Pacer Advisors Inc. Has $108.14 Million Stock Holdings in Halliburton Company $HAL

Key Points

• Pacer Advisors Inc. sharply reduced its Halliburton stake in the fourth quarter, cutting its holdings by 62.3% to 3.83 million shares worth about $108.1 million.
• Wall Street remains broadly positive on HAL, with 18 analysts rating it a Buy and the consensus price target sitting at $43.27, above the stock’s recent price of $34.93.
• Halliburton posted solid quarterly results and a dividend, beating EPS and revenue expectations, and it recently declared a $0.17 quarterly dividend payable June 24 for a 1.9% annualized yield.

Pacer Advisors Inc. trimmed its position in Halliburton Company (NYSE:HAL - Free Report) by 62.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,826,632 shares of the oilfield services company's stock after selling 6,327,973 shares during the quarter. Pacer Advisors Inc. owned 0.46% of Halliburton worth $108,141,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors boosted its holdings in shares of Halliburton by 81.8% in the 3rd quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company's stock valued at $2,239,349,000 after purchasing an additional 40,969,139 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Halliburton by 82,596.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company's stock worth $841,339,000 after buying an additional 29,735,387 shares in the last quarter. Strive Asset Management LLC acquired a new position in shares of Halliburton during the 3rd quarter worth $418,738,000. Norges Bank bought a new stake in shares of Halliburton during the 4th quarter worth $169,304,000. Finally, Holocene Advisors LP acquired a new stake in Halliburton in the third quarter valued at about $147,315,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HAL has been the topic of a number of recent analyst reports. Citigroup lifted their target price on Halliburton from $47.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, June 3rd. Capital One Financial upped their price objective on shares of Halliburton from $41.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 20th. Evercore raised their target price on shares of Halliburton from $42.00 to $46.00 and gave the company an "outperform" rating in a research report on Thursday, May 28th. UBS Group boosted their target price on shares of Halliburton from $35.00 to $39.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 7th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $47.00 price target on shares of Halliburton in a report on Sunday, April 26th. Eighteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.27.

Halliburton Price Performance

HAL stock opened at $34.93 on Friday. The company has a fifty day moving average price of $39.72 and a 200-day moving average price of $35.39. The company has a market capitalization of $29.18 billion, a P/E ratio of 19.19, a PEG ratio of 1.57 and a beta of 0.69. Halliburton Company has a 52-week low of $20.09 and a 52-week high of $43.59. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08.

Halliburton (NYSE:HAL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.05. The business had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.37 billion. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.Halliburton's quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. As a group, equities analysts expect that Halliburton Company will post 2.34 EPS for the current year.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.9%. Halliburton's dividend payout ratio is presently 37.36%.

Insider Buying and Selling

In other news, Director Tobi M. Young sold 6,125 shares of the firm's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $41.72, for a total transaction of $255,535.00. Following the completion of the transaction, the director directly owned 15,250 shares in the company, valued at $636,230. This trade represents a 28.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Allen Miller sold 158,455 shares of Halliburton stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $40.00, for a total value of $6,338,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,013,027 shares in the company, valued at approximately $40,521,080. This represents a 13.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 391,932 shares of company stock valued at $15,999,453. Corporate insiders own 0.57% of the company's stock.

About Halliburton

Halliburton is one of the world's largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company's activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.

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