Gradient Investments LLC Cuts Stock Position in Halliburton (NYSE:HAL)

Gradient Investments LLC decreased its holdings in shares of Halliburton (NYSE:HAL) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,178 shares of the oilfield services company’s stock after selling 480 shares during the quarter. Gradient Investments LLC’s holdings in Halliburton were worth $413,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Country Trust Bank purchased a new stake in shares of Halliburton during the 3rd quarter valued at about $36,000. Modus Advisors LLC bought a new stake in Halliburton during the fourth quarter worth approximately $38,000. Continuum Advisory LLC raised its position in Halliburton by 101.2% during the third quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock valued at $42,000 after purchasing an additional 698 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Halliburton in the 3rd quarter valued at approximately $44,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Halliburton by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after purchasing an additional 412 shares during the period. Institutional investors own 85.23% of the company’s stock.

Halliburton Stock Performance

Shares of HAL stock opened at $27.83 on Friday. The firm has a market cap of $24.45 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 3.58 and a beta of 1.91. Halliburton has a 52-week low of $25.51 and a 52-week high of $41.56. The company has a quick ratio of 1.62, a current ratio of 2.05 and a debt-to-equity ratio of 0.68. The company’s 50 day moving average is $28.81 and its 200 day moving average is $29.99.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). Halliburton had a return on equity of 26.03% and a net margin of 10.90%. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. During the same period in the previous year, the firm posted $0.79 earnings per share. The company’s revenue was down 1.8% on a year-over-year basis. On average, sell-side analysts anticipate that Halliburton will post 2.94 EPS for the current fiscal year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Wednesday, December 4th. Halliburton’s dividend payout ratio is currently 24.03%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Piper Sandler initiated coverage on Halliburton in a research report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price target for the company. Benchmark lowered their target price on shares of Halliburton from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday. Stifel Nicolaus cut their price target on shares of Halliburton from $42.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday. Bank of America decreased their price objective on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Wells Fargo & Company cut their target price on Halliburton from $39.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.42.

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.