Fulcrum Asset Management LLP trimmed its holdings in Halliburton Company (NYSE:HAL – Free Report) by 74.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 34,458 shares of the oilfield services company’s stock after selling 98,883 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Halliburton were worth $1,087,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in Halliburton by 854.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 561,338 shares of the oilfield services company’s stock valued at $17,895,000 after acquiring an additional 502,516 shares during the last quarter. Missouri Trust & Investment Co boosted its holdings in shares of Halliburton by 1.6% during the 3rd quarter. Missouri Trust & Investment Co now owns 48,550 shares of the oilfield services company’s stock worth $1,544,000 after purchasing an additional 750 shares during the last quarter. Ethic Inc. boosted its holdings in shares of Halliburton by 5.9% during the 3rd quarter. Ethic Inc. now owns 438,479 shares of the oilfield services company’s stock worth $13,944,000 after purchasing an additional 24,588 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Halliburton by 6.6% during the 3rd quarter. Pictet Asset Management Holding SA now owns 440,080 shares of the oilfield services company’s stock worth $13,995,000 after purchasing an additional 27,427 shares during the last quarter. Finally, Guidance Capital Inc. grew its position in shares of Halliburton by 7.7% in the third quarter. Guidance Capital Inc. now owns 32,356 shares of the oilfield services company’s stock valued at $1,120,000 after purchasing an additional 2,317 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Halliburton news, COO Jeffrey Slocum sold 52,572 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the completion of the sale, the chief operating officer owned 118,730 shares of the company’s stock, valued at $4,166,235.70. This trade represents a 30.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.57% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently commented on HAL. Morgan Stanley cut their price target on Halliburton from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Evercore reiterated an “outperform” rating and set a $43.00 price objective on shares of Halliburton in a research report on Wednesday, July 22nd. Royal Bank Of Canada boosted their price objective on Halliburton from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. Piper Sandler dropped their target price on Halliburton from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Finally, Wall Street Zen downgraded Halliburton from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Eighteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.86.
Check Out Our Latest Report on Halliburton
Halliburton Stock Performance
NYSE:HAL opened at $32.94 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.02 and a quick ratio of 1.48. The firm has a market capitalization of $27.24 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.85 and a beta of 0.76. The company’s 50-day moving average is $33.84 and its two-hundred day moving average is $35.74. Halliburton Company has a 1-year low of $24.92 and a 1-year high of $43.59.
Halliburton (NYSE:HAL – Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The oilfield services company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.58 billion. Halliburton had a net margin of 8.90% and a return on equity of 18.36%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.58 EPS. Analysts forecast that Halliburton Company will post 2.33 EPS for the current year.
Halliburton Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Wednesday, December 2nd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, December 2nd. Halliburton’s dividend payout ratio is presently 28.45%.
About Halliburton
Halliburton Company (NYSE: HAL) is a global provider of products and services for the energy industry. The company supports the exploration, development, and production of oil and natural gas through technologies and services used throughout the life cycle of a well. Halliburton operates through two primary business segments: Completion and Production, and Drilling and Evaluation. Its offerings include cementing, stimulation, well completion, production enhancement, drilling services, drilling fluids, well testing, wireline and perforating services, formation evaluation, and project management.
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