Eagle Ridge Investment Management Sells 27,851 Shares of Halliburton (NYSE:HAL)

Eagle Ridge Investment Management lessened its stake in shares of Halliburton (NYSE:HAL) by 10.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 229,151 shares of the oilfield services company’s stock after selling 27,851 shares during the period. Eagle Ridge Investment Management’s holdings in Halliburton were worth $5,211,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Research & Management Co. bought a new stake in Halliburton during the first quarter worth about $29,000. Barnett & Company Inc. bought a new stake in Halliburton during the first quarter worth about $29,000. Mascoma Wealth Management LLC bought a new stake in Halliburton during the first quarter worth about $30,000. Berman Capital Advisors LLC raised its holdings in Halliburton by 46.0% during the first quarter. Berman Capital Advisors LLC now owns 1,253 shares of the oilfield services company’s stock worth $36,000 after acquiring an additional 395 shares in the last quarter. Finally, Asset Planning Services Ltd. raised its holdings in Halliburton by 903.2% during the second quarter. Asset Planning Services Ltd. now owns 1,254 shares of the oilfield services company’s stock worth $29,000 after acquiring an additional 1,129 shares in the last quarter. Institutional investors and hedge funds own 78.42% of the company’s stock.

NYSE HAL traded down $0.34 during trading on Thursday, reaching $17.99. 10,605,537 shares of the company’s stock were exchanged, compared to its average volume of 14,584,238. The firm’s 50 day simple moving average is $22.12. The firm has a market capitalization of $17.00 billion, a PE ratio of 9.47, a P/E/G ratio of 2.29 and a beta of 1.30. The company has a quick ratio of 1.59, a current ratio of 2.26 and a debt-to-equity ratio of 1.16. Halliburton has a fifty-two week low of $18.12 and a fifty-two week high of $42.57.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, July 22nd. The oilfield services company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.97 billion. Halliburton had a return on equity of 13.76% and a net margin of 5.58%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 earnings per share. On average, analysts forecast that Halliburton will post 1.33 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Tuesday, September 3rd. Halliburton’s dividend payout ratio (DPR) is presently 37.89%.

HAL has been the topic of several analyst reports. UBS Group set a $36.00 target price on Halliburton and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Zacks Investment Research upgraded Halliburton from a “sell” rating to a “hold” rating and set a $20.00 target price on the stock in a report on Wednesday, July 24th. AltaCorp Capital reiterated a “sector perform” rating on shares of Halliburton in a report on Thursday, June 20th. Credit Suisse Group dropped their target price on Halliburton from $33.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, July 23rd. Finally, Seaport Global Securities set a $49.00 target price on Halliburton and gave the stock a “buy” rating in a report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company’s stock. Halliburton has a consensus rating of “Buy” and an average price target of $39.78.

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.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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