Moran Wealth Management LLC Decreases Stake in Halliburton (NYSE:HAL)

Moran Wealth Management LLC decreased its position in shares of Halliburton (NYSE:HAL - Free Report) by 49.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,881 shares of the oilfield services company's stock after selling 92,179 shares during the period. Moran Wealth Management LLC's holdings in Halliburton were worth $2,698,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Country Trust Bank purchased a new stake in Halliburton in the third quarter worth about $36,000. Bruce G. Allen Investments LLC lifted its stake in Halliburton by 274.9% in the second quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company's stock worth $38,000 after acquiring an additional 822 shares during the period. ORG Wealth Partners LLC purchased a new stake in Halliburton in the third quarter worth about $44,000. Venturi Wealth Management LLC lifted its stake in Halliburton by 34.2% in the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company's stock worth $47,000 after acquiring an additional 412 shares during the period. Finally, Beacon Capital Management LLC lifted its stake in Halliburton by 28.8% in the first quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company's stock worth $54,000 after acquiring an additional 309 shares during the period. Institutional investors own 85.23% of the company's stock.

Halliburton Price Performance

Shares of NYSE:HAL traded up $0.07 during midday trading on Friday, reaching $31.94. 9,434,523 shares of the company's stock traded hands, compared to its average volume of 8,122,132. Halliburton has a 1 year low of $27.26 and a 1 year high of $41.56. The company has a market cap of $28.06 billion, a P/E ratio of 11.13, a PEG ratio of 3.75 and a beta of 1.89. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21. The company has a fifty day simple moving average of $29.37 and a two-hundred day simple moving average of $32.07.

Halliburton (NYSE:HAL - Get Free Report) last announced its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.02). Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The business had revenue of $5.70 billion for the quarter, compared to analysts' expectations of $5.83 billion. During the same quarter last year, the business earned $0.79 EPS. The company's quarterly revenue was down 1.8% on a year-over-year basis. Equities analysts predict that Halliburton will post 3.01 EPS for the current fiscal year.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders 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 dividend yield of 2.13%. Halliburton's dividend payout ratio (DPR) is 23.69%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Susquehanna lowered their price objective on shares of Halliburton from $42.00 to $40.00 and set a "positive" rating for the company in a research note on Friday, November 8th. The Goldman Sachs Group decreased their price target on shares of Halliburton from $47.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, August 29th. Jefferies Financial Group decreased their price target on shares of Halliburton from $47.00 to $46.00 and set a "buy" rating for the company in a research report on Tuesday, September 24th. UBS Group decreased their price target on shares of Halliburton from $41.00 to $37.00 and set a "buy" rating for the company in a research report on Wednesday, September 18th. Finally, Bank of America decreased their price target on shares of Halliburton from $40.00 to $38.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $40.74.

Halliburton Company 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.