GDS Wealth Management Lowers Stock Position in Halliburton Company $HAL

GDS Wealth Management cut its holdings in shares of Halliburton Company (NYSE:HAL) by 3.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 96,351 shares of the oilfield services company’s stock after selling 3,086 shares during the period. GDS Wealth Management’s holdings in Halliburton were worth $1,964,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Private Advisor Group LLC increased its holdings in shares of Halliburton by 35.0% in the 1st quarter. Private Advisor Group LLC now owns 51,749 shares of the oilfield services company’s stock valued at $1,313,000 after acquiring an additional 13,409 shares during the period. IFP Advisors Inc lifted its stake in shares of Halliburton by 15.8% during the 1st quarter. IFP Advisors Inc now owns 21,565 shares of the oilfield services company’s stock worth $547,000 after purchasing an additional 2,947 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in Halliburton by 3.7% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 67,710 shares of the oilfield services company’s stock valued at $1,718,000 after purchasing an additional 2,388 shares in the last quarter. KLP Kapitalforvaltning AS raised its holdings in Halliburton by 1.1% in the first quarter. KLP Kapitalforvaltning AS now owns 354,243 shares of the oilfield services company’s stock worth $8,987,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Readystate Asset Management LP lifted its position in Halliburton by 26.2% during the first quarter. Readystate Asset Management LP now owns 25,283 shares of the oilfield services company’s stock valued at $641,000 after acquiring an additional 5,246 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Insider Activity

In related news, insider Mark Richard sold 160,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $27.77, for a total value of $4,443,200.00. Following the completion of the transaction, the insider owned 452,374 shares of the company’s stock, valued at approximately $12,562,425.98. This represents a 26.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

HAL has been the subject of several research analyst reports. UBS Group increased their price objective on shares of Halliburton from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Melius initiated coverage on shares of Halliburton in a report on Wednesday, August 20th. They issued a “buy” rating and a $41.00 price target for the company. Barclays boosted their price objective on shares of Halliburton from $20.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. HSBC set a $30.00 target price on Halliburton and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Finally, BMO Capital Markets lifted their price target on Halliburton from $28.00 to $31.00 in a research report on Tuesday, November 11th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.55.

Halliburton Stock Down 1.2%

Shares of HAL opened at $26.48 on Thursday. The company has a market capitalization of $22.28 billion, a price-to-earnings ratio of 17.53 and a beta of 1.03. Halliburton Company has a 52 week low of $18.72 and a 52 week high of $32.57. The stock’s 50-day moving average price is $24.91 and its 200-day moving average price is $22.61. The company has a quick ratio of 1.43, a current ratio of 1.95 and a debt-to-equity ratio of 0.70.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, October 21st. The oilfield services company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.39 billion. Halliburton had a return on equity of 20.12% and a net margin of 5.91%.Halliburton’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 earnings per share. On average, sell-side analysts predict that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, December 3rd. Halliburton’s dividend payout ratio (DPR) is currently 45.03%.

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.