SouthState Corp Sells 345 Shares of Halliburton (NYSE:HAL)

SouthState Corp lessened its stake in Halliburton (NYSE:HAL) by 9.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,239 shares of the oilfield services company’s stock after selling 345 shares during the quarter. SouthState Corp’s holdings in Halliburton were worth $109,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in HAL. 9258 Wealth Management LLC raised its position in shares of Halliburton by 14.0% in the 4th quarter. 9258 Wealth Management LLC now owns 30,879 shares of the oilfield services company’s stock valued at $1,116,000 after acquiring an additional 3,803 shares during the period. Axxcess Wealth Management LLC acquired a new stake in Halliburton in the fourth quarter worth $268,000. National Bank of Canada FI boosted its position in shares of Halliburton by 15.9% during the fourth quarter. National Bank of Canada FI now owns 241,440 shares of the oilfield services company’s stock worth $8,725,000 after purchasing an additional 33,046 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Halliburton by 6.9% in the 4th quarter. Private Advisor Group LLC now owns 47,529 shares of the oilfield services company’s stock valued at $1,718,000 after buying an additional 3,083 shares during the period. Finally, Apollon Wealth Management LLC increased its position in shares of Halliburton by 28.7% in the 4th quarter. Apollon Wealth Management LLC now owns 17,876 shares of the oilfield services company’s stock valued at $646,000 after buying an additional 3,986 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Stock Performance

Shares of NYSE HAL opened at $29.07 on Friday. The stock has a market capitalization of $25.74 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89. Halliburton has a 52 week low of $28.99 and a 52 week high of $43.85. The stock has a 50 day moving average price of $32.54 and a 200 day moving average price of $35.34. 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) last released its earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The business had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.95 billion. During the same period last year, the business earned $0.77 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. Analysts predict that Halliburton will post 3.14 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 4th. This represents a $0.68 annualized dividend and a dividend yield of 2.34%. Halliburton’s dividend payout ratio is presently 23.53%.

Insider Activity

In related news, EVP Van H. Beckwith sold 10,000 shares of Halliburton stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $36.75, for a total transaction of $367,500.00. Following the completion of the transaction, the executive vice president now owns 273,908 shares in the company, valued at $10,066,119. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

HAL has been the topic of several recent analyst reports. TD Cowen reduced their target price on Halliburton from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Johnson Rice upgraded Halliburton to a “moderate buy” rating in a report on Friday, July 19th. Citigroup lowered their target price on Halliburton from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, June 28th. StockNews.com lowered shares of Halliburton from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. Finally, Morgan Stanley lowered their price objective on shares of Halliburton from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Halliburton has an average rating of “Moderate Buy” and a consensus price target of $44.88.

About Halliburton

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.