Gamco Investors INC. ET AL Decreases Stake in Halliburton (HAL)

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Gamco Investors INC. ET AL lowered its position in shares of Halliburton (NYSE:HAL) by 2.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 355,891 shares of the oilfield services company’s stock after selling 9,355 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Halliburton were worth $14,424,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Xact Kapitalforvaltning AB boosted its holdings in Halliburton by 1.2% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 93,786 shares of the oilfield services company’s stock worth $4,226,000 after acquiring an additional 1,105 shares during the period. Trust Co. of Vermont boosted its holdings in Halliburton by 58.5% in the 2nd quarter. Trust Co. of Vermont now owns 3,024 shares of the oilfield services company’s stock worth $137,000 after acquiring an additional 1,116 shares during the period. GWM Advisors LLC boosted its holdings in Halliburton by 8.1% in the 2nd quarter. GWM Advisors LLC now owns 15,307 shares of the oilfield services company’s stock worth $681,000 after acquiring an additional 1,150 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Halliburton by 2.0% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 62,265 shares of the oilfield services company’s stock worth $2,805,000 after acquiring an additional 1,191 shares during the period. Finally, Pillar Pacific Capital Management LLC boosted its holdings in Halliburton by 1.1% in the 2nd quarter. Pillar Pacific Capital Management LLC now owns 116,530 shares of the oilfield services company’s stock worth $5,250,000 after acquiring an additional 1,230 shares during the period. Institutional investors and hedge funds own 79.62% of the company’s stock.

In other Halliburton news, insider James S. Brown sold 15,989 shares of the stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $40.53, for a total value of $648,034.17. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.54% of the stock is owned by company insiders.

A number of research firms have weighed in on HAL. Cleveland Research cut Halliburton from a “buy” rating to a “neutral” rating in a report on Thursday, October 18th. ValuEngine upgraded Halliburton from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. HSBC decreased their price target on Halliburton to $51.00 and set a “buy” rating for the company in a report on Monday, October 8th. Credit Suisse Group set a $51.00 price target on Halliburton and gave the stock a “buy” rating in a report on Thursday, September 6th. Finally, UBS Group set a $50.00 price target on Halliburton and gave the stock a “buy” rating in a report on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $51.60.

Shares of NYSE HAL opened at $35.37 on Friday. Halliburton has a 1-year low of $33.73 and a 1-year high of $57.86. The company has a current ratio of 2.31, a quick ratio of 1.73 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $31.34 billion, a price-to-earnings ratio of 28.99, a P/E/G ratio of 0.96 and a beta of 1.07.

Halliburton (NYSE:HAL) last issued its earnings results on Monday, October 22nd. The oilfield services company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. Halliburton had a return on equity of 20.42% and a net margin of 0.70%. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same period last year, the company earned $0.42 earnings per share. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Sell-side analysts anticipate that Halliburton will post 1.86 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Thursday, December 6th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.04%. Halliburton’s dividend payout ratio is presently 59.02%.

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Halliburton Profile

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.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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