Mackenzie Financial Corp Cuts Stake in Halliburton (NYSE:HAL)

Mackenzie Financial Corp trimmed its position in shares of Halliburton (NYSE:HAL) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,368 shares of the oilfield services company’s stock after selling 2,907 shares during the quarter. Mackenzie Financial Corp’s holdings in Halliburton were worth $3,086,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sourcerock Group LLC raised its holdings in Halliburton by 237.6% during the third quarter. Sourcerock Group LLC now owns 1,677,194 shares of the oilfield services company’s stock worth $67,926,000 after purchasing an additional 1,180,406 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in shares of Halliburton by 1,507.6% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 852,357 shares of the oilfield services company’s stock worth $34,520,000 after buying an additional 799,337 shares during the last quarter. Barclays PLC boosted its position in shares of Halliburton by 32.7% in the 3rd quarter. Barclays PLC now owns 2,339,859 shares of the oilfield services company’s stock worth $94,766,000 after buying an additional 575,933 shares in the last quarter. Nordea Investment Management AB grew its stake in Halliburton by 271.0% in the 4th quarter. Nordea Investment Management AB now owns 768,057 shares of the oilfield services company’s stock valued at $27,781,000 after acquiring an additional 561,020 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Halliburton by 5.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,871,178 shares of the oilfield services company’s stock valued at $359,283,000 after acquiring an additional 448,548 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Susquehanna reaffirmed a “positive” rating and issued a $49.00 price target on shares of Halliburton in a report on Monday, April 8th. TD Cowen increased their target price on Halliburton from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Raymond James decreased their price objective on Halliburton from $49.00 to $47.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. UBS Group boosted their target price on shares of Halliburton from $44.00 to $48.00 in a research note on Monday, January 22nd. Finally, Barclays decreased their price target on shares of Halliburton from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $48.53.

Halliburton Price Performance

HAL opened at $38.70 on Tuesday. The company has a 50 day moving average of $37.57 and a two-hundred day moving average of $37.39. Halliburton has a 52-week low of $27.84 and a 52-week high of $43.85. The company has a quick ratio of 1.48, a current ratio of 2.06 and a debt-to-equity ratio of 0.81. The company has a market cap of $34.30 billion, a P/E ratio of 13.21, a P/E/G ratio of 1.00 and a beta of 2.00.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, January 23rd. The oilfield services company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.78 billion. Halliburton had a return on equity of 31.59% and a net margin of 11.46%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 EPS. On average, analysts expect that Halliburton will post 3.42 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Margaret Katherine Banks sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the completion of the transaction, the director now directly owns 9,625 shares in the company, valued at $339,762.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $35.30, for a total value of $13,308,100.00. Following the transaction, the chief executive officer now directly owns 759,015 shares of the company’s stock, valued at approximately $26,793,229.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Margaret Katherine Banks sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total transaction of $176,500.00. Following the sale, the director now directly owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

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.