Meyer Handelman Co. Has $6.96 Million Holdings in Halliburton (NYSE:HAL)

Meyer Handelman Co. lessened its position in shares of Halliburton (NYSE:HAL) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 255,799 shares of the oilfield services company’s stock after selling 2,900 shares during the period. Meyer Handelman Co.’s holdings in Halliburton were worth $6,955,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Federated Hermes Inc. lifted its stake in shares of Halliburton by 7.8% in the 2nd quarter. Federated Hermes Inc. now owns 39,719 shares of the oilfield services company’s stock valued at $1,342,000 after purchasing an additional 2,885 shares during the period. Parallel Advisors LLC increased its holdings in Halliburton by 13.4% in the second quarter. Parallel Advisors LLC now owns 9,300 shares of the oilfield services company’s stock worth $314,000 after purchasing an additional 1,102 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Halliburton by 30.2% in the second quarter. Envestnet Asset Management Inc. now owns 737,569 shares of the oilfield services company’s stock valued at $24,915,000 after buying an additional 171,111 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Halliburton by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock worth $340,752,000 after buying an additional 1,681,620 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its position in shares of Halliburton by 2.0% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 35,163 shares of the oilfield services company’s stock worth $1,188,000 after buying an additional 680 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Stock Performance

Shares of HAL stock opened at $28.20 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62. The firm has a 50-day moving average of $28.96 and a 200-day moving average of $30.20. Halliburton has a one year low of $25.51 and a one year high of $41.56. The company has a market cap of $24.77 billion, a P/E ratio of 9.83, a P/E/G ratio of 3.55 and a beta of 1.91.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 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 firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.83 billion. During the same quarter last year, the business posted $0.79 EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis. Equities research analysts forecast that Halliburton will post 3 EPS for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Investors of record on Wednesday, December 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 2.41%. The ex-dividend date of this dividend was Wednesday, December 4th. Halliburton’s payout ratio is 23.69%.

Analyst Ratings Changes

A number of research analysts recently issued reports on HAL shares. Piper Sandler initiated coverage on shares of Halliburton in a research report on Thursday, December 19th. They set an “overweight” rating and a $36.00 target price on the stock. Griffin Securities cut shares of Halliburton from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. UBS Group lowered Halliburton from a “buy” rating to a “neutral” rating and decreased their target price for the company from $36.00 to $34.00 in a research report on Monday, December 9th. Wells Fargo & Company cut their price target on Halliburton from $39.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, Benchmark restated a “buy” rating and set a $40.00 price objective on shares of Halliburton in a report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.95.

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.