Principal Financial Group Inc. Boosts Position in Halliburton (NYSE:HAL)

Principal Financial Group Inc. grew its holdings in Halliburton (NYSE:HAL - Free Report) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,889,257 shares of the oilfield services company's stock after acquiring an additional 63,994 shares during the period. Principal Financial Group Inc. owned about 0.33% of Halliburton worth $83,933,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its stake in Halliburton by 2.1% during the second quarter. First Horizon Advisors Inc. now owns 14,027 shares of the oilfield services company's stock valued at $474,000 after acquiring an additional 295 shares in the last quarter. Beacon Capital Management LLC grew its position in shares of Halliburton by 28.8% during the first quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company's stock valued at $54,000 after purchasing an additional 309 shares in the last quarter. Guinness Atkinson Asset Management Inc lifted its position in shares of Halliburton by 3.1% in the second quarter. Guinness Atkinson Asset Management Inc now owns 10,847 shares of the oilfield services company's stock worth $366,000 after buying an additional 330 shares in the last quarter. Moody National Bank Trust Division boosted its stake in Halliburton by 2.9% during the second quarter. Moody National Bank Trust Division now owns 11,842 shares of the oilfield services company's stock valued at $400,000 after buying an additional 336 shares during the last quarter. Finally, Northwest Bank & Trust Co boosted its stake in Halliburton by 3.2% during the third quarter. Northwest Bank & Trust Co now owns 12,979 shares of the oilfield services company's stock valued at $377,000 after buying an additional 397 shares during the last quarter. Institutional investors own 85.23% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on HAL shares. Piper Sandler decreased their price objective on Halliburton from $46.00 to $40.00 and set an "overweight" rating on the stock in a report on Monday, July 22nd. Susquehanna lowered their price objective on shares of Halliburton from $42.00 to $40.00 and set a "positive" rating for the company in a research report on Friday. Jefferies Financial Group reduced their target price on shares of Halliburton from $47.00 to $46.00 and set a "buy" rating on the stock in a report on Tuesday, September 24th. Barclays lowered their price target on shares of Halliburton from $47.00 to $43.00 and set an "overweight" rating for the company in a report on Friday. Finally, TD Cowen dropped their price target on Halliburton from $47.00 to $45.00 and set a "buy" rating for the company in a research report on Monday, July 22nd. Four investment 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $40.79.

Halliburton Stock Down 1.1 %

NYSE HAL traded down $0.32 on Friday, reaching $29.23. 9,742,008 shares of the stock traded hands, compared to its average volume of 8,816,506. Halliburton has a 12 month low of $27.26 and a 12 month high of $41.56. The company has a market cap of $25.81 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 2.01 and a beta of 1.89. The company has a fifty day moving average price of $29.10 and a 200-day moving average price of $32.49. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13.

Halliburton (NYSE:HAL - Get Free Report) last announced its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.02). Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. During the same period last year, the business posted $0.79 EPS. The firm's revenue was down 1.8% compared to the same quarter last year. As a group, research analysts forecast that Halliburton will post 3.12 EPS for the current fiscal year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders 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 2.33%. The ex-dividend date of this dividend was Wednesday, September 4th. Halliburton's dividend payout ratio (DPR) is presently 23.69%.

Halliburton 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.