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

CIBC Asset Management Inc decreased its holdings in Halliburton (NYSE:HAL) by 5.7% in the second quarter, HoldingsChannel.com reports. The fund 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors boosted its stake in 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 buying an additional 377,500 shares during the last quarter. Vanguard Group Inc. boosted its stake in 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 buying an additional 2,618,740 shares during the last quarter. Price T Rowe Associates Inc. MD boosted 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 boosted 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 bought a new position in Halliburton during the fourth quarter valued at approximately $400,070,000. 85.23% of the stock is owned by institutional investors.

Halliburton Stock Down 0.9 %

Shares of NYSE:HAL opened at $29.42 on Thursday. Halliburton has a 52-week low of $29.21 and a 52-week high of $43.85. The stock has a market cap of $26.05 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89. The business’s 50 day moving average is $32.63 and its 200 day moving average is $35.38. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.95 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Halliburton’s revenue was up .6% compared to the same quarter last year. Sell-side analysts predict that Halliburton will post 3.14 EPS for the current year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be paid a $0.17 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $0.68 annualized dividend and a yield of 2.31%. Halliburton’s dividend payout ratio (DPR) is currently 23.53%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley dropped their price target 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 restated a “buy” rating and set a $42.00 price objective on shares of Halliburton in a research report on Monday, July 22nd. Johnson Rice upgraded Halliburton to a “moderate buy” rating in a research report on Friday, July 19th. StockNews.com downgraded Halliburton from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Finally, Barclays decreased their price objective on Halliburton from $54.00 to $48.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Halliburton presently has a consensus rating of “Moderate Buy” and an average price target of $44.88.

Insider Buying and Selling

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $36.75, for a total transaction of $367,500.00. Following the sale, the executive vice president now owns 273,908 shares of the company’s stock, valued at approximately $10,066,119. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is owned by 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.