Korea Investment CORP Cuts Stock Position in Halliburton Company $HAL

Key Points

• Korea Investment CORP reduced its stake in Halliburton by 16.8% during the first quarter, owning 656,151 shares valued at approximately $16.6 million post-sale.
• Halliburton's recent earnings report showed revenue of $5.51 billion for the quarter, slightly exceeding analyst expectations, despite a year-over-year decrease of 5.5% in revenue.
• The company declared a quarterly dividend of $0.17 per share, representing a yield of 3.2% and a payout ratio of 31.78%.

Korea Investment CORP trimmed its position in shares of Halliburton Company (NYSE:HAL - Free Report) by 16.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 656,151 shares of the oilfield services company's stock after selling 132,788 shares during the quarter. Korea Investment CORP owned 0.08% of Halliburton worth $16,647,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Mascagni Wealth Management Inc. purchased a new position in shares of Halliburton in the fourth quarter valued at approximately $28,000. Stone House Investment Management LLC purchased a new stake in Halliburton during the 1st quarter worth approximately $30,000. Hexagon Capital Partners LLC lifted its holdings in 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 buying an additional 656 shares in the last quarter. Vermillion Wealth Management Inc. purchased a new position in Halliburton in the 4th quarter valued at approximately $39,000. Finally, Zions Bancorporation National Association UT purchased a new position in Halliburton in the 1st quarter valued at approximately $37,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HAL has been the topic of a number of recent research reports. Hsbc Global Res raised Halliburton to a "hold" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada cut their price target on Halliburton from $28.00 to $24.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 23rd. Stifel Nicolaus reduced their price target on Halliburton from $31.00 to $29.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Wells Fargo & Company lowered their price objective on Halliburton from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Finally, The Goldman Sachs Group reduced their target price on shares of Halliburton from $27.00 to $24.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Fourteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Halliburton has an average rating of "Moderate Buy" and an average target price of $32.05.

Halliburton Price Performance

HAL stock opened at $21.0850 on Thursday. The business has a 50 day moving average price of $21.64 and a 200 day moving average price of $22.45. The company has a quick ratio of 1.47, a current ratio of 2.00 and a debt-to-equity ratio of 0.68. The stock has a market cap of $17.98 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 3.69 and a beta of 1.12. 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 released its quarterly earnings data on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share for the quarter, hitting analysts' consensus estimates of $0.55. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The company had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.43 billion. During the same quarter last year, the company earned $0.80 earnings per share. The firm's revenue for the quarter was down 5.5% on a year-over-year basis. Equities research analysts anticipate that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 3.2%. Halliburton's payout ratio is 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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