Halliburton Company $HAL Stock Position Lowered by Birmingham Capital Management Co. Inc. AL

Birmingham Capital Management Co. Inc. AL decreased its position in Halliburton Company (NYSE:HAL) by 57.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,260 shares of the oilfield services company’s stock after selling 28,350 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in Halliburton were worth $523,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of Halliburton by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 5,929,285 shares of the oilfield services company’s stock valued at $145,860,000 after purchasing an additional 96,394 shares in the last quarter. Ritholtz Wealth Management acquired a new position in Halliburton during the third quarter valued at $1,775,000. Commerzbank Aktiengesellschaft FI purchased a new stake in Halliburton in the 2nd quarter worth about $2,595,000. Tejara Capital Ltd boosted its position in Halliburton by 98.8% during the 3rd quarter. Tejara Capital Ltd now owns 134,365 shares of the oilfield services company’s stock worth $3,305,000 after acquiring an additional 66,765 shares during the period. Finally, New York State Common Retirement Fund grew its stake in Halliburton by 12.8% during the 3rd quarter. New York State Common Retirement Fund now owns 1,645,526 shares of the oilfield services company’s stock valued at $40,480,000 after acquiring an additional 186,105 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on HAL shares. Royal Bank Of Canada raised their price target on shares of Halliburton from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. Barclays lifted their target price on shares of Halliburton from $25.00 to $30.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 16th. Rothschild & Co Redburn set a $35.00 price target on shares of Halliburton in a research note on Monday, November 3rd. Piper Sandler increased their price objective on Halliburton from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Finally, Argus boosted their target price on Halliburton from $31.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.95.

Halliburton Price Performance

Shares of NYSE:HAL opened at $35.01 on Friday. The stock has a market capitalization of $29.47 billion, a P/E ratio of 23.19, a P/E/G ratio of 2.01 and a beta of 0.77. The business has a 50-day moving average of $30.54 and a two-hundred day moving average of $26.12. Halliburton Company has a fifty-two week low of $18.72 and a fifty-two week high of $35.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.04 and a quick ratio of 1.51.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Wednesday, January 21st. The oilfield services company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.14. Halliburton had a return on equity of 19.77% and a net margin of 5.78%.The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the prior year, the firm posted $0.73 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities research analysts predict that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, December 3rd. Halliburton’s payout ratio is presently 45.03%.

Insider Buying and Selling at Halliburton

In related news, EVP Lawrence J. Pope sold 100,000 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $32.25, for a total value of $3,225,000.00. Following the transaction, the executive vice president directly owned 419,800 shares in the company, valued at approximately $13,538,550. This trade represents a 19.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Van H. Beckwith sold 54,348 shares of the business’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $34.96, for a total transaction of $1,900,006.08. Following the transaction, the executive vice president directly owned 344,535 shares of the company’s stock, valued at approximately $12,044,943.60. This represents a 13.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 497,002 shares of company stock worth $15,889,138 in the last quarter. 0.56% of the stock is owned by corporate insiders.

About Halliburton

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.