Independent Advisor Alliance Lowers Stake in Halliburton (NYSE:HAL)

Independent Advisor Alliance cut its stake in Halliburton (NYSE:HAL) by 12.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,235 shares of the oilfield services company’s stock after selling 1,203 shares during the quarter. Independent Advisor Alliance’s holdings in Halliburton were worth $239,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fisher Asset Management LLC lifted its stake in Halliburton by 20.0% in the 3rd quarter. Fisher Asset Management LLC now owns 508,889 shares of the oilfield services company’s stock valued at $14,783,000 after buying an additional 84,796 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Halliburton by 11.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 108,054 shares of the oilfield services company’s stock valued at $3,139,000 after acquiring an additional 11,224 shares during the last quarter. Larson Financial Group LLC raised its holdings in Halliburton by 6.5% in the 3rd quarter. Larson Financial Group LLC now owns 61,686 shares of the oilfield services company’s stock valued at $1,792,000 after acquiring an additional 3,738 shares during the last quarter. Penserra Capital Management LLC raised its holdings in Halliburton by 39.9% in the 3rd quarter. Penserra Capital Management LLC now owns 15,209 shares of the oilfield services company’s stock valued at $441,000 after acquiring an additional 4,340 shares during the last quarter. Finally, StoneX Group Inc. raised its holdings in Halliburton by 14.2% in the 3rd quarter. StoneX Group Inc. now owns 30,141 shares of the oilfield services company’s stock valued at $876,000 after acquiring an additional 3,755 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Stock Performance

NYSE:HAL opened at $31.86 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21. The stock has a market capitalization of $27.99 billion, a P/E ratio of 11.10, a PEG ratio of 3.93 and a beta of 1.89. The company has a 50 day moving average price of $29.72 and a 200 day moving average price of $31.85. Halliburton has a fifty-two week low of $27.26 and a fifty-two week high of $41.56.

Halliburton (NYSE:HAL) last issued 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). Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.83 billion. During the same period in the prior year, the business earned $0.79 EPS. The business’s quarterly revenue was down 1.8% on a year-over-year basis. Equities research analysts forecast that Halliburton will post 3.01 EPS for the current year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.68 annualized dividend and a yield of 2.13%. Halliburton’s dividend payout ratio is presently 23.69%.

Wall Street Analyst Weigh In

A number of research firms have commented on HAL. Barclays cut their price objective on shares of Halliburton from $47.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Jefferies Financial Group cut their price objective on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. BMO Capital Markets cut their price objective on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Dbs Bank initiated coverage on shares of Halliburton in a report on Wednesday, September 18th. They set a “buy” rating and a $45.00 price target for the company. Finally, Raymond James cut their price target on shares of Halliburton from $41.00 to $37.00 and set a “strong-buy” rating for the company in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and a consensus target price of $40.74.

Halliburton 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.