CIBC Asset Management Inc Sells 7,152 Shares of Halliburton (NYSE:HAL)

CIBC Asset Management Inc cut its position in shares of Halliburton (NYSE:HAL) by 5.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 119,284 shares of the oilfield services company’s stock after selling 7,152 shares during the quarter. CIBC Asset Management Inc’s holdings in Halliburton were worth $4,029,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Capital World Investors boosted its position in shares of Halliburton by 0.3% during the first quarter. Capital World Investors now owns 121,928,734 shares of the oilfield services company’s stock valued at $4,806,431,000 after purchasing an additional 377,500 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Halliburton by 2.7% during the first quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock valued at $3,952,805,000 after purchasing an additional 2,618,740 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Halliburton by 46.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock valued at $2,408,171,000 after buying an additional 19,237,784 shares during the last quarter. Sanders Capital LLC raised its stake in Halliburton by 3.4% during the fourth quarter. Sanders Capital LLC now owns 23,538,783 shares of the oilfield services company’s stock valued at $850,927,000 after buying an additional 782,093 shares during the last quarter. Finally, Norges Bank purchased a new position in Halliburton during the fourth quarter valued at $400,070,000. 85.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on HAL shares. Evercore ISI lowered their price objective on Halliburton from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. StockNews.com cut Halliburton from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. Morgan Stanley lowered their price objective on Halliburton from $47.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Benchmark reiterated a “buy” rating and set a $42.00 price objective on shares of Halliburton in a research note on Monday, July 22nd. Finally, Stifel Nicolaus lowered their price objective on Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Halliburton has an average rating of “Moderate Buy” and an average price target of $44.88.

Halliburton Stock Down 0.9 %

Halliburton stock opened at $29.42 on Thursday. The stock has a market cap of $26.05 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13. Halliburton has a one year low of $29.21 and a one year high of $43.85. The stock has a fifty day moving average of $32.63 and a 200 day moving average of $35.38.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The company had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.95 billion. During the same quarter in the prior year, the business earned $0.77 earnings per share. Halliburton’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts predict that Halliburton will post 3.14 EPS for the current year.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.31%. The ex-dividend date is Wednesday, September 4th. Halliburton’s dividend payout ratio is presently 23.53%.

Insider Buying and Selling at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $36.75, for a total transaction of $367,500.00. Following the completion of the sale, the executive vice president now owns 273,908 shares of the company’s stock, valued at $10,066,119. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

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.