SouthState Corp Sells 2,010 Shares of Halliburton (NYSE:HAL)

SouthState Corp lessened its stake in Halliburton (NYSE:HAL) by 62.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,229 shares of the oilfield services company’s stock after selling 2,010 shares during the period. SouthState Corp’s holdings in Halliburton were worth $36,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of HAL. Edgestream Partners L.P. raised its position in Halliburton by 138.4% in the 1st quarter. Edgestream Partners L.P. now owns 22,485 shares of the oilfield services company’s stock worth $886,000 after purchasing an additional 13,055 shares during the last quarter. Lake Street Advisors Group LLC grew its holdings in Halliburton by 18.7% during the 1st quarter. Lake Street Advisors Group LLC now owns 12,249 shares of the oilfield services company’s stock worth $483,000 after acquiring an additional 1,931 shares during the period. Crewe Advisors LLC acquired a new stake in Halliburton during the 1st quarter worth $46,000. EP Wealth Advisors LLC grew its holdings in Halliburton by 15.8% during the 1st quarter. EP Wealth Advisors LLC now owns 7,966 shares of the oilfield services company’s stock worth $314,000 after acquiring an additional 1,089 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in Halliburton by 19.2% during the 1st quarter. Advisors Asset Management Inc. now owns 131,193 shares of the oilfield services company’s stock worth $5,172,000 after acquiring an additional 21,129 shares during the period. Institutional investors own 85.23% of the company’s stock.

Analyst Ratings Changes

HAL has been the subject of a number of analyst reports. Barclays lowered their target price on shares of Halliburton from $47.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Royal Bank of Canada lowered shares of Halliburton from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $44.00 to $37.00 in a report on Friday, September 13th. Dbs Bank initiated coverage on shares of Halliburton in a report on Wednesday, September 18th. They issued a “buy” rating and a $45.00 price target for the company. Raymond James decreased their price target on shares of Halliburton from $41.00 to $37.00 and set a “strong-buy” rating for the company in a report on Friday, November 8th. Finally, Bank of America reduced their target price on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Halliburton presently has an average rating of “Moderate Buy” and a consensus target price of $40.74.

Halliburton Price Performance

HAL stock opened at $31.18 on Thursday. The company has a fifty day moving average price of $29.29 and a 200-day moving average price of $32.07. The company has a market capitalization of $27.39 billion, a P/E ratio of 10.86, a PEG ratio of 3.64 and a beta of 1.89. Halliburton has a 52-week low of $27.26 and a 52-week high of $41.56. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21.

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

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Wednesday, December 4th. Halliburton’s payout ratio is 23.69%.

Halliburton Company 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.