Halliburton (NYSE:HAL) is Merrion Investment Management Co LLC’s 7th Largest Position

Merrion Investment Management Co LLC lowered its stake in shares of Halliburton (NYSE:HAL) by 2.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 126,100 shares of the oilfield services company’s stock after selling 3,000 shares during the period. Halliburton makes up approximately 2.4% of Merrion Investment Management Co LLC’s investment portfolio, making the stock its 7th largest position. Merrion Investment Management Co LLC’s holdings in Halliburton were worth $3,429,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in HAL. Franklin Resources Inc. boosted its position in shares of Halliburton by 244.5% during the 3rd quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company’s stock worth $138,025,000 after purchasing an additional 3,203,224 shares during the period. Pacer Advisors Inc. boosted its position in shares of Halliburton by 23.1% during the 3rd quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock worth $487,522,000 after purchasing an additional 3,150,986 shares during the period. Thompson Siegel & Walmsley LLC purchased a new position in shares of Halliburton during the 3rd quarter worth approximately $55,132,000. Thrivent Financial for Lutherans boosted its position in shares of Halliburton by 22.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,520,383 shares of the oilfield services company’s stock worth $160,367,000 after purchasing an additional 995,649 shares during the period. Finally, Banco Santander S.A. purchased a new position in shares of Halliburton during the 3rd quarter worth approximately $13,085,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Price Performance

Shares of NYSE:HAL opened at $26.35 on Thursday. The company’s fifty day moving average price is $28.67 and its 200 day moving average price is $29.85. Halliburton has a 12 month low of $25.51 and a 12 month high of $41.56. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.62. The firm has a market capitalization of $23.14 billion, a P/E ratio of 9.31, a P/E/G ratio of 3.58 and a beta of 1.91.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a return on equity of 26.03% and a net margin of 10.90%. Halliburton’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 earnings per share. As a group, sell-side analysts predict that Halliburton will post 2.94 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th were paid a $0.17 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.58%. Halliburton’s dividend payout ratio is presently 24.03%.

Wall Street Analyst Weigh In

Several brokerages have commented on HAL. Raymond James cut shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a research report on Monday, January 6th. UBS Group cut shares of Halliburton from a “buy” rating to a “neutral” rating and decreased their price target for the company from $36.00 to $34.00 in a research report on Monday, December 9th. BMO Capital Markets decreased their price target on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday, October 10th. Piper Sandler began coverage on shares of Halliburton in a research report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price target for the company. Finally, Wells Fargo & Company decreased their price target on shares of Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.42.

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.