The Manufacturers Life Insurance Company Has $17.28 Million Stock Position in Halliburton Company $HAL

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Halliburton Company by 3.6% to 680,929 shares, valued at approximately $17.28 million.
• Halliburton reported earnings of $0.55 per share for its latest quarter, matching analysts' expectations, with revenue of $5.51 billion.
• The company announced a quarterly dividend of $0.17 per share, equivalent to an annual yield of 3.0%.

The Manufacturers Life Insurance Company decreased its stake in Halliburton Company (NYSE:HAL - Free Report) by 3.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 680,929 shares of the oilfield services company's stock after selling 25,643 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Halliburton worth $17,275,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of HAL. Charles Schwab Investment Management Inc. boosted its position in shares of Halliburton by 450.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company's stock valued at $759,623,000 after purchasing an additional 24,506,472 shares during the period. Nuveen LLC acquired a new position in shares of Halliburton in the 1st quarter valued at $72,637,000. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Halliburton by 15.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,093,680 shares of the oilfield services company's stock valued at $437,587,000 after purchasing an additional 2,171,722 shares during the period. Victory Capital Management Inc. boosted its position in Halliburton by 121.8% during the 1st quarter. Victory Capital Management Inc. now owns 3,306,224 shares of the oilfield services company's stock worth $83,879,000 after acquiring an additional 1,815,357 shares during the period. Finally, Twinbeech Capital LP boosted its position in Halliburton by 314.1% during the 4th quarter. Twinbeech Capital LP now owns 2,044,661 shares of the oilfield services company's stock worth $55,594,000 after acquiring an additional 1,550,920 shares during the period. Institutional investors and hedge funds own 85.23% of the company's stock.

Halliburton Stock Down 0.2%

Shares of HAL stock opened at $22.69 on Wednesday. The stock's 50 day simple moving average is $21.67 and its 200 day simple moving average is $22.19. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 2.00. Halliburton Company has a twelve month low of $18.72 and a twelve month high of $32.57. The company has a market capitalization of $19.34 billion, a price-to-earnings ratio of 10.60 and a beta of 1.10.

Halliburton (NYSE:HAL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share for the quarter, meeting analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $5.43 billion. During the same period last year, the business earned $0.80 EPS. The firm's revenue was down 5.5% compared to the same quarter last year. As a group, research analysts predict that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, September 3rd. Halliburton's dividend payout ratio (DPR) is presently 31.78%.

Wall Street Analysts Forecast Growth

HAL has been the topic of a number of research reports. Royal Bank Of Canada dropped their target price on Halliburton from $28.00 to $24.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 23rd. Wells Fargo & Company cut their price target on Halliburton from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Morgan Stanley cut their price target on Halliburton from $34.00 to $28.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. UBS Group raised their price target on Halliburton from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Finally, Stifel Nicolaus cut their price target on Halliburton from $31.00 to $29.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Fourteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Halliburton presently has an average 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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