Spire Wealth Management Sells 32,552 Shares of Halliburton (NYSE:HAL)

Spire Wealth Management trimmed its stake in shares of Halliburton (NYSE:HAL) by 74.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 11,009 shares of the oilfield services company’s stock after selling 32,552 shares during the quarter. Spire Wealth Management’s holdings in Halliburton were worth $299,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Modus Advisors LLC purchased a new stake in shares of Halliburton during the 4th quarter valued at $38,000. Continuum Advisory LLC increased its stake in shares of Halliburton by 101.2% in the third quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock worth $42,000 after buying an additional 698 shares during the period. ORG Wealth Partners LLC bought a new position in shares of Halliburton during the third quarter valued at about $44,000. Venturi Wealth Management LLC lifted its holdings in Halliburton by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after buying an additional 412 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its holdings in Halliburton by 28.8% in the third quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock valued at $51,000 after acquiring an additional 393 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on HAL. Benchmark dropped their price objective on shares of Halliburton from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. UBS Group lowered shares of Halliburton from a “buy” rating to a “neutral” rating and decreased their target price for the company from $36.00 to $34.00 in a research note on Monday, December 9th. Susquehanna lowered their target price on Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Friday, November 8th. Morgan Stanley cut their target price on Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Finally, Barclays cut their price target on Halliburton from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.42.

Halliburton Stock Down 3.1 %

Shares of NYSE:HAL opened at $25.47 on Friday. The firm has a market capitalization of $22.37 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 3.60 and a beta of 1.89. The business has a 50 day simple moving average of $28.00 and a two-hundred day simple moving average of $29.50. Halliburton has a 1 year low of $25.21 and a 1 year high of $41.56. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.54.

Halliburton (NYSE:HAL) last announced its quarterly earnings data 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 10.90% and a return on equity of 26.03%. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. During the same period last year, the company earned $0.79 EPS. The business’s revenue was down 1.8% compared to the same quarter last year. On average, equities analysts predict that Halliburton will post 2.67 EPS for the current year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Investors of record on Wednesday, December 4th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Wednesday, December 4th. Halliburton’s dividend payout ratio is presently 24.03%.

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.