Halliburton (HAL) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its position in shares of Halliburton (NYSE:HAL) by 45.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,106 shares of the oilfield services company’s stock after selling 31,925 shares during the quarter. Kentucky Retirement Systems’ holdings in Halliburton were worth $1,013,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. SevenBridge Financial Group LLC raised its position in Halliburton by 387.5% in the 4th quarter. SevenBridge Financial Group LLC now owns 975 shares of the oilfield services company’s stock worth $26,000 after purchasing an additional 775 shares during the last quarter. Essex Savings Bank bought a new stake in shares of Halliburton during the 4th quarter valued at $27,000. CX Institutional bought a new stake in shares of Halliburton during the 4th quarter valued at $30,000. Capital Investment Advisory Services LLC bought a new stake in shares of Halliburton during the 4th quarter valued at $38,000. Finally, CKW Financial Group bought a new stake in shares of Halliburton during the 4th quarter valued at $40,000. 80.94% of the stock is currently owned by institutional investors and hedge funds.

In other Halliburton news, CFO Lance Loeffler sold 5,926 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $28.35, for a total value of $168,002.10. Following the transaction, the chief financial officer now directly owns 55,885 shares of the company’s stock, valued at approximately $1,584,339.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is owned by corporate insiders.

HAL has been the subject of several recent research reports. Zacks Investment Research cut shares of Halliburton from a “hold” rating to a “strong sell” rating in a research report on Friday, January 11th. Wells Fargo & Co reissued a “buy” rating on shares of Halliburton in a report on Sunday, January 6th. UBS Group set a $40.00 price target on shares of Halliburton and gave the company a “buy” rating in a report on Wednesday, January 23rd. Cowen raised shares of Halliburton from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $45.00 to $35.00 in a report on Thursday, January 17th. Finally, Raymond James set a $45.00 price target on shares of Halliburton and gave the company a “buy” rating in a report on Wednesday, January 23rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $45.38.

Shares of HAL stock traded down $0.46 on Friday, reaching $31.13. The stock had a trading volume of 9,759,182 shares, compared to its average volume of 8,108,804. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.69 and a current ratio of 2.32. The stock has a market cap of $27.17 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.66 and a beta of 1.17. Halliburton has a 12 month low of $24.70 and a 12 month high of $54.91.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, January 22nd. The oilfield services company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.04. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.87 billion. Halliburton had a net margin of 6.90% and a return on equity of 18.57%. The business’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. Sell-side analysts predict that Halliburton will post 1.35 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were issued a $0.18 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.72 annualized dividend and a yield of 2.31%. Halliburton’s dividend payout ratio is currently 37.89%.

TRADEMARK VIOLATION WARNING: This piece of content was reported by Baseball Daily News and is the property of of Baseball Daily News. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. & international copyright and trademark laws. The legal version of this piece of content can be accessed at https://www.baseballdailydigest.com/news/2019/04/21/kentucky-retirement-systems-sells-31925-shares-of-halliburton-hal.html.

About Halliburton

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.

Further Reading: Quiet Period Expirations

Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

Receive News & Ratings for Halliburton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halliburton and related companies with MarketBeat.com's FREE daily email newsletter.