Allspring Global Investments Holdings LLC Lowers Stock Holdings in Halliburton Company (NYSE:HAL)

Allspring Global Investments Holdings LLC decreased its position in shares of Halliburton Company (NYSE:HAL) by 3.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,493 shares of the oilfield services company’s stock after selling 1,495 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Halliburton were worth $1,111,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Assetmark Inc. increased its holdings in shares of Halliburton by 15.2% in the fourth quarter. Assetmark Inc. now owns 63,556 shares of the oilfield services company’s stock worth $1,728,000 after buying an additional 8,392 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Halliburton in the fourth quarter worth about $4,084,000. Callan Family Office LLC purchased a new position in shares of Halliburton in the fourth quarter worth about $338,000. PNC Financial Services Group Inc. increased its holdings in shares of Halliburton by 0.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 748,039 shares of the oilfield services company’s stock worth $20,339,000 after buying an additional 5,705 shares during the period. Finally, Sowell Financial Services LLC purchased a new position in shares of Halliburton in the fourth quarter worth about $619,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. The Goldman Sachs Group decreased their price objective on Halliburton from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Stifel Nicolaus decreased their price objective on Halliburton from $37.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley cut their target price on Halliburton from $34.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. UBS Group cut their target price on Halliburton from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 2nd. Finally, Citigroup cut their target price on Halliburton from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.53.

Halliburton Stock Performance

Shares of HAL opened at $22.15 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.98 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average price is $20.85 and its 200-day moving average price is $23.68. Halliburton Company has a 52 week low of $18.72 and a 52 week high of $37.08. The stock has a market cap of $19.04 billion, a P/E ratio of 9.27, a P/E/G ratio of 3.28 and a beta of 1.13.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, April 22nd. The oilfield services company reported $0.60 EPS for the quarter, hitting analysts’ consensus estimates of $0.60. Halliburton had a return on equity of 24.01% and a net margin of 9.31%. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.28 billion. Equities research analysts anticipate that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th were issued a $0.17 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $0.68 dividend on an annualized basis and a yield of 3.07%. Halliburton’s payout ratio is currently 28.45%.

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.