Halliburton Company $HAL Shares Sold by Meyer Handelman Co.

Key Points

• Meyer Handelman Co. has reduced its stake in Halliburton Company by 52.0%, now owning 112,999 shares valued at approximately $2.3 million.
• Recent analyst reports vary greatly, with target prices ranging from $21.00 to $41.00, contributing to an average rating of "Moderate Buy".
• Halliburton announced a quarterly dividend of $0.17 per share, reflecting an annualized payout of $0.68 and a yield of 2.8%.

Meyer Handelman Co. cut its stake in Halliburton Company (NYSE:HAL - Free Report) by 52.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,999 shares of the oilfield services company's stock after selling 122,600 shares during the quarter. Meyer Handelman Co.'s holdings in Halliburton were worth $2,303,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mascagni Wealth Management Inc. purchased a new stake in shares of Halliburton in the fourth quarter valued at approximately $28,000. Stone House Investment Management LLC acquired a new stake in shares of Halliburton during the first quarter worth about $30,000. Hexagon Capital Partners LLC boosted its position in Halliburton by 87.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company's stock valued at $36,000 after buying an additional 656 shares during the period. Zions Bancorporation National Association UT purchased a new position in Halliburton in the first quarter valued at $37,000. Finally, Versant Capital Management Inc grew its position in shares of Halliburton by 830.5% during the first quarter. Versant Capital Management Inc now owns 2,047 shares of the oilfield services company's stock worth $52,000 after buying an additional 1,827 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HAL has been the subject of a number of analyst reports. Barclays lowered their target price on shares of 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 upped their price target on shares of Halliburton from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Wells Fargo & Company reduced 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. Susquehanna reduced their target price on shares of Halliburton from $30.00 to $27.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Finally, Melius started coverage on Halliburton in a research note on Wednesday, August 20th. They issued a "buy" rating and a $41.00 price target on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.37.

Halliburton Stock Up 1.0%

Shares of NYSE HAL opened at $24.69 on Friday. The firm has a market cap of $21.05 billion, a P/E ratio of 11.54 and a beta of 1.10. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 2.00. Halliburton Company has a 1 year low of $18.72 and a 1 year high of $32.57. The firm's 50 day moving average price is $22.07 and its 200 day moving average price is $21.85.

Halliburton (NYSE:HAL - Get Free Report) last released its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.The firm had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the prior year, the business posted $0.80 earnings per share. The firm's revenue for the quarter was down 5.5% compared to the same quarter last year. 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Wednesday, September 3rd. Halliburton's dividend payout ratio is presently 31.78%.

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.

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