Renaissance Investment Group LLC Has $3.75 Million Stock Holdings in Halliburton (NYSE:HAL)

Renaissance Investment Group LLC reduced its holdings in shares of Halliburton (NYSE:HAL) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 138,062 shares of the oilfield services company’s stock after selling 4,517 shares during the period. Renaissance Investment Group LLC’s holdings in Halliburton were worth $3,754,000 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. Country Trust Bank acquired a new stake in Halliburton during the third quarter valued at approximately $36,000. Continuum Advisory LLC boosted its stake in Halliburton by 101.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock valued at $42,000 after buying an additional 698 shares in the last quarter. Modus Advisors LLC bought a new stake in Halliburton in the fourth quarter valued at $38,000. ORG Wealth Partners LLC acquired a new position in Halliburton during the third quarter worth $44,000. Finally, Mattson Financial Services LLC bought a new position in shares of Halliburton during the second quarter valued at $54,000. Institutional investors own 85.23% of the company’s stock.

Halliburton Trading Up 2.3 %

NYSE HAL opened at $29.96 on Friday. The company has a current ratio of 2.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.74. Halliburton has a 12 month low of $25.51 and a 12 month high of $41.56. The company has a market capitalization of $26.32 billion, a PE ratio of 10.44, a P/E/G ratio of 3.36 and a beta of 1.91. The stock has a 50-day simple moving average of $28.94 and a 200 day simple moving average of $30.16.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share 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 firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.83 billion. During the same quarter in the prior year, the business earned $0.79 earnings per share. The business’s revenue was down 1.8% on a year-over-year basis. Research analysts forecast that Halliburton will post 2.99 EPS for the current year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Investors of record on Wednesday, December 4th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Wednesday, December 4th. Halliburton’s dividend payout ratio is currently 23.69%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HAL. Stifel Nicolaus dropped their target price on shares of Halliburton from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Jefferies Financial Group cut their target price on shares of Halliburton from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Barclays restated an “equal weight” rating and set a $33.00 price target (down from $43.00) on shares of Halliburton in a research report on Wednesday, December 18th. Morgan Stanley reduced their price objective on Halliburton from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Finally, Benchmark restated a “buy” rating and issued a $40.00 target price on shares of Halliburton in a research note on Friday, November 8th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.26.

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.