New York State Teachers Retirement System Cuts Stake in Halliburton Company $HAL

Key Points

• The New York State Teachers Retirement System has reduced its stake in Halliburton Company by 5.0%, selling 40,912 shares, and now owns approximately 776,929 shares valued at around $15.83 million.
• Halliburton recently announced a $0.17 quarterly dividend, which reflects a 3.1% yield, and has a payout ratio of 31.78%.
• Analysts have mixed opinions about Halliburton, with some rating it a "buy" and others reducing price targets, resulting in a consensus target price of $30.61.

New York State Teachers Retirement System reduced its position in Halliburton Company (NYSE:HAL - Free Report) by 5.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 776,929 shares of the oilfield services company's stock after selling 40,912 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Halliburton worth $15,834,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Mutual Advisors LLC purchased a new position in Halliburton in the second quarter worth $375,000. Generali Asset Management SPA SGR grew its holdings in Halliburton by 9.8% in the second quarter. Generali Asset Management SPA SGR now owns 214,400 shares of the oilfield services company's stock worth $4,369,000 after purchasing an additional 19,096 shares during the last quarter. Bayforest Capital Ltd grew its holdings in Halliburton by 11.8% in the second quarter. Bayforest Capital Ltd now owns 7,514 shares of the oilfield services company's stock worth $153,000 after purchasing an additional 793 shares during the last quarter. NorthRock Partners LLC purchased a new position in Halliburton in the second quarter worth $557,000. Finally, Atria Wealth Solutions Inc. grew its holdings in Halliburton by 5.9% in the second quarter. Atria Wealth Solutions Inc. now owns 11,358 shares of the oilfield services company's stock worth $231,000 after purchasing an additional 630 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Stock Up 2.0%

HAL stock opened at $22.25 on Friday. The firm's fifty day simple moving average is $22.63 and its 200-day simple moving average is $21.66. The company has a market capitalization of $18.97 billion, a P/E ratio of 10.40 and a beta of 1.02. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.00 and a quick ratio of 1.47. Halliburton Company has a 12 month low of $18.72 and a 12 month 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 EPS for the quarter, meeting the consensus estimate of $0.55. The business had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.43 billion. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The business's revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS. As a group, equities research analysts forecast that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Wednesday, September 3rd. Halliburton's payout ratio is currently 31.78%.

Wall Street Analysts Forecast Growth

HAL has been the topic of several research analyst reports. Melius initiated coverage on shares of Halliburton in a research report on Wednesday, August 20th. They set a "buy" rating and a $41.00 target price on the stock. Wells Fargo & Company dropped their target price on shares of Halliburton from $28.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Barclays dropped their target price on shares of Halliburton from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Citigroup reissued a "buy" rating on shares of Halliburton in a research report on Tuesday. Finally, Susquehanna dropped their target price on shares of Halliburton from $30.00 to $27.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Thirteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.61.

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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