TD Asset Management Inc Lowers Stock Position in Halliburton Company $HAL

TD Asset Management Inc reduced its stake in shares of Halliburton Company (NYSE:HAL) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 387,324 shares of the oilfield services company’s stock after selling 6,145 shares during the period. TD Asset Management Inc’s holdings in Halliburton were worth $7,894,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Halliburton by 450.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company’s stock valued at $759,623,000 after buying an additional 24,506,472 shares in the last quarter. Invesco Ltd. boosted its stake in Halliburton by 7.3% in the 1st quarter. Invesco Ltd. now owns 10,813,905 shares of the oilfield services company’s stock worth $274,349,000 after purchasing an additional 731,105 shares during the period. LSV Asset Management boosted its stake in Halliburton by 3.3% in the 1st quarter. LSV Asset Management now owns 6,113,044 shares of the oilfield services company’s stock worth $155,088,000 after purchasing an additional 193,022 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Halliburton by 5.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,279,815 shares of the oilfield services company’s stock worth $133,949,000 after purchasing an additional 282,492 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Halliburton by 217.4% in the 1st quarter. AQR Capital Management LLC now owns 4,641,111 shares of the oilfield services company’s stock worth $116,770,000 after purchasing an additional 3,178,746 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Stock Performance

Shares of Halliburton stock opened at $22.25 on Monday. The stock’s fifty day moving average is $22.63 and its two-hundred day moving average is $21.65. The company has a market capitalization of $18.97 billion, a PE ratio of 10.40 and a beta of 1.02. The company has a quick ratio of 1.47, a current ratio of 2.00 and a debt-to-equity ratio of 0.68. Halliburton Company has a 52 week low of $18.72 and a 52 week high of $32.57.

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

Halliburton Announces Dividend

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

Analyst Ratings Changes

HAL has been the subject of several recent analyst reports. Royal Bank Of Canada upped their price target on Halliburton from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Piper Sandler downgraded Halliburton from an “overweight” rating to a “neutral” rating and set a $25.00 target price on the stock. in a research report on Monday, July 28th. The Goldman Sachs Group increased their price target on Halliburton from $23.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Bank of America increased their price target on Halliburton from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Finally, Barclays decreased their price target on Halliburton from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Fourteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Halliburton has an average rating of “Moderate Buy” and a consensus target price of $30.26.

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.