Halliburton Company $HAL Position Cut by Birmingham Capital Management Co. Inc. AL

Birmingham Capital Management Co. Inc. AL trimmed its stake in Halliburton Company (NYSE:HAL) by 30.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 49,610 shares of the oilfield services company’s stock after selling 21,753 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in Halliburton were worth $1,011,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new stake in Halliburton in the first quarter valued at $30,000. Hexagon Capital Partners LLC raised its stake in shares of Halliburton by 87.4% during the first quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company’s stock valued at $36,000 after purchasing an additional 656 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Halliburton during the first quarter valued at about $37,000. Bartlett & CO. Wealth Management LLC raised its stake in shares of Halliburton by 109.5% during the second quarter. Bartlett & CO. Wealth Management LLC now owns 1,900 shares of the oilfield services company’s stock valued at $39,000 after purchasing an additional 993 shares in the last quarter. Finally, McIlrath & Eck LLC raised its stake in shares of Halliburton by 756.2% during the first quarter. McIlrath & Eck LLC now owns 2,132 shares of the oilfield services company’s stock valued at $54,000 after purchasing an additional 1,883 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HAL has been the topic of a number of recent analyst reports. Citigroup restated a “buy” rating on shares of Halliburton in a research note on Tuesday, October 14th. Piper Sandler cut shares of Halliburton from an “overweight” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a research note on Monday, July 28th. Royal Bank Of Canada lifted their target price on Halliburton from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Wells Fargo & Company lowered their target price on Halliburton from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. Finally, Zephirin Group lifted their target price on Halliburton from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Fourteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.26.

Halliburton Trading Up 2.0%

Shares of HAL opened at $22.25 on Monday. The business’s 50-day moving average price is $22.63 and its 200 day moving average price is $21.65. The stock has a market capitalization of $18.97 billion, a P/E ratio of 10.40 and a beta of 1.02. Halliburton Company has a 1-year low of $18.72 and a 1-year high of $32.57. The company has a current ratio of 2.00, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68.

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

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 3.1%. Halliburton’s dividend payout ratio (DPR) is currently 31.78%.

About Halliburton

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.