Halliburton Company (HAL) Short Interest Down 20.6% in October

Halliburton Company (NYSE:HAL) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 22,493,194 shares, a decline of 20.6% from the October 13th total of 28,337,831 shares. Based on an average daily volume of 9,117,866 shares, the days-to-cover ratio is currently 2.5 days. Approximately 2.6% of the company’s stock are short sold.

In other news, EVP Lawrence J. Pope sold 43,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total transaction of $1,705,380.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman David J. Lesar sold 50,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $43.70, for a total transaction of $2,185,000.00. Following the transaction, the chairman now owns 490,143 shares in the company, valued at approximately $21,419,249.10. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Cleararc Capital Inc. lifted its stake in Halliburton by 0.8% during the first quarter. Cleararc Capital Inc. now owns 21,182 shares of the oilfield services company’s stock worth $1,042,000 after purchasing an additional 176 shares during the last quarter. Mitchell Group Inc. lifted its stake in Halliburton by 7.3% during the first quarter. Mitchell Group Inc. now owns 532,890 shares of the oilfield services company’s stock worth $26,224,000 after purchasing an additional 36,430 shares during the last quarter. Foresters Investment Management Company Inc. lifted its stake in Halliburton by 39.2% during the first quarter. Foresters Investment Management Company Inc. now owns 57,204 shares of the oilfield services company’s stock worth $2,815,000 after purchasing an additional 16,104 shares during the last quarter. Global X Management Co. LLC lifted its stake in Halliburton by 28.8% during the first quarter. Global X Management Co. LLC now owns 8,212 shares of the oilfield services company’s stock worth $404,000 after purchasing an additional 1,836 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Halliburton during the first quarter worth approximately $719,000. Institutional investors and hedge funds own 78.61% of the company’s stock.

HAL has been the topic of several recent analyst reports. Scotiabank set a $52.00 price objective on shares of Halliburton and gave the company a “buy” rating in a report on Tuesday, July 25th. UBS AG restated a “buy” rating and set a $62.00 price objective (down previously from $70.00) on shares of Halliburton in a report on Tuesday, July 25th. Jefferies Group LLC set a $56.00 price objective on shares of Halliburton and gave the company a “buy” rating in a report on Monday, August 28th. Citigroup Inc. upped their price objective on shares of Halliburton from $52.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Finally, Deutsche Bank AG initiated coverage on shares of Halliburton in a report on Tuesday, October 10th. They set a “buy” rating and a $54.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $57.55.

Halliburton (NYSE:HAL) opened at $41.77 on Monday. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.20 and a quick ratio of 1.67. The stock has a market capitalization of $36,446.04, a PE ratio of 57.22, a PEG ratio of 4.51 and a beta of 1.05. Halliburton has a 52 week low of $38.18 and a 52 week high of $58.78.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Monday, October 23rd. The oilfield services company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. The business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Halliburton had a return on equity of 6.93% and a net margin of 1.13%. The business’s quarterly revenue was up 42.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 EPS. sell-side analysts expect that Halliburton will post 1.16 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Wednesday, December 6th. Halliburton’s payout ratio is presently 300.01%.

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About Halliburton

Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.

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