QRG Capital Management Inc. Reduces Stock Holdings in Halliburton Company (NYSE:HAL)

QRG Capital Management Inc. reduced its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 76.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,764 shares of the oilfield services company's stock after selling 34,072 shares during the period. QRG Capital Management Inc.'s holdings in Halliburton were worth $273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Great Lakes Retirement Inc. increased its holdings in shares of Halliburton by 8.2% during the first quarter. Great Lakes Retirement Inc. now owns 25,867 shares of the oilfield services company's stock valued at $656,000 after acquiring an additional 1,960 shares in the last quarter. Sowell Financial Services LLC grew its position in Halliburton by 5.5% during the 1st quarter. Sowell Financial Services LLC now owns 24,036 shares of the oilfield services company's stock worth $610,000 after purchasing an additional 1,262 shares during the last quarter. Trust Co. of Toledo NA OH increased its stake in Halliburton by 10.6% during the 1st quarter. Trust Co. of Toledo NA OH now owns 9,121 shares of the oilfield services company's stock valued at $231,000 after purchasing an additional 874 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Halliburton by 67.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 27,374 shares of the oilfield services company's stock valued at $694,000 after purchasing an additional 10,998 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC raised its holdings in shares of Halliburton by 38.1% in the first quarter. Foster Victor Wealth Advisors LLC now owns 722,558 shares of the oilfield services company's stock worth $18,331,000 after buying an additional 199,168 shares during the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HAL. Wells Fargo & Company boosted their price objective on shares of Halliburton from $27.00 to $28.00 and gave the company an "overweight" rating in a report on Thursday, June 5th. The Goldman Sachs Group dropped their price target on Halliburton from $27.00 to $24.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley cut their price objective on Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Citigroup decreased their target price on Halliburton from $33.00 to $31.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, UBS Group cut their price target on shares of Halliburton from $23.00 to $22.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Halliburton has a consensus rating of "Moderate Buy" and a consensus target price of $33.58.

Halliburton Trading Down 6.6%

Shares of Halliburton stock opened at $20.80 on Tuesday. The firm has a 50-day simple moving average of $20.90 and a two-hundred day simple moving average of $24.17. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.46 and a current ratio of 1.98. Halliburton Company has a fifty-two week low of $18.72 and a fifty-two week high of $37.08. The company has a market cap of $17.88 billion, a P/E ratio of 8.70, a price-to-earnings-growth ratio of 3.48 and a beta of 1.14.

Halliburton (NYSE:HAL - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The oilfield services company reported $0.60 earnings per share for the quarter, hitting analysts' consensus estimates of $0.60. Halliburton had a return on equity of 24.01% and a net margin of 9.31%. The company had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.28 billion. As a group, equities analysts predict that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.27%. Halliburton's dividend payout ratio (DPR) is 28.45%.

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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