Halliburton (NYSE:HAL) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lessened its holdings in shares of Halliburton (NYSE:HAL) by 8.9% during the third quarter, HoldingsChannel reports. The fund owned 9,319 shares of the oilfield services company’s stock after selling 906 shares during the period. Cornerstone Wealth Management LLC’s holdings in Halliburton were worth $271,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Rise Advisors LLC purchased a new position in shares of Halliburton in the 1st quarter valued at about $26,000. Country Trust Bank purchased a new position in Halliburton in the third quarter valued at about $36,000. Bruce G. Allen Investments LLC lifted its position in shares of Halliburton by 274.9% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock valued at $38,000 after acquiring an additional 822 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Halliburton during the 3rd quarter worth approximately $44,000. Finally, Crewe Advisors LLC acquired a new stake in shares of Halliburton in the 1st quarter worth approximately $46,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Trading Down 2.1 %

NYSE HAL opened at $28.33 on Friday. The company has a 50-day moving average of $30.00 and a 200-day moving average of $33.69. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 1.54. Halliburton has a 12 month low of $27.52 and a 12 month high of $43.83. The company has a market cap of $25.08 billion, a P/E ratio of 9.80, a P/E/G ratio of 1.04 and a beta of 1.88.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The company had revenue of $5.83 billion for the quarter, compared to the consensus estimate of $5.95 billion. During the same quarter last year, the firm posted $0.77 earnings per share. Halliburton’s revenue was up .6% on a year-over-year basis. As a group, equities analysts predict that Halliburton will post 3.13 earnings per share for the current year.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Wednesday, September 4th. Halliburton’s dividend payout ratio (DPR) is currently 23.53%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HAL. JPMorgan Chase & Co. reduced their price objective on Halliburton from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. TD Cowen decreased their price objective on shares of Halliburton from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. UBS Group dropped their target price on shares of Halliburton from $41.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. The Goldman Sachs Group cut their target price on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, Jefferies Financial Group lowered their price target on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.74.

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.