Amalgamated Bank Cuts Stock Holdings in Halliburton (NYSE:HAL)

Amalgamated Bank lessened its stake in Halliburton (NYSE:HAL) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 179,114 shares of the oilfield services company’s stock after selling 7,808 shares during the quarter. Amalgamated Bank’s holdings in Halliburton were worth $6,050,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in HAL. Rise Advisors LLC purchased a new stake in Halliburton during the first quarter valued at about $26,000. Johnson Financial Group Inc. acquired a new position in shares of Halliburton in the 4th quarter valued at about $33,000. Bruce G. Allen Investments LLC lifted its stake in shares of Halliburton by 274.9% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock valued at $38,000 after purchasing an additional 822 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Halliburton by 286.2% during the 4th quarter. Assetmark Inc. now owns 1,201 shares of the oilfield services company’s stock worth $43,000 after purchasing an additional 890 shares during the period. Finally, Crewe Advisors LLC purchased a new position in Halliburton in the first quarter valued at approximately $46,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Stock Performance

Shares of HAL stock opened at $29.47 on Friday. The stock has a market capitalization of $26.09 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 0.95 and a beta of 1.89. Halliburton has a one year low of $27.52 and a one year high of $43.85. The company’s 50-day simple moving average is $31.48 and its 200-day simple moving average is $34.84. 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 (NYSE:HAL) last released its earnings results on Friday, July 19th. The oilfield services company reported $0.80 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 the consensus estimate of $5.95 billion. During the same quarter last year, the business posted $0.77 EPS. Halliburton’s quarterly revenue was up .6% compared to the same quarter last year. Equities analysts anticipate that Halliburton will post 3.14 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.31%. Halliburton’s payout ratio is currently 23.53%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HAL shares. 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 report on Monday, July 22nd. Bank of America lowered their price target on Halliburton from $41.00 to $40.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Barclays reduced their price objective on Halliburton from $54.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. The Goldman Sachs Group lowered their target price on Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, TD Cowen reduced their price target on Halliburton from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Three 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 company’s stock. According to MarketBeat, Halliburton currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

Insider Activity

In related news, EVP Van H. Beckwith sold 10,000 shares of the stock in a transaction dated 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 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 hyperlink. Company insiders own 0.61% of the company’s stock.

About Halliburton

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.