GAMMA Investing LLC Cuts Position in Halliburton (NYSE:HAL)

GAMMA Investing LLC trimmed its holdings in shares of Halliburton (NYSE:HAL) by 18.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,694 shares of the oilfield services company’s stock after selling 1,927 shares during the period. GAMMA Investing LLC’s holdings in Halliburton were worth $236,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cary Street Partners Asset Management LLC raised its stake in Halliburton by 56.5% during the third quarter. Cary Street Partners Asset Management LLC now owns 157,085 shares of the oilfield services company’s stock valued at $4,563,000 after buying an additional 56,707 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Halliburton by 146.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 842,355 shares of the oilfield services company’s stock worth $28,455,000 after purchasing an additional 500,000 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Halliburton by 105.2% in the 2nd quarter. Mackenzie Financial Corp now owns 186,961 shares of the oilfield services company’s stock worth $6,316,000 after purchasing an additional 95,864 shares in the last quarter. Pacer Advisors Inc. grew its position in Halliburton by 23.1% during the 3rd quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock valued at $487,522,000 after purchasing an additional 3,150,986 shares during the last quarter. Finally, Quest Partners LLC increased its stake in Halliburton by 2,418.9% during the 3rd quarter. Quest Partners LLC now owns 78,387 shares of the oilfield services company’s stock valued at $2,277,000 after purchasing an additional 75,275 shares in the last quarter. 85.23% of the stock is owned by institutional investors.

Halliburton Stock Up 0.1 %

NYSE HAL opened at $27.70 on Wednesday. Halliburton has a 52 week low of $25.51 and a 52 week high of $41.56. The firm has a market capitalization of $24.33 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 3.55 and a beta of 1.91. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. The company has a fifty day moving average of $29.02 and a two-hundred day moving average of $30.43.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts predict that Halliburton will post 3 earnings per share for the current year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, December 4th. This represents a $0.68 annualized dividend and a dividend yield of 2.45%. Halliburton’s dividend payout ratio (DPR) is 23.69%.

Wall Street Analyst Weigh In

HAL has been the topic of a number of recent analyst reports. Bank of America cut their price target on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, October 14th. BMO Capital Markets cut their target price on Halliburton from $40.00 to $38.00 and set a “market perform” rating on the stock in a research note on Thursday, October 10th. UBS Group cut Halliburton from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $36.00 to $34.00 in a research note on Monday, December 9th. Wells Fargo & Company dropped their price objective on Halliburton from $39.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada lowered Halliburton from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $44.00 to $37.00 in a research report on Friday, September 13th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.95.

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.