Ilmarinen Mutual Pension Insurance Co Reduces Holdings in Halliburton Company $HAL

Key Points

• Ilmarinen Mutual Pension Insurance Co has reduced its holdings in Halliburton by 16.4%, now owning 132,744 shares after selling 26,000 shares during the first quarter.
• Despite the reduction, several institutional investors increased their stakes in Halliburton, including BNP Paribas, which raised its position by 42.4% to own 308,099 shares.
• Halliburton recently announced a quarterly dividend of $0.17 per share, representing a 3.0% yield and a payout ratio of 31.78%.

Ilmarinen Mutual Pension Insurance Co reduced its position in Halliburton Company (NYSE:HAL - Free Report) by 16.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 132,744 shares of the oilfield services company's stock after selling 26,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Halliburton were worth $3,368,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HAL. ORG Partners LLC raised its position in shares of Halliburton by 13,675.2% in the first quarter. ORG Partners LLC now owns 17,219 shares of the oilfield services company's stock valued at $440,000 after buying an additional 17,094 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Halliburton by 42.4% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 308,099 shares of the oilfield services company's stock valued at $7,816,000 after acquiring an additional 91,791 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Halliburton by 33.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 159,533 shares of the oilfield services company's stock valued at $4,047,000 after acquiring an additional 40,109 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in Halliburton by 22.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 128,351 shares of the oilfield services company's stock worth $3,256,000 after purchasing an additional 23,887 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Halliburton by 2.5% in the first quarter. Principal Financial Group Inc. now owns 2,780,057 shares of the oilfield services company's stock valued at $70,530,000 after purchasing an additional 67,704 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on HAL shares. Wells Fargo & Company reduced their price objective on Halliburton from $28.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Susquehanna reduced their price target on Halliburton from $30.00 to $27.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Melius began coverage on shares of Halliburton in a research report on Wednesday, August 20th. They set a "buy" rating and a $41.00 price target on the stock. Barclays cut their price objective on shares of Halliburton from $26.00 to $22.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 23rd. Finally, Stifel Nicolaus decreased their target price on shares of Halliburton from $31.00 to $29.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Fourteen investment 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, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $32.05.

Halliburton Stock Performance

NYSE:HAL opened at $22.59 on Thursday. Halliburton Company has a fifty-two week low of $18.72 and a fifty-two week high of $32.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 2.00. The company has a 50 day moving average price of $21.82 and a 200 day moving average price of $22.04. The stock has a market capitalization of $19.26 billion, a P/E ratio of 10.56 and a beta of 1.10.

Halliburton (NYSE:HAL - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 EPS for the quarter, hitting analysts' consensus estimates of $0.55. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.The company had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.43 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. The firm's revenue was down 5.5% compared to the same quarter last year. Equities research analysts forecast that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be given a $0.17 dividend. 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 payout ratio is currently 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.

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