Banque Pictet & Cie SA Sells 15,012 Shares of Halliburton Company $HAL

Key Points

• Banque Pictet & Cie SA reduced its stake in Halliburton by 21.5%, selling 15,012 shares, which now brings its total holdings to 54,872 shares worth approximately $1.12 million.
• Halliburton reported a quarterly revenue of $5.51 billion and earnings per share of $0.55, achieving the consensus estimate despite a year-over-year revenue decline of 5.5%.
• The company declared a quarterly dividend of $0.17, with an annualized yield of 2.7% and a dividend payout ratio of 31.78%.

Banque Pictet & Cie SA reduced its stake in Halliburton Company (NYSE:HAL - Free Report) by 21.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,872 shares of the oilfield services company's stock after selling 15,012 shares during the quarter. Banque Pictet & Cie SA's holdings in Halliburton were worth $1,118,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of HAL. SBI Securities Co. Ltd. increased its holdings in shares of Halliburton by 8.9% during the first quarter. SBI Securities Co. Ltd. now owns 6,870 shares of the oilfield services company's stock worth $174,000 after purchasing an additional 562 shares during the period. Mediolanum International Funds Ltd increased its holdings in shares of Halliburton by 0.8% during the first quarter. Mediolanum International Funds Ltd now owns 72,381 shares of the oilfield services company's stock worth $1,815,000 after purchasing an additional 584 shares during the period. Hills Bank & Trust Co increased its holdings in shares of Halliburton by 1.6% during the first quarter. Hills Bank & Trust Co now owns 38,733 shares of the oilfield services company's stock worth $983,000 after purchasing an additional 595 shares during the period. AE Wealth Management LLC increased its holdings in shares of Halliburton by 5.1% during the first quarter. AE Wealth Management LLC now owns 12,469 shares of the oilfield services company's stock worth $316,000 after purchasing an additional 605 shares during the period. Finally, Argonautica Private Wealth Management Inc. increased its holdings in shares of Halliburton by 3.7% during the first quarter. Argonautica Private Wealth Management Inc. now owns 17,181 shares of the oilfield services company's stock worth $436,000 after purchasing an additional 614 shares during the period. 85.23% of the stock is owned by institutional investors.

Halliburton Stock Performance

NYSE HAL opened at $25.14 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $21.43 billion, a price-to-earnings ratio of 11.75 and a beta of 1.10. The firm's 50 day simple moving average is $22.15 and its 200 day simple moving average is $21.85. Halliburton Company has a 1 year low of $18.72 and a 1 year high of $32.57.

Halliburton (NYSE:HAL - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. The business had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.43 billion. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The firm's revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. As a group, research analysts expect that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd were given a $0.17 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.7%. Halliburton's dividend payout ratio (DPR) is currently 31.78%.

Analysts Set New Price Targets

HAL has been the topic of several recent research reports. Royal Bank Of Canada lowered their target price on shares of Halliburton from $28.00 to $24.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 23rd. Piper Sandler cut shares of Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 target price on the stock. in a report on Monday, July 28th. UBS Group raised their target price on shares of Halliburton from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Melius Research initiated coverage on shares of Halliburton in a report on Wednesday, August 20th. They set a "buy" rating and a $41.00 target price on the stock. Finally, Barclays reduced their price target on shares of Halliburton from $26.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 23rd. Thirteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $31.37.

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.

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