Pacer Advisors Inc. Purchases 13,552,927 Shares of Halliburton (NYSE:HAL)

Pacer Advisors Inc. boosted its holdings in shares of Halliburton (NYSE:HAL) by 17,317.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,631,188 shares of the oilfield services company’s stock after acquiring an additional 13,552,927 shares during the quarter. Halliburton makes up approximately 1.0% of Pacer Advisors Inc.’s portfolio, making the stock its 16th largest holding. Pacer Advisors Inc. owned 1.54% of Halliburton worth $460,462,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. 9258 Wealth Management LLC lifted its position in shares of Halliburton by 14.0% in the fourth quarter. 9258 Wealth Management LLC now owns 30,879 shares of the oilfield services company’s stock worth $1,116,000 after buying an additional 3,803 shares during the last quarter. Brown Advisory Inc. lifted its holdings in Halliburton by 3.6% in the 4th quarter. Brown Advisory Inc. now owns 22,736 shares of the oilfield services company’s stock worth $822,000 after purchasing an additional 780 shares during the last quarter. Trexquant Investment LP boosted its position in Halliburton by 312.6% during the fourth quarter. Trexquant Investment LP now owns 36,231 shares of the oilfield services company’s stock worth $1,310,000 after purchasing an additional 27,449 shares during the period. Quest Partners LLC acquired a new position in Halliburton during the fourth quarter valued at approximately $448,000. Finally, Assetmark Inc. raised its position in shares of Halliburton by 286.2% in the fourth quarter. Assetmark Inc. now owns 1,201 shares of the oilfield services company’s stock valued at $43,000 after purchasing an additional 890 shares during the period. Institutional investors own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

HAL has been the subject of several recent analyst reports. StockNews.com downgraded shares of Halliburton from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. Jefferies Financial Group decreased their price target on shares of Halliburton from $50.00 to $47.00 and set a “buy” rating for the company in a report on Monday, July 29th. TD Cowen dropped 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. Benchmark restated a “buy” rating and set a $42.00 target price on shares of Halliburton in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. lowered their target price on Halliburton from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and an average target price of $43.17.

Insider Buying and Selling at Halliburton

In other news, EVP Van H. Beckwith sold 10,000 shares of the firm’s 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 completion of the sale, the executive vice president now owns 273,908 shares of the company’s stock, valued at $10,066,119. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.61% of the company’s stock.

Halliburton Trading Down 0.2 %

HAL stock opened at $29.47 on Friday. Halliburton has a 1-year low of $27.52 and a 1-year high of $43.85. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average is $31.48 and its 200-day moving average is $34.84. The firm has a market cap of $26.09 billion, a P/E ratio of 10.20, a P/E/G ratio of 0.95 and a beta of 1.89.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $5.83 billion for 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 revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 earnings per share. Equities analysts anticipate that Halliburton will post 3.14 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.31%. The ex-dividend date is Wednesday, September 4th. Halliburton’s dividend payout ratio is currently 23.53%.

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.