Polaris Wealth Advisory Group LLC Trims Stock Position in Halliburton (NYSE:HAL)

Polaris Wealth Advisory Group LLC lessened its position in shares of Halliburton (NYSE:HAL) by 8.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,300 shares of the oilfield services company’s stock after selling 1,000 shares during the quarter. Polaris Wealth Advisory Group LLC’s holdings in Halliburton were worth $135,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Efficient Wealth Management LLC raised its position in Halliburton by 0.5% in the second quarter. Efficient Wealth Management LLC now owns 130,810 shares of the oilfield services company’s stock valued at $1,698,000 after purchasing an additional 709 shares during the period. Gemmer Asset Management LLC raised its position in Halliburton by 63.6% in the second quarter. Gemmer Asset Management LLC now owns 1,898 shares of the oilfield services company’s stock valued at $25,000 after purchasing an additional 738 shares during the period. Cullen Frost Bankers Inc. raised its position in Halliburton by 4.9% in the second quarter. Cullen Frost Bankers Inc. now owns 15,961 shares of the oilfield services company’s stock valued at $207,000 after purchasing an additional 742 shares during the period. Advisors Asset Management Inc. raised its position in Halliburton by 1.1% in the second quarter. Advisors Asset Management Inc. now owns 73,134 shares of the oilfield services company’s stock valued at $949,000 after purchasing an additional 787 shares during the period. Finally, Bremer Bank National Association raised its position in Halliburton by 2.8% in the second quarter. Bremer Bank National Association now owns 33,492 shares of the oilfield services company’s stock valued at $434,000 after purchasing an additional 915 shares during the period. 71.49% of the stock is currently owned by hedge funds and other institutional investors.

NYSE HAL opened at $12.25 on Friday. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.22 and a quick ratio of 1.55. Halliburton has a 1 year low of $4.25 and a 1 year high of $25.47. The company has a market capitalization of $10.76 billion, a PE ratio of -2.66, a P/E/G ratio of 3.59 and a beta of 2.68. The company has a fifty day moving average of $13.81 and a two-hundred day moving average of $12.48.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Monday, July 20th. The oilfield services company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.16. Halliburton had a negative net margin of 21.35% and a positive return on equity of 12.02%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Halliburton’s revenue for the quarter was down 46.1% on a year-over-year basis. On average, research analysts expect that Halliburton will post 0.55 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd were paid a $0.045 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.18 annualized dividend and a yield of 1.47%. Halliburton’s dividend payout ratio is presently 14.52%.

A number of analysts have issued reports on HAL shares. Citigroup boosted their target price on Halliburton from $7.50 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, June 25th. Cowen raised Halliburton from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $13.00 to $17.00 in a research report on Wednesday, July 15th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Halliburton in a research report on Monday, August 17th. AltaCorp Capital raised Halliburton from an “underperform” rating to a “sector perform” rating in a research report on Monday, July 20th. Finally, Credit Suisse Group upped their price objective on Halliburton from $9.50 to $11.75 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $13.14.

Halliburton Profile

Halliburton Co engages in the provision of services and products to the energy industry related to the exploration, development, and production of oil and natural gas. It operates through the following segments: Completion and Production, and Drilling and Evaluation. The Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion services.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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