DAVENPORT & Co LLC Lowers Stock Holdings in Halliburton Company $HAL

DAVENPORT & Co LLC lowered its stake in shares of Halliburton Company (NYSE:HAL) by 8.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,329 shares of the oilfield services company’s stock after selling 1,264 shares during the quarter. DAVENPORT & Co LLC’s holdings in Halliburton were worth $292,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Stone House Investment Management LLC acquired a new position in Halliburton during the 1st quarter worth approximately $30,000. Hexagon Capital Partners LLC lifted its stake in shares of Halliburton by 87.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company’s stock worth $36,000 after purchasing an additional 656 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Halliburton during the 1st quarter worth $37,000. Bartlett & CO. Wealth Management LLC raised its position in shares of Halliburton by 109.5% in the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 1,900 shares of the oilfield services company’s stock worth $39,000 after buying an additional 993 shares during the period. Finally, McIlrath & Eck LLC raised its position in shares of Halliburton by 756.2% in the 1st quarter. McIlrath & Eck LLC now owns 2,132 shares of the oilfield services company’s stock worth $54,000 after buying an additional 1,883 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Stock Up 2.5%

NYSE:HAL opened at $22.51 on Tuesday. The company has a market capitalization of $19.19 billion, a price-to-earnings ratio of 10.52 and a beta of 1.02. Halliburton Company has a one year low of $18.72 and a one year high of $32.57. The stock has a 50-day simple moving average of $22.55 and a 200 day simple moving average of $21.72. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 2.00.

Halliburton (NYSE:HAL) last issued its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.The company had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the previous year, the firm posted $0.80 earnings per share. Halliburton’s quarterly revenue was down 5.5% compared to the same quarter last year. Sell-side analysts predict that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Wednesday, September 3rd. Halliburton’s payout ratio is presently 31.78%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Melius assumed coverage on Halliburton in a research report on Wednesday, August 20th. They issued a “buy” rating and a $41.00 price objective on the stock. Barclays cut their price objective on Halliburton from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 23rd. Piper Sandler lowered Halliburton from an “overweight” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a research report on Monday, July 28th. Royal Bank Of Canada raised their price objective on Halliburton from $24.00 to $26.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Finally, UBS Group upped their price objective on shares of Halliburton from $21.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Thirteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Halliburton presently has an average rating of “Moderate Buy” and an average price target of $30.72.

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.