City Center Advisors LLC Acquires Shares of 7,958 Halliburton (NYSE:HAL)

City Center Advisors LLC acquired a new stake in Halliburton (NYSE:HAL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,958 shares of the oilfield services company’s stock, valued at approximately $231,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Rise Advisors LLC purchased a new stake in shares of Halliburton during the first quarter worth about $26,000. Bruce G. Allen Investments LLC increased its stake in shares of Halliburton by 274.9% during the second quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock worth $38,000 after purchasing an additional 822 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Halliburton during the 1st quarter valued at about $46,000. Beacon Capital Management LLC grew its stake in Halliburton by 28.8% during the 1st quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock valued at $54,000 after acquiring an additional 309 shares in the last quarter. Finally, General Partner Inc. purchased a new stake in Halliburton during the 1st quarter valued at about $55,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Insiders Place Their Bets

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total transaction of $367,500.00. Following the sale, the executive vice president now directly owns 273,908 shares in the company, valued at $10,066,119. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is owned by company insiders.

Halliburton Price Performance

Halliburton stock opened at $30.05 on Wednesday. The firm has a market cap of $26.60 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 1.02 and a beta of 1.88. Halliburton has a 52-week low of $27.52 and a 52-week high of $43.85. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average is $30.41 and its two-hundred day moving average is $34.25.

Halliburton (NYSE:HAL) last released 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. The company had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.95 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 EPS. On average, research analysts expect that Halliburton will post 3.14 EPS for the current fiscal year.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.26%. Halliburton’s dividend payout ratio (DPR) is presently 23.53%.

Analysts Set New Price Targets

Several analysts recently issued reports on HAL shares. Citigroup dropped their price objective on shares of Halliburton from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, June 28th. JPMorgan Chase & Co. dropped their price objective on shares of Halliburton from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Wells Fargo & Company dropped their price objective on shares of Halliburton from $46.00 to $39.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Stifel Nicolaus dropped their price objective on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Finally, Johnson Rice upgraded shares of Halliburton to a “moderate buy” rating in a report on Friday, July 19th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.56.

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.