Halliburton (NYSE:HAL) Position Trimmed by GDS Wealth Management

GDS Wealth Management lowered its stake in Halliburton (NYSE:HAL - Free Report) by 63.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 113,386 shares of the oilfield services company's stock after selling 195,761 shares during the period. GDS Wealth Management's holdings in Halliburton were worth $3,294,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Country Trust Bank bought a new position in shares of Halliburton in the 3rd quarter worth about $36,000. Bruce G. Allen Investments LLC boosted its stake in Halliburton by 274.9% in the second quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company's stock valued at $38,000 after acquiring an additional 822 shares during the period. ORG Wealth Partners LLC bought a new position in shares of Halliburton during the third quarter valued at approximately $44,000. Crewe Advisors LLC acquired a new stake in shares of Halliburton during the 1st quarter worth approximately $46,000. Finally, Beacon Capital Management LLC lifted its holdings in shares of Halliburton by 28.8% in the 1st quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company's stock worth $54,000 after purchasing an additional 309 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Susquehanna lowered their price objective on Halliburton from $42.00 to $40.00 and set a "positive" rating for the company in a research note on Friday. Piper Sandler lowered their price target on shares of Halliburton from $46.00 to $40.00 and set an "overweight" rating for the company in a research report on Monday, July 22nd. Barclays cut their price objective on shares of Halliburton from $47.00 to $43.00 and set an "overweight" rating on the stock in a research report on Friday. Dbs Bank began coverage on shares of Halliburton in a research report on Wednesday, September 18th. They issued a "buy" rating and a $45.00 target price for the company. Finally, Benchmark restated a "buy" rating and issued a $40.00 price target on shares of Halliburton in a research note on Friday. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.79.

Halliburton Price Performance

NYSE:HAL traded up $0.95 during trading hours on Monday, reaching $30.18. 6,089,778 shares of the company's stock were exchanged, compared to its average volume of 8,038,517. The company has a market capitalization of $26.64 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 1.93 and a beta of 1.89. Halliburton has a 12 month low of $27.26 and a 12 month high of $41.56. The business's 50-day simple moving average is $29.10 and its two-hundred day simple moving average is $32.45. The company has a quick ratio of 1.54, a current ratio of 2.21 and a debt-to-equity ratio of 0.74.

Halliburton (NYSE:HAL - Get Free Report) last issued its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.02). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.83 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The business's revenue was down 1.8% compared to the same quarter last year. Sell-side analysts expect that Halliburton will post 3.09 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Wednesday, September 4th. Halliburton's dividend payout ratio is 23.69%.

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.