HB Wealth Management LLC Reduces Holdings in Halliburton (NYSE:HAL)

HB Wealth Management LLC lowered its position in Halliburton (NYSE:HAL) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,327 shares of the oilfield services company’s stock after selling 614 shares during the quarter. HB Wealth Management LLC’s holdings in Halliburton were worth $446,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HAL. Premier Path Wealth Partners LLC bought a new stake in shares of Halliburton during the 4th quarter worth approximately $237,000. GPS Wealth Strategies Group LLC increased its stake in Halliburton by 16.2% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 2,363 shares of the oilfield services company’s stock worth $85,000 after buying an additional 329 shares during the period. Patton Fund Management Inc. bought a new stake in Halliburton during the 4th quarter valued at about $2,415,000. Accurate Wealth Management LLC purchased a new stake in Halliburton in the 4th quarter valued at about $281,000. Finally, Merrion Investment Management Co LLC grew its stake in Halliburton by 0.7% in the 4th quarter. Merrion Investment Management Co LLC now owns 119,380 shares of the oilfield services company’s stock worth $4,316,000 after acquiring an additional 800 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on HAL. Barclays decreased their price target on shares of Halliburton from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. StockNews.com upgraded Halliburton from a “hold” rating to a “buy” rating in a research note on Friday, March 8th. Susquehanna reaffirmed a “positive” rating and issued a $49.00 price objective on shares of Halliburton in a research note on Tuesday, February 13th. Atb Cap Markets downgraded shares of Halliburton from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $45.00 price target on shares of Halliburton in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $48.63.

Halliburton Stock Up 1.4 %

Halliburton stock opened at $38.84 on Thursday. The business has a fifty day moving average price of $35.84 and a 200-day moving average price of $37.55. Halliburton has a 1-year low of $27.84 and a 1-year high of $43.85. The stock has a market capitalization of $34.57 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 0.97 and a beta of 1.99. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.06 and a quick ratio of 1.48.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, January 23rd. The oilfield services company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.78 billion. Halliburton had a return on equity of 31.59% and a net margin of 11.46%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Equities research analysts forecast that Halliburton will post 3.43 EPS for the current fiscal year.

Halliburton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were issued a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.75%. This is a boost from Halliburton’s previous quarterly dividend of $0.16. Halliburton’s dividend payout ratio (DPR) is currently 23.21%.

Insider Transactions at Halliburton

In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the completion of the sale, the chief executive officer now owns 759,015 shares of the company’s stock, valued at approximately $26,793,229.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Margaret Katherine Banks sold 5,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the sale, the director now owns 9,625 shares in the company, valued at $339,762.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Allen Miller sold 377,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the transaction, the chief executive officer now owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

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.