Dynamic Technology Lab Private Ltd Reduces Stock Holdings in Halliburton (NYSE:HAL)

Dynamic Technology Lab Private Ltd reduced its position in Halliburton (NYSE:HAL) by 8.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,544 shares of the oilfield services company’s stock after selling 3,694 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Halliburton were worth $1,120,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its position in Halliburton by 17,317.6% in the 2nd quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock valued at $460,462,000 after buying an additional 13,552,927 shares during the period. LSV Asset Management boosted its holdings in shares of Halliburton by 24,954.1% in the 2nd quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock valued at $92,250,000 after buying an additional 2,720,000 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in Halliburton during the third quarter valued at approximately $55,132,000. Dimensional Fund Advisors LP boosted its position in shares of Halliburton by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock worth $340,752,000 after purchasing an additional 1,681,620 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Halliburton by 22.0% in the third quarter. Thrivent Financial for Lutherans now owns 5,520,383 shares of the oilfield services company’s stock worth $160,367,000 after acquiring an additional 995,649 shares in the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Halliburton Price Performance

HAL opened at $31.81 on Wednesday. The company has a current ratio of 2.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.74. The firm has a market cap of $27.95 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 3.93 and a beta of 1.89. The stock’s 50-day moving average price is $29.57 and its 200 day moving average price is $31.89. Halliburton has a 12-month low of $27.26 and a 12-month high of $41.56.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.02). The company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 earnings per share. As a group, sell-side analysts expect that Halliburton will post 3.01 earnings per share for the current year.

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, December 4th. Halliburton’s dividend payout ratio is presently 23.69%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HAL. Dbs Bank started coverage on shares of Halliburton in a report on Wednesday, September 18th. They set a “buy” rating and a $45.00 price objective on the stock. Jefferies Financial Group cut their target price on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Royal Bank of Canada cut Halliburton from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $44.00 to $37.00 in a report on Friday, September 13th. Barclays reduced their price target on shares of Halliburton from $47.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Finally, The Goldman Sachs Group dropped their target price on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.74.

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.