Simmons Bank Increases Stake in Halliburton (NYSE:HAL)

Simmons Bank lifted its stake in Halliburton (NYSE:HAL) by 4.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 60,978 shares of the oilfield services company’s stock after buying an additional 2,438 shares during the quarter. Simmons Bank’s holdings in Halliburton were worth $1,771,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Country Trust Bank bought a new stake in Halliburton in the 3rd quarter valued at $36,000. Bruce G. Allen Investments LLC grew its position in shares of Halliburton by 274.9% during the second quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock valued at $38,000 after purchasing an additional 822 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Halliburton in the third quarter worth about $44,000. Crewe Advisors LLC purchased a new stake in shares of Halliburton in the first quarter worth about $46,000. Finally, Venturi Wealth Management LLC boosted its stake 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 buying an additional 412 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on HAL shares. Susquehanna reduced their price objective on Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a research note on Friday, November 8th. Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of Halliburton in a research note on Friday, November 8th. Dbs Bank started coverage on shares of Halliburton in a research report on Wednesday, September 18th. They set a “buy” rating and a $45.00 price objective for the company. TD Cowen decreased their target price on shares of Halliburton from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, Piper Sandler dropped their price target on Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and an average price target of $40.79.

Halliburton Stock Performance

NYSE HAL opened at $30.19 on Thursday. The stock has a market cap of $26.52 billion, a PE ratio of 10.52, a PEG ratio of 3.70 and a beta of 1.89. Halliburton has a 12 month low of $27.26 and a 12 month high of $41.56. The company’s 50-day moving average price is $29.09 and its 200-day moving average price is $32.33. The company has a current ratio of 2.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.74.

Halliburton (NYSE:HAL) last issued its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. Halliburton’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 earnings per share. Equities research analysts forecast that Halliburton will post 3.02 earnings per share for the current year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.68 annualized dividend and a yield of 2.25%. Halliburton’s payout ratio is currently 23.69%.

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.