OFI Invest Asset Management Reduces Holdings in Halliburton Company $HAL

OFI Invest Asset Management trimmed its holdings in shares of Halliburton Company (NYSE:HAL) by 7.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,260 shares of the oilfield services company’s stock after selling 2,598 shares during the period. OFI Invest Asset Management’s holdings in Halliburton were worth $657,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cerro Pacific Wealth Advisors LLC boosted its holdings in shares of Halliburton by 4.3% in the 2nd quarter. Cerro Pacific Wealth Advisors LLC now owns 13,590 shares of the oilfield services company’s stock valued at $277,000 after purchasing an additional 559 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of Halliburton by 8.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 6,870 shares of the oilfield services company’s stock valued at $174,000 after purchasing an additional 562 shares during the last quarter. Mediolanum International Funds Ltd lifted its holdings in shares of Halliburton by 0.8% during the 1st quarter. Mediolanum International Funds Ltd now owns 72,381 shares of the oilfield services company’s stock valued at $1,815,000 after acquiring an additional 584 shares in the last quarter. Hills Bank & Trust Co boosted its position in Halliburton by 1.6% during the 1st quarter. Hills Bank & Trust Co now owns 38,733 shares of the oilfield services company’s stock worth $983,000 after purchasing an additional 595 shares during the period. Finally, AE Wealth Management LLC increased its holdings in Halliburton by 5.1% in the 1st quarter. AE Wealth Management LLC now owns 12,469 shares of the oilfield services company’s stock valued at $316,000 after purchasing an additional 605 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on HAL shares. Wells Fargo & Company reduced their price objective on Halliburton from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. The Goldman Sachs Group boosted their price objective on Halliburton from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Susquehanna reduced their price objective on Halliburton from $30.00 to $27.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Stifel Nicolaus reduced their price objective on Halliburton from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Finally, Barclays reduced their price objective on Halliburton from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 23rd. Fourteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.11.

Halliburton Stock Performance

Halliburton stock opened at $22.01 on Monday. Halliburton Company has a 12-month low of $18.72 and a 12-month high of $32.57. The company has a market capitalization of $18.76 billion, a price-to-earnings ratio of 10.28 and a beta of 1.02. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.00 and a quick ratio of 1.47. The firm’s fifty day moving average price is $22.53 and its 200 day moving average price is $21.74.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. The firm had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.43 billion. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. On average, research analysts forecast that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 3.1%. Halliburton’s payout ratio is presently 31.78%.

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.