State of New Jersey Common Pension Fund D Has $6.65 Million Holdings in Halliburton Company $HAL

Key Points

• The State of New Jersey Common Pension Fund D sold 42,692 shares of Halliburton Company, reducing its stake by 14.0% to a total of 262,274 shares valued at $6.654 million.
• Halliburton reported earnings of $0.55 EPS for the quarter, matching analysts' expectations, despite a 5.5% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.17 per share, equivalent to an annualized yield of 3.2%, with a payout ratio of 31.78%.

State of New Jersey Common Pension Fund D decreased its position in shares of Halliburton Company (NYSE:HAL - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 262,274 shares of the oilfield services company's stock after selling 42,692 shares during the period. State of New Jersey Common Pension Fund D's holdings in Halliburton were worth $6,654,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Mascagni Wealth Management Inc. acquired a new stake in shares of Halliburton during the fourth quarter worth approximately $28,000. Stone House Investment Management LLC acquired a new stake in shares of Halliburton in the first quarter valued at approximately $30,000. Hexagon Capital Partners LLC increased its holdings in shares of Halliburton by 87.4% in the first quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company's stock valued at $36,000 after purchasing an additional 656 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Halliburton in the first quarter valued at approximately $37,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Halliburton in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 85.23% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on HAL shares. Melius Research started coverage on shares of Halliburton in a report on Wednesday. They issued a "buy" rating and a $41.00 price target for the company. Susquehanna lowered their price target on shares of Halliburton from $30.00 to $27.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Melius started coverage on shares of Halliburton in a report on Wednesday. They issued a "buy" rating and a $41.00 price target for the company. The Goldman Sachs Group lowered their price target on shares of Halliburton from $27.00 to $24.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Barclays lowered their price target on shares of Halliburton from $26.00 to $22.00 and set an "equal weight" rating for the company in a report on Wednesday, July 23rd. Fourteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.05.

Halliburton Trading Up 4.6%

Shares of NYSE HAL traded up $0.9750 during midday trading on Friday, reaching $22.2550. 12,617,447 shares of the stock were exchanged, compared to its average volume of 12,239,343. The business has a 50-day simple moving average of $21.61 and a two-hundred day simple moving average of $22.36. The company has a market capitalization of $18.97 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 3.90 and a beta of 1.12. Halliburton Company has a 12 month low of $18.72 and a 12 month high of $32.57. 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 (NYSE:HAL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share for the quarter, hitting analysts' consensus estimates of $0.55. The company had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.43 billion. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The business's quarterly revenue was down 5.5% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. As a group, equities research analysts expect that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, September 3rd. Halliburton's dividend payout ratio (DPR) is currently 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.