Gamco Investors INC. ET AL Has $20.66 Million Stock Holdings in Halliburton Company $HAL

Key Points

• Gamco Investors INC. reduced its holdings in Halliburton Company by 4.4%, owning 814,322 shares worth $20.7 million after selling 37,385 shares.
• Multiple analysts have downgraded Halliburton's target prices, with Morgan Stanley lowering it from $34 to $28 and Goldman Sachs reducing it from $27 to $24.
• Halliburton declared a quarterly dividend of $0.17, representing an annualized yield of 3.1%, with a payout ratio of 31.78%.

Gamco Investors INC. ET AL cut its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 814,322 shares of the oilfield services company's stock after selling 37,385 shares during the quarter. Gamco Investors INC. ET AL owned about 0.09% of Halliburton worth $20,659,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HAL. MML Investors Services LLC boosted its stake in Halliburton by 15.7% in the 4th quarter. MML Investors Services LLC now owns 46,866 shares of the oilfield services company's stock valued at $1,274,000 after purchasing an additional 6,361 shares during the period. MGO One Seven LLC lifted its position in shares of Halliburton by 21.6% during the 4th quarter. MGO One Seven LLC now owns 12,262 shares of the oilfield services company's stock valued at $333,000 after acquiring an additional 2,177 shares during the period. Coldstream Capital Management Inc. lifted its position in shares of Halliburton by 24.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 17,420 shares of the oilfield services company's stock valued at $474,000 after acquiring an additional 3,466 shares during the period. Boothbay Fund Management LLC lifted its position in shares of Halliburton by 275.5% during the 4th quarter. Boothbay Fund Management LLC now owns 34,579 shares of the oilfield services company's stock valued at $940,000 after acquiring an additional 25,370 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Halliburton by 16.2% during the 4th quarter. Northern Trust Corp now owns 9,184,850 shares of the oilfield services company's stock valued at $249,736,000 after acquiring an additional 1,283,094 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Morgan Stanley cut their target price on 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 cut their target price on Halliburton from $31.00 to $29.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Susquehanna cut their target price on Halliburton from $30.00 to $27.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Melius Research initiated coverage on Halliburton in a research report on Wednesday, August 20th. They set a "buy" rating and a $41.00 price objective for the company. Finally, Melius initiated coverage on Halliburton in a research report on Wednesday, August 20th. They set a "buy" rating and a $41.00 price objective for the company. Fourteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $32.05.

Halliburton Price Performance

HAL traded up $0.12 on Friday, reaching $22.75. The stock had a trading volume of 8,055,025 shares, compared to its average volume of 10,869,539. The company 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. The firm has a 50-day moving average of $21.59 and a 200-day moving average of $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. Halliburton Company has a fifty-two week low of $18.72 and a fifty-two week high of $32.57.

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

Halliburton Dividend Announcement

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

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.