Quarry LP Decreases Stock Holdings in Halliburton Company $HAL

Quarry LP trimmed its position in Halliburton Company (NYSE:HAL) by 63.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,496 shares of the oilfield services company’s stock after selling 18,153 shares during the quarter. Quarry LP’s holdings in Halliburton were worth $266,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. ORG Partners LLC increased its stake in shares of Halliburton by 13,675.2% in the first quarter. ORG Partners LLC now owns 17,219 shares of the oilfield services company’s stock worth $440,000 after buying an additional 17,094 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Halliburton by 42.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 308,099 shares of the oilfield services company’s stock valued at $7,816,000 after acquiring an additional 91,791 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Halliburton by 33.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 159,533 shares of the oilfield services company’s stock valued at $4,047,000 after acquiring an additional 40,109 shares in the last quarter. Concurrent Investment Advisors LLC boosted its holdings in Halliburton by 22.9% in the first quarter. Concurrent Investment Advisors LLC now owns 128,351 shares of the oilfield services company’s stock valued at $3,256,000 after acquiring an additional 23,887 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Halliburton by 2.5% in the first quarter. Principal Financial Group Inc. now owns 2,780,057 shares of the oilfield services company’s stock valued at $70,530,000 after acquiring an additional 67,704 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on HAL. Piper Sandler cut shares of Halliburton from an “overweight” rating to a “neutral” rating and set a $25.00 price target on the stock. in a report on Monday, July 28th. Melius Research began coverage on shares of Halliburton in a report on Wednesday, August 20th. They issued a “buy” rating and a $41.00 price target on the stock. Barclays cut their price target on shares of Halliburton from $26.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 23rd. Wells Fargo & Company cut their price target on shares of Halliburton from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. Finally, Melius began coverage on shares of Halliburton in a report on Wednesday, August 20th. They issued a “buy” rating and a $41.00 price target on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.05.

Halliburton Stock Performance

Shares of HAL stock opened at $22.75 on Monday. Halliburton Company has a 12 month low of $18.72 and a 12 month high of $32.57. The stock has a market cap of $19.40 billion, a PE ratio of 10.63 and a beta of 1.10. The company has a current ratio of 2.00, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. The company’s fifty day moving average price is $21.59 and its 200-day moving average price is $22.21.

Halliburton (NYSE:HAL) last announced 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 net margin of 8.37% and a return on equity of 21.45%. The firm had revenue of $5.51 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the previous year, the business posted $0.80 EPS. The company’s quarterly revenue was down 5.5% on a year-over-year basis. On average, equities analysts expect that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Announces Dividend

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

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.