Public Employees Retirement System of Ohio Trims Holdings in Halliburton (NYSE:HAL)
Public Employees Retirement System of Ohio decreased its holdings in shares of Halliburton (NYSE:HAL) by 61.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 299,541 shares of the oilfield services company’s stock after selling 486,331 shares during the period. Public Employees Retirement System of Ohio’s holdings in Halliburton were worth $6,812,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sanders Capital LLC increased its stake in shares of Halliburton by 3.3% during the second quarter. Sanders Capital LLC now owns 23,928,402 shares of the oilfield services company’s stock valued at $600,813,000 after buying an additional 773,300 shares during the period. Pzena Investment Management LLC increased its position in Halliburton by 89.8% during the 2nd quarter. Pzena Investment Management LLC now owns 23,591,540 shares of the oilfield services company’s stock valued at $536,472,000 after purchasing an additional 11,163,777 shares during the period. Northern Trust Corp raised its holdings in Halliburton by 1.6% in the 1st quarter. Northern Trust Corp now owns 10,447,500 shares of the oilfield services company’s stock worth $306,111,000 after purchasing an additional 165,021 shares in the last quarter. Geode Capital Management LLC raised its holdings in Halliburton by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 9,955,241 shares of the oilfield services company’s stock worth $264,077,000 after purchasing an additional 683,635 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Halliburton by 25.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 5,366,928 shares of the oilfield services company’s stock worth $122,029,000 after purchasing an additional 1,105,359 shares during the period. 77.70% of the stock is owned by institutional investors and hedge funds.
Shares of HAL traded down $0.10 during mid-day trading on Wednesday, reaching $19.93. The company had a trading volume of 476,796 shares, compared to its average volume of 12,608,610. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.59 and a current ratio of 2.26. The firm has a 50-day moving average price of $19.84 and a 200 day moving average price of $24.71. Halliburton has a 52 week low of $16.97 and a 52 week high of $42.57. The company has a market capitalization of $17.37 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 2.36 and a beta of 1.37.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be paid a $0.18 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.61%. Halliburton’s dividend payout ratio is currently 37.89%.
A number of brokerages have recently weighed in on HAL. AltaCorp Capital reaffirmed a “sector perform” rating on shares of Halliburton in a research note on Thursday, June 20th. Morgan Stanley decreased their price target on shares of Halliburton from $40.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Bank of America lowered their price objective on shares of Halliburton from $24.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Citigroup cut their price objective on Halliburton from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Finally, Edward Jones cut Halliburton from a “buy” rating to a “hold” rating in a research report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company. Halliburton presently has an average rating of “Buy” and a consensus target price of $39.26.
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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