Jacobi Capital Management LLC Trims Position in Halliburton (NYSE:HAL)

Jacobi Capital Management LLC decreased its holdings in Halliburton (NYSE:HAL) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,813 shares of the oilfield services company’s stock after selling 597 shares during the quarter. Jacobi Capital Management LLC’s holdings in Halliburton were worth $663,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in HAL. Farmers & Merchants Investments Inc. lifted its position in shares of Halliburton by 27.2% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,385 shares of the oilfield services company’s stock worth $50,000 after purchasing an additional 296 shares during the period. Massachusetts Wealth Management boosted its position in Halliburton by 1.7% during the 1st quarter. Massachusetts Wealth Management now owns 18,325 shares of the oilfield services company’s stock valued at $722,000 after acquiring an additional 300 shares in the last quarter. GPS Wealth Strategies Group LLC grew its holdings in shares of Halliburton by 16.2% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 2,363 shares of the oilfield services company’s stock worth $85,000 after acquiring an additional 329 shares during the period. IVC Wealth Advisors LLC grew its holdings in shares of Halliburton by 3.8% during the 1st quarter. IVC Wealth Advisors LLC now owns 9,503 shares of the oilfield services company’s stock worth $375,000 after acquiring an additional 344 shares during the period. Finally, Financial Partners Group LLC raised its position in shares of Halliburton by 2.4% in the 4th quarter. Financial Partners Group LLC now owns 15,351 shares of the oilfield services company’s stock worth $555,000 after acquiring an additional 356 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Halliburton Stock Performance

HAL traded down $1.01 during mid-day trading on Monday, reaching $33.39. 13,835,533 shares of the company traded hands, compared to its average volume of 7,487,808. The company’s fifty day moving average price is $34.85 and its 200-day moving average price is $36.12. The stock has a market capitalization of $29.56 billion, a P/E ratio of 11.66, a P/E/G ratio of 0.96 and a beta of 1.93. The company has a quick ratio of 1.52, a current ratio of 2.12 and a debt-to-equity ratio of 0.79. Halliburton has a 52-week low of $32.60 and a 52-week high of $43.85.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.95 billion. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. Halliburton’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share. On average, sell-side analysts expect that Halliburton will post 3.35 EPS for the current year.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Wednesday, June 5th. Halliburton’s dividend payout ratio (DPR) is presently 23.53%.

Insider Buying and Selling

In other Halliburton news, SVP Jill D. Sharp sold 3,346 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $37.00, for a total transaction of $123,802.00. Following the completion of the sale, the senior vice president now directly owns 40,185 shares of the company’s stock, valued at $1,486,845. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Van H. Beckwith sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total value of $369,200.00. Following the completion of the sale, the executive vice president now directly owns 283,908 shares of the company’s stock, valued at approximately $10,481,883.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jill D. Sharp sold 3,346 shares of Halliburton stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $37.00, for a total transaction of $123,802.00. Following the transaction, the senior vice president now directly owns 40,185 shares in the company, valued at approximately $1,486,845. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,287 shares of company stock valued at $2,298,204. 0.61% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on HAL. Wells Fargo & Company reduced their price target on Halliburton from $50.00 to $49.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Susquehanna decreased their price target on shares of Halliburton from $49.00 to $46.00 and set a “positive” rating for the company in a research note on Monday. Citigroup dropped 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. The Goldman Sachs Group raised their target price on shares of Halliburton from $46.00 to $48.00 in a research note on Tuesday, April 23rd. Finally, Benchmark reissued a “buy” rating and issued a $42.00 price target on shares of Halliburton in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $45.88.

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.