Bank of New York Mellon Corp Lowers Holdings in 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.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC bought a new stake in Halliburton in the 1st quarter valued at $57,000. Eukles Asset Management lifted its holdings in shares of Halliburton by 12.2% in the first quarter. Eukles Asset Management now owns 13,790 shares of the oilfield services company's stock worth $350,000 after acquiring an additional 1,494 shares during the last quarter. Argyle Capital Management LLC boosted its position in Halliburton by 5.8% in the first quarter. Argyle Capital Management LLC now owns 59,985 shares of the oilfield services company's stock valued at $1,522,000 after buying an additional 3,299 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in shares of Halliburton during the 1st quarter valued at $213,000. Finally, D.A. Davidson & CO. grew its holdings in shares of Halliburton by 24.1% during the first quarter. D.A. Davidson & CO. now owns 44,453 shares of the oilfield services company's stock worth $1,128,000 after purchasing an additional 8,626 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on HAL shares. Wells Fargo & Company upped their price target on Halliburton from $27.00 to $28.00 and gave the company an "overweight" rating in a research report on Thursday, June 5th. The Goldman Sachs Group reduced their price objective on shares of Halliburton from $27.00 to $24.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. UBS Group lowered their price objective on Halliburton from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 2nd. Hsbc Global Res upgraded Halliburton to a "hold" rating in a research report on Wednesday, April 23rd. Finally, Stifel Nicolaus lowered their price objective on shares of Halliburton from $37.00 to $32.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $33.53.

Halliburton Price Performance

Shares of Halliburton stock traded down $0.09 during trading hours on Wednesday, reaching $22.07. The stock had a trading volume of 12,290,793 shares, compared to its average volume of 11,478,132. The stock's 50 day moving average is $20.85 and its 200 day moving average is $23.68. The company has a current ratio of 1.98, a quick ratio of 1.46 and a debt-to-equity ratio of 0.69. Halliburton Company has a twelve month low of $18.72 and a twelve month high of $37.08. The firm has a market capitalization of $18.97 billion, a PE ratio of 9.23, a PEG ratio of 3.49 and a beta of 1.13.

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

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $0.68 annualized dividend and a dividend yield of 3.08%. Halliburton's dividend payout ratio (DPR) is presently 28.45%.

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.