Wedge Capital Management L L P NC Reduces Holdings in Halliburton (NYSE:HAL)

Wedge Capital Management L L P NC decreased its position in shares of Halliburton (NYSE:HAL - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 700,963 shares of the oilfield services company's stock after selling 15,397 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.08% of Halliburton worth $19,059,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in HAL. Cary Street Partners Asset Management LLC boosted its stake in Halliburton by 56.5% during the 3rd quarter. Cary Street Partners Asset Management LLC now owns 157,085 shares of the oilfield services company's stock worth $4,563,000 after purchasing an additional 56,707 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Halliburton by 146.0% during the second quarter. Canada Pension Plan Investment Board now owns 842,355 shares of the oilfield services company's stock worth $28,455,000 after buying an additional 500,000 shares during the period. Mackenzie Financial Corp increased its position in Halliburton by 105.2% in the 2nd quarter. Mackenzie Financial Corp now owns 186,961 shares of the oilfield services company's stock valued at $6,316,000 after acquiring an additional 95,864 shares during the period. Pacer Advisors Inc. lifted its position in Halliburton by 23.1% during the 3rd quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company's stock worth $487,522,000 after acquiring an additional 3,150,986 shares during the period. Finally, Quest Partners LLC increased its holdings in shares of Halliburton by 2,418.9% in the third quarter. Quest Partners LLC now owns 78,387 shares of the oilfield services company's stock valued at $2,277,000 after purchasing an additional 75,275 shares during the period. Institutional investors and hedge funds own 85.23% of the company's stock.

Halliburton Trading Up 2.3 %

Shares of NYSE:HAL traded up $0.69 during midday trading on Friday, reaching $29.96. The company's stock had a trading volume of 14,132,064 shares, compared to its average volume of 7,861,310. The business has a 50 day moving average price of $28.94 and a 200 day moving average price of $30.16. Halliburton has a 1 year low of $25.51 and a 1 year high of $41.56. The firm has a market cap of $26.32 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 3.36 and a beta of 1.91. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74.

Halliburton (NYSE:HAL - Get Free Report) last announced its quarterly earnings data 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 11.04% and a return on equity of 28.33%. The company had revenue of $5.70 billion for the quarter, compared to analysts' expectations of $5.83 billion. During the same period in the prior year, the firm earned $0.79 earnings per share. The firm's quarterly revenue was down 1.8% on a year-over-year basis. Research analysts forecast that Halliburton will post 2.99 EPS for the current year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Wednesday, December 4th. Halliburton's payout ratio is currently 23.69%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Bank of America lowered their price objective on shares of Halliburton from $40.00 to $38.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Morgan Stanley dropped their price target on shares of Halliburton from $35.00 to $34.00 and set an "overweight" rating on the stock in a research note on Monday, November 18th. Barclays reissued an "equal weight" rating and set a $33.00 price target (down from $43.00) on shares of Halliburton in a report on Wednesday, December 18th. Piper Sandler assumed coverage on Halliburton in a research report on Thursday, December 19th. They set an "overweight" rating and a $36.00 target price on the stock. Finally, Wells Fargo & Company decreased their price target on Halliburton from $39.00 to $34.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $38.26.

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.