55,142 Halliburton Company $HAL Shares Sold by Soltis Investment Advisors LLC

Key Points

• Soltis Investment Advisors cut its Halliburton stake by 83% in the third quarter, selling 55,142 shares and retaining 11,269 shares worth approximately $358,000. Institutional investors and hedge funds collectively own 85.23% of Halliburton.
• Halliburton exceeded quarterly expectations, reporting $0.60 in earnings per share on $5.70 billion in revenue, while revenue increased 1.8% year over year.
• Analysts maintain a generally favorable view, with an overall “Moderate Buy” rating and a consensus price target of $43.86; Halliburton also pays an annualized dividend of $0.68 per share, yielding about 2.0%.

Soltis Investment Advisors LLC cut its stake in Halliburton Company (NYSE:HAL - Free Report) by 83.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,269 shares of the oilfield services company's stock after selling 55,142 shares during the period. Soltis Investment Advisors LLC's holdings in Halliburton were worth $358,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Meeder Asset Management Inc. bought a new stake in shares of Halliburton in the second quarter valued at about $26,000. Kilter Group LLC bought a new position in Halliburton during the second quarter valued at about $26,000. Silvant Capital Management LLC bought a new position in Halliburton during the second quarter valued at about $28,000. Matrix Trust Co bought a new position in Halliburton during the second quarter valued at about $29,000. Finally, Hoey Investments Inc. acquired a new position in Halliburton in the 1st quarter valued at approximately $39,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Jeffrey Slocum sold 52,572 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the completion of the sale, the chief operating officer owned 118,730 shares of the company's stock, valued at approximately $4,166,235.70. This trade represents a 30.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Freedom Capital upgraded Halliburton from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 22nd. Susquehanna lowered their price objective on Halliburton from $45.00 to $42.00 and set a "positive" rating on the stock in a research report on Wednesday, July 8th. Wall Street Zen lowered Halliburton from a "buy" rating to a "hold" rating in a research note on Saturday, October 3rd. Barclays decreased their target price on shares of Halliburton from $53.00 to $51.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 21st. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Halliburton in a research note on Friday, October 2nd. Eighteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Halliburton presently has an average rating of "Moderate Buy" and a consensus target price of $43.86.

Halliburton Stock Performance

Halliburton stock opened at $34.57 on Tuesday. The firm has a market capitalization of $28.59 billion, a P/E ratio of 14.46, a P/E/G ratio of 2.07 and a beta of 0.83. The stock has a fifty day moving average price of $34.25 and a two-hundred day moving average price of $35.76. Halliburton Company has a 52-week low of $24.92 and a 52-week high of $43.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.02 and a quick ratio of 1.48.

Halliburton (NYSE:HAL - Get Free Report) last posted its earnings results on Tuesday, October 20th. The oilfield services company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.58 billion. Halliburton had a net margin of 8.90% and a return on equity of 18.36%. The firm's quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.58 EPS. As a group, analysts anticipate that Halliburton Company will post 2.33 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd were given a $0.17 dividend. The ex-dividend date was Wednesday, September 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. Halliburton's payout ratio is 28.45%.

Halliburton Company Profile

Halliburton Company NYSE: HAL is a global provider of products and services for the energy industry. The company supports the exploration, development, and production of oil and natural gas through technologies and services used throughout the life cycle of a well.

Halliburton operates through two primary business segments: Completion and Production, and Drilling and Evaluation. Its offerings include cementing, stimulation, well completion, production enhancement, drilling services, drilling fluids, well testing, wireline and perforating services, formation evaluation, and project management.

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