Jacobi Capital Management LLC Decreases Stock Position in Halliburton (NYSE:HAL)

Jacobi Capital Management LLC decreased its stake in shares of Halliburton (NYSE:HAL) by 3.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 16,813 shares of the oilfield services company’s stock after selling 597 shares during the period. Jacobi Capital Management LLC’s holdings in Halliburton were worth $663,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Rise Advisors LLC purchased a new stake in shares of Halliburton during the first quarter worth approximately $26,000. IAG Wealth Partners LLC acquired a new position in Halliburton during the 1st quarter worth approximately $30,000. Johnson Financial Group Inc. purchased a new stake in shares of Halliburton in the 4th quarter valued at approximately $33,000. Princeton Global Asset Management LLC acquired a new stake in shares of Halliburton in the 4th quarter valued at $36,000. Finally, First United Bank & Trust purchased a new stake in shares of Halliburton during the 4th quarter worth $36,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Activity at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 273,908 shares of the company’s stock, valued at $10,066,119. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jeffrey Shannon Slocum sold 38,941 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total value of $1,437,701.72. Following the completion of the transaction, the insider now owns 130,783 shares of the company’s stock, valued at $4,828,508.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $10,066,119. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,287 shares of company stock valued at $2,298,204. 0.61% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Bank of America lowered their price target on Halliburton from $41.00 to $40.00 and set a “buy” rating for the company in a report on Monday. Benchmark reiterated a “buy” rating and set a $42.00 price target on shares of Halliburton in a research note on Monday. Wells Fargo & Company decreased their price objective on shares of Halliburton from $50.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Morgan Stanley cut their target price on Halliburton from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Royal Bank of Canada lowered their target price on shares of Halliburton from $45.00 to $44.00 and set an “outperform” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Halliburton presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.88.

Halliburton Price Performance

Shares of NYSE:HAL traded down $1.01 during midday trading on Monday, hitting $33.39. 13,835,533 shares of the stock were exchanged, compared to its average volume of 7,487,808. Halliburton has a twelve month low of $32.60 and a twelve month high of $43.85. The company has a current ratio of 2.12, a quick ratio of 1.52 and a debt-to-equity ratio of 0.79. The company has a 50 day moving average price of $34.85 and a 200-day moving average price of $36.12. The stock has a market cap of $29.56 billion, a P/E ratio of 11.66, a PEG ratio of 0.96 and a beta of 1.93.

Halliburton (NYSE:HAL) last announced its earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The company had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.95 billion. During the same quarter in the previous year, the business posted $0.77 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, research analysts forecast that Halliburton will post 3.35 earnings per share for the current year.

Halliburton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 5th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Wednesday, June 5th. Halliburton’s payout ratio is currently 23.53%.

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.