Halliburton Company (HAL) Short Interest Down 15.8% in July

Halliburton Company (NYSE:HAL) was the target of a large drop in short interest during the month of July. As of July 14th, there was short interest totalling 23,551,736 shares, a drop of 15.8% from the June 30th total of 27,968,949 shares. Currently, 2.7% of the company’s shares are sold short. Based on an average trading volume of 7,623,267 shares, the days-to-cover ratio is presently 3.1 days.

In related news, Director William E. Albrecht purchased 8,000 shares of Halliburton stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average cost of $46.33 per share, for a total transaction of $370,640.00. Following the transaction, the director now directly owns 8,000 shares in the company, valued at $370,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Halliburton by 2.2% in the second quarter. Vanguard Group Inc. now owns 59,770,447 shares of the oilfield services company’s stock valued at $2,552,795,000 after buying an additional 1,267,141 shares in the last quarter. BlackRock Inc. increased its stake in shares of Halliburton by 7.6% in the second quarter. BlackRock Inc. now owns 55,790,373 shares of the oilfield services company’s stock valued at $2,382,809,000 after buying an additional 3,955,245 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Halliburton by 1.1% in the first quarter. Wellington Management Group LLP now owns 20,413,182 shares of the oilfield services company’s stock valued at $1,004,532,000 after buying an additional 227,704 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Halliburton by 107.8% in the second quarter. Ameriprise Financial Inc. now owns 15,623,103 shares of the oilfield services company’s stock valued at $667,362,000 after buying an additional 8,105,286 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Halliburton by 2.1% in the second quarter. FMR LLC now owns 15,415,634 shares of the oilfield services company’s stock valued at $658,402,000 after buying an additional 313,189 shares in the last quarter. Institutional investors own 79.67% of the company’s stock.

Shares of Halliburton (HAL) traded down 1.21% during mid-day trading on Friday, hitting $40.02. The company had a trading volume of 5,519,611 shares. The company has a 50-day moving average price of $42.63 and a 200-day moving average price of $47.79. Halliburton has a 1-year low of $40.00 and a 1-year high of $58.78. The company’s market capitalization is $34.88 billion.

Halliburton (NYSE:HAL) last issued its earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.05. The company had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.86 billion. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The firm’s quarterly revenue was up 29.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.14) EPS. On average, equities analysts anticipate that Halliburton will post $1.12 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th will be paid a $0.18 dividend. The ex-dividend date is Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.80%. Halliburton’s dividend payout ratio (DPR) is -423.50%.

HAL has been the topic of several recent research reports. HSBC Holdings plc restated a “buy” rating and set a $62.00 price target (down from $65.00) on shares of Halliburton in a research report on Thursday, June 22nd. Barclays PLC reiterated an “overweight” rating on shares of Halliburton in a report on Monday, June 26th. Guggenheim cut Halliburton from a “buy” rating to a “neutral” rating in a report on Tuesday, June 27th. Zacks Investment Research cut Halliburton from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, ValuEngine upgraded Halliburton from a “sell” rating to a “hold” rating in a report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $59.60.

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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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