Exchange Traded Concepts LLC Increases Stock Position in Halliburton (NYSE:HAL)

Exchange Traded Concepts LLC lifted its holdings in shares of Halliburton (NYSE:HAL) by 203.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,866 shares of the oilfield services company’s stock after acquiring an additional 14,668 shares during the period. Exchange Traded Concepts LLC’s holdings in Halliburton were worth $635,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Inspire Investing LLC grew its position in shares of Halliburton by 26.0% during the third quarter. Inspire Investing LLC now owns 9,855 shares of the oilfield services company’s stock worth $286,000 after acquiring an additional 2,034 shares during the last quarter. Valeo Financial Advisors LLC grew its position in shares of Halliburton by 3.8% during the third quarter. Valeo Financial Advisors LLC now owns 90,352 shares of the oilfield services company’s stock worth $2,625,000 after acquiring an additional 3,287 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Halliburton by 401.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 12,775 shares of the oilfield services company’s stock worth $371,000 after acquiring an additional 10,228 shares during the last quarter. BWM Planning LLC purchased a new position in shares of Halliburton during the third quarter worth approximately $322,000. Finally, Northwest Bank & Trust Co grew its position in Halliburton by 3.2% in the 3rd quarter. Northwest Bank & Trust Co now owns 12,979 shares of the oilfield services company’s stock valued at $377,000 after buying an additional 397 shares during the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HAL has been the topic of several recent research reports. Wells Fargo & Company dropped their price objective on shares of Halliburton from $46.00 to $39.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. Royal Bank of Canada cut shares of Halliburton from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $44.00 to $37.00 in a research note on Friday, September 13th. TD Cowen dropped their price objective on shares of Halliburton from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Piper Sandler dropped their price objective on shares of Halliburton from $46.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Finally, Susquehanna dropped their price objective on shares of Halliburton from $46.00 to $42.00 and set a “positive” rating on the stock in a research note on Friday, October 11th. Four investment 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.74.

Halliburton Price Performance

Halliburton stock opened at $28.34 on Friday. Halliburton has a 52 week low of $27.52 and a 52 week high of $43.83. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. The firm’s 50-day simple moving average is $30.00 and its 200 day simple moving average is $33.74. The firm has a market capitalization of $25.09 billion, a PE ratio of 9.81, a P/E/G ratio of 1.04 and a beta of 1.88.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The business had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.95 billion. During the same period in the previous year, the firm earned $0.77 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities research analysts predict that Halliburton will post 3.13 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were issued a $0.17 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.40%. Halliburton’s dividend payout ratio (DPR) is 23.53%.

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.