Halliburton Company $HAL Position Cut by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC cut its stake in Halliburton Company (NYSE:HAL) by 83.0% in the third quarter, HoldingsChannel.com reports. The fund owned 11,269 shares of the oilfield services company’s stock after selling 55,142 shares during the period. Soltis Investment Advisors LLC’s holdings in Halliburton were worth $358,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Halliburton during the second quarter worth about $2,812,327,000. State Street Corp raised its holdings in shares of Halliburton by 4.5% in the 2nd quarter. State Street Corp now owns 56,870,444 shares of the oilfield services company’s stock valued at $1,930,752,000 after purchasing an additional 2,463,137 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Halliburton by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,502,988 shares of the oilfield services company’s stock valued at $370,556,000 after purchasing an additional 367,701 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Halliburton in the 2nd quarter valued at about $345,941,000. Finally, Bank of New York Mellon Corp acquired a new stake in Halliburton in the 2nd quarter valued at about $337,486,000. 85.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO Jeffrey Slocum sold 52,572 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the completion of the sale, the chief operating officer owned 118,730 shares of the company’s stock, valued at $4,166,235.70. This represents a 30.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is currently owned by company insiders.

Halliburton Stock Down 4.4%

HAL opened at $34.57 on Tuesday. Halliburton Company has a fifty-two week low of $24.92 and a fifty-two week high of $43.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.48 and a current ratio of 2.02. The company has a market capitalization of $28.59 billion, a P/E ratio of 14.46, a P/E/G ratio of 2.07 and a beta of 0.83. The stock has a fifty day moving average of $34.25 and a 200-day moving average of $35.76.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, October 20th. The oilfield services company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. Halliburton had a net margin of 8.90% and a return on equity of 18.36%. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.58 billion. During the same period in the prior year, the company posted $0.58 earnings per share. Halliburton’s revenue was up 1.8% compared to the same quarter last year. On average, equities analysts expect that Halliburton Company will post 2.33 EPS for the current year.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd were given a $0.17 dividend. The ex-dividend date was Wednesday, September 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.0%. Halliburton’s dividend payout ratio (DPR) is presently 28.45%.

Wall Street Analyst Weigh In

HAL has been the topic of a number of recent analyst reports. Susquehanna lowered their price target on Halliburton from $45.00 to $42.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Morgan Stanley cut their price objective on Halliburton from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Piper Sandler reduced their target price on Halliburton from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. TD Cowen reissued a “buy” rating on shares of Halliburton in a report on Tuesday, October 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Halliburton in a report on Friday, October 2nd. Eighteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and an average price target of $43.86.

Halliburton Profile

Halliburton Company (NYSE: HAL) is a global provider of products and services for the energy industry. The company supports the exploration, development, and production of oil and natural gas through technologies and services used throughout the life cycle of a well.

Halliburton operates through two primary business segments: Completion and Production, and Drilling and Evaluation. Its offerings include cementing, stimulation, well completion, production enhancement, drilling services, drilling fluids, well testing, wireline and perforating services, formation evaluation, and project management.