Halliburton Company (HAL) Position Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in shares of Halliburton Company (NYSE:HAL) by 4.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,570,534 shares of the oilfield services company’s stock after purchasing an additional 500,982 shares during the quarter. Bank of New York Mellon Corp owned 1.44% of Halliburton worth $578,622,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Perigon Wealth Management LLC increased its position in shares of Halliburton by 0.8% during the 1st quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock worth $101,000 after purchasing an additional 17 shares during the last quarter. Comerica Securities Inc. grew its position in Halliburton by 0.3% in the 2nd quarter. Comerica Securities Inc. now owns 6,606 shares of the oilfield services company’s stock valued at $282,000 after acquiring an additional 18 shares in the last quarter. Appleton Partners Inc. MA grew its position in Halliburton by 0.4% in the 2nd quarter. Appleton Partners Inc. MA now owns 5,158 shares of the oilfield services company’s stock valued at $220,000 after acquiring an additional 21 shares in the last quarter. Guardian Life Insurance Co. of America grew its position in Halliburton by 1.1% in the 1st quarter. Guardian Life Insurance Co. of America now owns 3,348 shares of the oilfield services company’s stock valued at $165,000 after acquiring an additional 36 shares in the last quarter. Finally, Hedeker Wealth LLC grew its position in Halliburton by 0.3% in the 2nd quarter. Hedeker Wealth LLC now owns 19,541 shares of the oilfield services company’s stock valued at $834,000 after acquiring an additional 56 shares in the last quarter. 79.94% of the stock is owned by hedge funds and other institutional investors.

Halliburton Company (NYSE:HAL) traded down $0.37 during trading hours on Tuesday, hitting $44.21. The stock had a trading volume of 5,350,400 shares, compared to its average volume of 8,790,697. The firm has a market capitalization of $38,897.88, a price-to-earnings ratio of 61.07, a P/E/G ratio of 4.82 and a beta of 1.05. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.67 and a current ratio of 2.20. Halliburton Company has a 1-year low of $38.18 and a 1-year high of $58.78.

Halliburton (NYSE:HAL) last released its earnings results on Monday, October 23rd. The oilfield services company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.04. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.35 billion. Halliburton had a return on equity of 6.93% and a net margin of 1.13%. The company’s revenue for the quarter was up 42.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 earnings per share. analysts expect that Halliburton Company will post 1.16 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Wednesday, December 6th. Halliburton’s payout ratio is currently 300.01%.

Several equities analysts have weighed in on HAL shares. Loop Capital reaffirmed a “buy” rating and issued a $57.00 target price (down from $62.00) on shares of Halliburton in a research report on Tuesday, October 24th. ValuEngine downgraded Halliburton from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Scotiabank reaffirmed a “buy” rating and issued a $52.00 target price on shares of Halliburton in a research report on Wednesday, October 25th. J P Morgan Chase & Co dropped their target price on Halliburton from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, September 12th. Finally, Cowen and Company set a $50.00 target price on Halliburton and gave the company a “hold” rating in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. Halliburton has an average rating of “Buy” and a consensus price target of $57.55.

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In other news, EVP Lawrence J. Pope sold 43,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $39.66, for a total value of $1,705,380.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman David J. Lesar sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $43.70, for a total value of $2,185,000.00. Following the completion of the transaction, the chairman now directly owns 490,143 shares in the company, valued at approximately $21,419,249.10. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

About Halliburton

Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.

Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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