Dynamic Technology Lab Private Ltd Lowers Stock Position in Halliburton (NYSE:HAL)

Dynamic Technology Lab Private Ltd trimmed its position in Halliburton (NYSE:HAL) by 8.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 38,544 shares of the oilfield services company’s stock after selling 3,694 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Halliburton were worth $1,120,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fisher Asset Management LLC grew its stake in shares of Halliburton by 20.0% during the 3rd quarter. Fisher Asset Management LLC now owns 508,889 shares of the oilfield services company’s stock worth $14,783,000 after acquiring an additional 84,796 shares during the period. Daiwa Securities Group Inc. grew its stake in Halliburton by 11.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 108,054 shares of the oilfield services company’s stock valued at $3,139,000 after buying an additional 11,224 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Halliburton by 6.5% during the third quarter. Larson Financial Group LLC now owns 61,686 shares of the oilfield services company’s stock worth $1,792,000 after acquiring an additional 3,738 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Halliburton by 39.9% in the third quarter. Penserra Capital Management LLC now owns 15,209 shares of the oilfield services company’s stock worth $441,000 after acquiring an additional 4,340 shares during the period. Finally, StoneX Group Inc. raised its stake in shares of Halliburton by 14.2% during the 3rd quarter. StoneX Group Inc. now owns 30,141 shares of the oilfield services company’s stock valued at $876,000 after purchasing an additional 3,755 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HAL. Susquehanna lowered their price target on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Raymond James lowered their price target on shares of Halliburton from $41.00 to $37.00 and set a “strong-buy” rating for the company in a research note on Friday, November 8th. UBS Group lowered their price target on shares of Halliburton from $41.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Bank of America reduced their price objective on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Wells Fargo & Company dropped their price target on Halliburton from $46.00 to $39.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Four 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.74.

Halliburton Stock Performance

NYSE:HAL opened at $31.81 on Wednesday. The stock has a 50-day simple moving average of $29.57 and a two-hundred day simple moving average of $31.89. The firm has a market capitalization of $27.95 billion, a PE ratio of 11.08, a P/E/G ratio of 3.93 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 posted its quarterly 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). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.83 billion. During the same period in the prior year, the firm posted $0.79 earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. Analysts forecast that Halliburton will post 3.01 EPS for the current year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, December 4th. Halliburton’s payout ratio is presently 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.