Northern Trust Corp Decreases Stock Position in Halliburton Company $HAL

Key Points

• Northern Trust Corp has reduced its stake in Halliburton Company by 2.7%, now owning approximately 1.04% of the company with a value of $226.71 million after selling 248,571 shares in the first quarter.
• In contrast, Charles Schwab Investment Management Inc. has significantly increased its position in Halliburton by 450.9%, owning nearly 30 million shares worth $759.62 million after purchasing an additional 24.5 million shares.
• Halliburton announced a quarterly dividend of $0.17 per share, which will be paid to investors on September 24, representing an annualized yield of 3.2%.

Northern Trust Corp reduced its position in Halliburton Company (NYSE:HAL - Free Report) by 2.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,936,279 shares of the oilfield services company's stock after selling 248,571 shares during the quarter. Northern Trust Corp owned approximately 1.04% of Halliburton worth $226,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in Halliburton by 450.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company's stock worth $759,623,000 after buying an additional 24,506,472 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in Halliburton by 15.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,093,680 shares of the oilfield services company's stock worth $437,587,000 after buying an additional 2,171,722 shares during the last quarter. Invesco Ltd. increased its position in Halliburton by 7.3% in the first quarter. Invesco Ltd. now owns 10,813,905 shares of the oilfield services company's stock worth $274,349,000 after buying an additional 731,105 shares during the last quarter. LSV Asset Management increased its position in Halliburton by 3.3% in the first quarter. LSV Asset Management now owns 6,113,044 shares of the oilfield services company's stock worth $155,088,000 after buying an additional 193,022 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Halliburton by 38.2% in the fourth quarter. Deutsche Bank AG now owns 5,356,849 shares of the oilfield services company's stock worth $145,653,000 after acquiring an additional 1,481,110 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Price Performance

Halliburton stock opened at $21.2450 on Friday. Halliburton Company has a 52 week low of $18.72 and a 52 week high of $32.57. The business has a 50-day simple moving average of $21.63 and a 200 day simple moving average of $22.42. 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 $18.11 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 3.69 and a beta of 1.12.

Halliburton (NYSE:HAL - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 EPS 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 business had revenue of $5.51 billion during the quarter, compared to analysts' expectations of $5.43 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The firm's revenue was down 5.5% on a year-over-year basis. On average, research analysts forecast that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, September 3rd. Halliburton's payout ratio is presently 31.78%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on HAL shares. Morgan Stanley reduced their price target on Halliburton from $34.00 to $28.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Melius Research started coverage on Halliburton in a research report on Wednesday. They issued a "buy" rating and a $41.00 price target for the company. Melius started coverage on Halliburton in a research report on Wednesday. They issued a "buy" rating and a $41.00 price target for the company. Stifel Nicolaus reduced their price target on Halliburton from $31.00 to $29.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Finally, UBS Group lifted their price target on Halliburton from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Wednesday. Fourteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Halliburton presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.05.

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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