Bank of New York Mellon Corp Sells 601,895 Shares of Halliburton Company (NYSE:HAL)

Bank of New York Mellon Corp trimmed its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 8.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,282,763 shares of the oilfield services company's stock after selling 601,895 shares during the period. Bank of New York Mellon Corp owned about 0.73% of Halliburton worth $159,394,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its position in Halliburton by 64.9% during the fourth quarter. Jones Financial Companies Lllp now owns 24,659 shares of the oilfield services company's stock worth $670,000 after acquiring an additional 9,709 shares in the last quarter. Assetmark Inc. raised its position in Halliburton by 15.2% during the fourth quarter. Assetmark Inc. now owns 63,556 shares of the oilfield services company's stock worth $1,728,000 after acquiring an additional 8,392 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Halliburton during the fourth quarter worth $4,084,000. Candriam S.C.A. grew its holdings in Halliburton by 12.5% during the fourth quarter. Candriam S.C.A. now owns 69,780 shares of the oilfield services company's stock worth $1,897,000 after purchasing an additional 7,726 shares during the period. Finally, Callan Family Office LLC bought a new position in Halliburton during the fourth quarter worth about $338,000. 85.23% of the stock is currently owned by institutional investors.

Halliburton Stock Performance

Shares of NYSE HAL traded up $0.90 during mid-day trading on Friday, reaching $23.06. 20,170,398 shares of the company's stock were exchanged, compared to its average volume of 11,546,591. The firm has a market capitalization of $19.83 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 3.49 and a beta of 1.13. Halliburton Company has a 52 week low of $18.72 and a 52 week high of $37.08. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.98 and a quick ratio of 1.46. The firm has a 50-day moving average price of $20.94 and a two-hundred day moving average price of $23.64.

Halliburton (NYSE:HAL - Get Free Report) last released its earnings results on Tuesday, April 22nd. The oilfield services company reported $0.60 EPS for the quarter, hitting analysts' consensus estimates of $0.60. Halliburton had a return on equity of 24.01% and a net margin of 9.31%. The company had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $5.28 billion. Analysts predict that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $0.68 annualized dividend and a yield of 2.95%. Halliburton's payout ratio is 28.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Halliburton from $27.00 to $28.00 and gave the company an "overweight" rating in a research note on Thursday, June 5th. Morgan Stanley reduced their target price on shares of Halliburton from $34.00 to $28.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Citigroup reduced their target price on shares of Halliburton from $33.00 to $31.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Susquehanna reduced their target price on shares of Halliburton from $32.00 to $30.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Finally, Barclays lowered their target price on Halliburton from $29.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Halliburton currently has a consensus rating of "Moderate Buy" and an average target price of $33.53.

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.