GAMMA Investing LLC Cuts Stake in Halliburton (NYSE:HAL)

GAMMA Investing LLC cut its holdings in Halliburton (NYSE:HALFree Report) by 18.1% in the fourth quarter, Holdings Channel reports. The fund owned 8,694 shares of the oilfield services company’s stock after selling 1,927 shares during the quarter. GAMMA Investing LLC’s holdings in Halliburton were worth $236,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HAL. Country Trust Bank bought a new position in shares of Halliburton during the third quarter valued at approximately $36,000. Continuum Advisory LLC increased its holdings in shares of Halliburton by 101.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock valued at $42,000 after acquiring an additional 698 shares during the period. ORG Wealth Partners LLC bought a new position in shares of Halliburton in the 3rd quarter worth $44,000. Mattson Financial Services LLC purchased a new stake in shares of Halliburton during the 2nd quarter worth $54,000. Finally, Venturi Wealth Management LLC boosted its position in Halliburton by 34.2% during the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock valued at $47,000 after purchasing an additional 412 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Stock Performance

Shares of Halliburton stock opened at $27.70 on Wednesday. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. Halliburton has a 52 week low of $25.51 and a 52 week high of $41.56. The firm’s 50 day moving average is $29.02 and its two-hundred day moving average is $30.43. The firm has a market capitalization of $24.33 billion, a P/E ratio of 9.65, a P/E/G ratio of 3.55 and a beta of 1.91.

Halliburton (NYSE:HALGet Free Report) 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). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same quarter in the prior year, the business earned $0.79 earnings per share. Halliburton’s revenue was down 1.8% compared to the same quarter last year. Research analysts forecast that Halliburton will post 3 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Investors of record on Wednesday, December 4th were given a $0.17 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.45%. Halliburton’s dividend payout ratio (DPR) is presently 23.69%.

Wall Street Analysts Forecast Growth

HAL has been the subject of several analyst reports. UBS Group lowered 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 lowered their target price on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday, October 10th. Raymond James downgraded Halliburton from a “strong-buy” rating to a “market perform” rating in a research report on Monday. JPMorgan Chase & Co. dropped their target price on Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Finally, Jefferies Financial Group lowered their target price on Halliburton from $43.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Halliburton presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.95.

Check Out Our Latest Stock Analysis on Halliburton

Halliburton Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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