Halliburton Company $HAL Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC reduced its stake in Halliburton Company (NYSE: HAL) by 5.9%, selling 74,000 shares to hold 1,173,656 shares valued at approximately $29.78 million.
• Halliburton reported earnings of $0.55 EPS for the last quarter, meeting analyst expectations, but showed a 5.5% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.17 per share, with a dividend yield of 3.1%, scheduled for payment on September 24th.

Gabelli Funds LLC reduced its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 5.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,173,656 shares of the oilfield services company's stock after selling 74,000 shares during the quarter. Gabelli Funds LLC owned approximately 0.14% of Halliburton worth $29,776,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mascagni Wealth Management Inc. bought a new stake in Halliburton during the fourth quarter worth approximately $28,000. Stone House Investment Management LLC acquired a new stake in Halliburton in the 1st quarter valued at approximately $30,000. Hexagon Capital Partners LLC increased its holdings in shares of Halliburton by 87.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company's stock worth $36,000 after acquiring an additional 656 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in Halliburton in the 1st quarter valued at $37,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Halliburton during the 4th quarter worth $39,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Halliburton Stock Up 0.5%

Shares of HAL traded up $0.12 during midday trading on Friday, hitting $22.75. 8,055,025 shares of the company's stock traded hands, compared to its average volume of 10,869,539. Halliburton Company has a 1 year low of $18.72 and a 1 year high of $32.57. The firm's fifty day moving average is $21.59 and its 200-day moving average is $22.24. The company has a current ratio of 2.00, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $19.40 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 3.98 and a beta of 1.12.

Halliburton (NYSE:HAL - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.55. The company had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.43 billion. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.The firm's quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. As a group, sell-side analysts anticipate that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, September 3rd. Halliburton's dividend payout ratio (DPR) is currently 31.78%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of Halliburton from $34.00 to $28.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Stifel Nicolaus reduced their price objective on Halliburton from $31.00 to $29.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Barclays lowered their target price on Halliburton from $26.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 23rd. UBS Group boosted their price target on Halliburton from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company dropped their price objective on Halliburton from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Fourteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.05.

Halliburton Company Profile

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.