Federated Hermes Inc. Cuts Stake in Halliburton (NYSE:HAL)

Federated Hermes Inc. lessened its holdings in shares of Halliburton (NYSE:HAL) by 88.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,620 shares of the oilfield services company’s stock after selling 304,577 shares during the period. Federated Hermes Inc.’s holdings in Halliburton were worth $1,468,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sourcerock Group LLC raised its stake in Halliburton by 237.6% in the third quarter. Sourcerock Group LLC now owns 1,677,194 shares of the oilfield services company’s stock valued at $67,926,000 after buying an additional 1,180,406 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of Halliburton by 1,507.6% during the third quarter. Schonfeld Strategic Advisors LLC now owns 852,357 shares of the oilfield services company’s stock valued at $34,520,000 after acquiring an additional 799,337 shares in the last quarter. Barclays PLC boosted its stake in Halliburton by 32.7% in the 3rd quarter. Barclays PLC now owns 2,339,859 shares of the oilfield services company’s stock worth $94,766,000 after purchasing an additional 575,933 shares in the last quarter. Nordea Investment Management AB grew its position in Halliburton by 271.0% during the 4th quarter. Nordea Investment Management AB now owns 768,057 shares of the oilfield services company’s stock worth $27,781,000 after purchasing an additional 561,020 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Halliburton by 5.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,871,178 shares of the oilfield services company’s stock valued at $359,283,000 after purchasing an additional 448,548 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Trading Up 0.9 %

Shares of Halliburton stock opened at $38.89 on Tuesday. Halliburton has a fifty-two week low of $27.84 and a fifty-two week high of $43.85. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.52 and a current ratio of 2.12. The company has a market cap of $34.42 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 0.99 and a beta of 2.00. The firm has a 50-day simple moving average of $37.95 and a two-hundred day simple moving average of $37.31.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.67 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. Halliburton’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts predict that Halliburton will post 3.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Halliburton from $46.00 to $48.00 in a report on Tuesday, April 23rd. Benchmark reissued a “buy” rating and issued a $45.00 price objective on shares of Halliburton in a report on Wednesday, April 24th. Wells Fargo & Company decreased their target price on Halliburton from $50.00 to $49.00 and set an “overweight” rating for the company in a report on Monday. TD Cowen upped their target price on Halliburton from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, StockNews.com lowered shares of Halliburton from a “buy” rating to a “hold” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.65.

Insider Activity

In related news, Director Margaret Katherine Banks sold 5,000 shares of the business’s 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 completion of the sale, the director now owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Margaret Katherine Banks sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the transaction, the director now directly owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Allen Miller sold 377,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $35.30, for a total value of $13,308,100.00. Following the sale, 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 0.61% of the company’s stock.

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.