Cary Street Partners Asset Management LLC Buys 56,707 Shares of Halliburton (NYSE:HAL)

Cary Street Partners Asset Management LLC raised its stake in Halliburton (NYSE:HAL) by 56.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 157,085 shares of the oilfield services company’s stock after buying an additional 56,707 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Halliburton were worth $4,563,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in Halliburton by 46.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock valued at $2,408,171,000 after acquiring an additional 19,237,784 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Halliburton by 17,317.6% during the 2nd quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock valued at $460,462,000 after purchasing an additional 13,552,927 shares during the last quarter. LSV Asset Management raised its holdings in shares of Halliburton by 24,954.1% during the 2nd quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock valued at $92,250,000 after buying an additional 2,720,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in Halliburton by 2.7% in the first quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock worth $3,952,805,000 after buying an additional 2,618,740 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Halliburton by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock valued at $340,752,000 after acquiring an additional 1,681,620 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Trading Up 1.6 %

Shares of NYSE HAL opened at $28.13 on Tuesday. Halliburton has a 1 year low of $27.26 and a 1 year high of $41.56. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 1.54. The firm has a 50-day moving average of $29.24 and a 200 day moving average of $32.71. The stock has a market cap of $24.83 billion, a P/E ratio of 9.35, a price-to-earnings-growth ratio of 1.82 and a beta of 1.89.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were given a $0.17 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.42%. Halliburton’s dividend payout ratio is currently 22.59%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HAL shares. Barclays cut their price objective on shares of Halliburton from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Wells Fargo & Company reduced their price objective on Halliburton from $46.00 to $39.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. Piper Sandler lowered their target price on Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Johnson Rice upgraded Halliburton to a “moderate buy” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. lowered their price objective on Halliburton from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Halliburton currently has a consensus rating of “Moderate Buy” and an average target price of $41.74.

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.