Massachusetts Wealth Management Sells 1,000 Shares of Halliburton Company $HAL

Massachusetts Wealth Management lowered its holdings in shares of Halliburton Company (NYSE:HAL) by 2.3% during the second quarter, Holdings Channel reports. The firm owned 42,575 shares of the oilfield services company’s stock after selling 1,000 shares during the period. Massachusetts Wealth Management’s holdings in Halliburton were worth $868,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Narwhal Capital Management bought a new position in shares of Halliburton during the 2nd quarter valued at $331,000. KLP Kapitalforvaltning AS raised its holdings in Halliburton by 1.9% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 360,943 shares of the oilfield services company’s stock worth $7,356,000 after acquiring an additional 6,700 shares during the period. Mraz Amerine & Associates Inc. raised its holdings in Halliburton by 42.3% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 80,770 shares of the oilfield services company’s stock worth $1,646,000 after acquiring an additional 24,015 shares during the period. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in Halliburton by 9.1% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 11,970 shares of the oilfield services company’s stock worth $244,000 after acquiring an additional 1,000 shares during the period. Finally, Valley National Advisers Inc. raised its holdings in Halliburton by 2.0% in the 2nd quarter. Valley National Advisers Inc. now owns 67,288 shares of the oilfield services company’s stock worth $1,371,000 after acquiring an additional 1,290 shares during the period. Institutional investors own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HAL. Weiss Ratings reiterated a “hold (c-)” rating on shares of Halliburton in a report on Wednesday. Stifel Nicolaus dropped their target price on shares of Halliburton from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Wells Fargo & Company dropped their target price 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. Royal Bank Of Canada dropped their target price on shares of Halliburton from $28.00 to $24.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 23rd. Finally, Melius Research began coverage on shares of Halliburton in a research report on Wednesday, August 20th. They issued a “buy” rating and a $41.00 price target on the stock. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Halliburton presently has a consensus rating of “Moderate Buy” and an average target price of $31.30.

Halliburton Price Performance

Shares of Halliburton stock opened at $23.93 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 2.00. The firm’s 50-day simple moving average is $22.50 and its 200-day simple moving average is $21.83. Halliburton Company has a twelve month low of $18.72 and a twelve month high of $32.57. The firm has a market cap of $20.40 billion, a P/E ratio of 11.18 and a beta of 1.02.

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

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd were given a $0.17 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. Halliburton’s payout ratio is 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.