Summit Trail Advisors LLC Sells 7,610 Shares of Halliburton (NYSE:HAL)

Summit Trail Advisors LLC decreased its position in shares of Halliburton (NYSE:HAL) by 36.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,480 shares of the oilfield services company’s stock after selling 7,610 shares during the quarter. Summit Trail Advisors LLC’s holdings in Halliburton were worth $392,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Bayesian Capital Management LP bought a new stake in shares of Halliburton during the 1st quarter worth approximately $374,000. Janus Henderson Group PLC lifted its stake in Halliburton by 131.8% during the first quarter. Janus Henderson Group PLC now owns 278,194 shares of the oilfield services company’s stock worth $10,963,000 after purchasing an additional 158,169 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Halliburton in the 1st quarter valued at $1,616,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Halliburton by 25.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 23,971 shares of the oilfield services company’s stock valued at $971,000 after purchasing an additional 4,849 shares in the last quarter. Finally, Comerica Bank increased its stake in shares of Halliburton by 0.4% in the 1st quarter. Comerica Bank now owns 247,937 shares of the oilfield services company’s stock valued at $9,774,000 after purchasing an additional 1,062 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Price Performance

Shares of HAL opened at $31.81 on Wednesday. The business has a 50-day moving average of $29.57 and a 200-day moving average of $31.89. Halliburton has a 1 year low of $27.26 and a 1 year high of $41.56. The company has a market capitalization of $27.95 billion, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 3.93 and a beta of 1.89. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.02). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. During the same quarter in the previous year, the business posted $0.79 EPS. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Halliburton will post 3.01 earnings per share for the current year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.14%. Halliburton’s dividend payout ratio (DPR) is currently 23.69%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HAL shares. Jefferies Financial Group dropped their price objective on Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Morgan Stanley dropped their target price on shares of Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Bank of America decreased their price target on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Wells Fargo & Company lowered their price objective on shares of Halliburton from $46.00 to $39.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. Finally, Dbs Bank began coverage on shares of Halliburton in a research report on Wednesday, September 18th. They issued a “buy” rating and a $45.00 target price on the stock. Four investment 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.74.

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.