Halliburton (NYSE:HAL) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lowered its position in shares of Halliburton (NYSE:HAL) by 0.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 243,922 shares of the oilfield services company’s stock after selling 1,100 shares during the quarter. State of Michigan Retirement System’s holdings in Halliburton were worth $9,615,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC bought a new position in shares of Halliburton during the first quarter valued at approximately $26,000. Johnson Financial Group Inc. bought a new position in shares of Halliburton during the fourth quarter valued at approximately $33,000. Ancora Advisors LLC grew its holdings in shares of Halliburton by 443.8% during the third quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock valued at $36,000 after purchasing an additional 719 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in shares of Halliburton during the fourth quarter valued at approximately $36,000. Finally, First United Bank & Trust bought a new position in shares of Halliburton during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Susquehanna reaffirmed a “positive” rating and set a $49.00 target price on shares of Halliburton in a report on Monday, April 8th. Benchmark reissued a “buy” rating and issued a $45.00 price objective on shares of Halliburton in a report on Wednesday, April 24th. Morgan Stanley increased their price objective on Halliburton from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. Jefferies Financial Group increased their price objective on Halliburton from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, TD Cowen increased their price objective on Halliburton from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $48.75.

Insider Activity

In other news, SVP Jill D. Sharp sold 3,346 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $37.00, for a total transaction of $123,802.00. Following the completion of the sale, the senior vice president now owns 40,185 shares in the company, valued at approximately $1,486,845. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Jill D. Sharp sold 3,346 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $37.00, for a total transaction of $123,802.00. Following the completion of the sale, the senior vice president now directly owns 40,185 shares in the company, valued at $1,486,845. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey Shannon Slocum sold 38,941 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $36.92, for a total value of $1,437,701.72. Following the sale, the insider now owns 130,783 shares of the company’s stock, valued at $4,828,508.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,287 shares of company stock worth $1,930,704. Insiders own 0.61% of the company’s stock.

Halliburton Price Performance

Shares of NYSE:HAL traded up $0.19 on Tuesday, reaching $33.62. 7,585,116 shares of the company traded hands, compared to its average volume of 7,303,705. Halliburton has a fifty-two week low of $32.35 and a fifty-two week high of $43.85. The company’s 50 day moving average is $35.79 and its 200-day moving average is $36.33. The stock has a market capitalization of $29.76 billion, a PE ratio of 11.63, a P/E/G ratio of 0.86 and a beta of 1.93. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.12 and a quick ratio of 1.52.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. The company had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.67 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, analysts anticipate that Halliburton will post 3.37 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, June 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.02%. Halliburton’s dividend payout ratio (DPR) is presently 23.53%.

Halliburton Profile

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.