opened at $29.96 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13. Halliburton has a 52-week low of $27.52 and a 52-week high of $43.85. The business’s 50 day simple moving average is $31.26 and its two-hundred day simple moving average is $34.75. The firm has a market cap of $26.52 billion, a P/E ratio of 10.37, a PEG ratio of 0.95 and a beta of 1.89.

Halliburton (NYSE:HAL) last issued its earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The company had revenue of $5.83 billion for the quarter, compared to analysts’ expectations of $5.95 billion. During the same period last year, the business earned $0.77 EPS. Halliburton’s quarterly revenue was up .6% compared to the same quarter last year. As a group, research analysts forecast that Halliburton will post 3.14 EPS for the current fiscal year.

Halliburton Dividend Announcement

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

Insider Activity at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $36.75, for a total transaction of $367,500.00. Following the completion of the sale, the executive vice president now directly owns 273,908 shares of the company’s stock, valued at approximately $10,066,119. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is owned by insiders.

Halliburton Company 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.