Cetera Investment Advisers Decreases Stock Holdings in Halliburton (NYSE:HAL)

Cetera Investment Advisers lessened its stake in Halliburton (NYSE:HAL) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 142,851 shares of the oilfield services company’s stock after selling 2,147 shares during the period. Cetera Investment Advisers’ holdings in Halliburton were worth $4,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in HAL. Rise Advisors LLC purchased a new position in Halliburton during the 1st quarter worth $26,000. Bruce G. Allen Investments LLC increased its holdings 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 acquiring an additional 822 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Halliburton in the 1st quarter valued at approximately $46,000. Beacon Capital Management LLC boosted its stake in Halliburton by 28.8% in the 1st quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock worth $54,000 after purchasing an additional 309 shares in the last quarter. Finally, General Partner Inc. acquired a new stake in Halliburton in the 1st quarter worth approximately $55,000. 85.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on HAL shares. JPMorgan Chase & Co. decreased their price target on shares of Halliburton from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Piper Sandler lowered 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. Bank of America decreased their target price on Halliburton from $41.00 to $40.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Morgan Stanley decreased their price objective on Halliburton from $45.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, Wells Fargo & Company lowered their price objective on Halliburton from $46.00 to $39.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.56.

Insider Buying and Selling

In related news, EVP Van H. Beckwith sold 10,000 shares of Halliburton stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total value of $367,500.00. Following the completion of the transaction, the executive vice president now owns 273,908 shares in the company, valued at $10,066,119. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.61% of the company’s stock.

Halliburton Trading Down 3.3 %

NYSE HAL opened at $30.05 on Wednesday. Halliburton has a one year low of $27.52 and a one year high of $43.85. The firm has a 50 day simple moving average of $30.41 and a 200-day simple moving average of $34.25. The firm has a market cap of $26.60 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 1.02 and a beta of 1.88. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.95 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 earnings per share. Equities research analysts anticipate that Halliburton will post 3.14 EPS for the current fiscal year.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Wednesday, September 4th. Halliburton’s dividend payout ratio is presently 23.53%.

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.