Halliburton Company $HAL Shares Sold by Boston Partners

Key Points

• Boston Partners reduced its stake in Halliburton Company by 74.5%, owning 1,651,606 shares after selling 4,836,755 shares in the first quarter, with a current value of $41.85 million.
• Several institutional investors increased their positions in Halliburton, contributing to a collective institutional ownership of 85.23% of the stock.
• Halliburton's recent earnings report showed that it met the consensus EPS estimate of $0.55, but its revenue decreased 5.5% year-over-year, amounting to $5.51 billion for the quarter.

Boston Partners reduced its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 74.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,651,606 shares of the oilfield services company's stock after selling 4,836,755 shares during the period. Boston Partners owned about 0.19% of Halliburton worth $41,851,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. National Pension Service increased its stake in shares of Halliburton by 8.3% in the 1st quarter. National Pension Service now owns 1,408,709 shares of the oilfield services company's stock worth $35,739,000 after acquiring an additional 107,500 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Halliburton by 16.6% in the first quarter. Russell Investments Group Ltd. now owns 2,032,052 shares of the oilfield services company's stock worth $51,356,000 after acquiring an additional 289,255 shares during the period. Resona Asset Management Co. Ltd. raised its position in Halliburton by 7.0% in the first quarter. Resona Asset Management Co. Ltd. now owns 285,288 shares of the oilfield services company's stock worth $7,224,000 after acquiring an additional 18,598 shares during the period. Westpac Banking Corp raised its position in Halliburton by 94.6% in the first quarter. Westpac Banking Corp now owns 4,940 shares of the oilfield services company's stock worth $125,000 after acquiring an additional 2,402 shares during the period. Finally, Callan Family Office LLC grew its stake in shares of Halliburton by 5.7% during the 1st quarter. Callan Family Office LLC now owns 13,152 shares of the oilfield services company's stock valued at $334,000 after acquiring an additional 707 shares during the period. Institutional investors own 85.23% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HAL. Piper Sandler lowered shares of Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 target price for the company. in a research report on Monday, July 28th. Citigroup dropped their target price on shares of Halliburton from $33.00 to $31.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus decreased their price objective on Halliburton from $31.00 to $29.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Susquehanna reduced their price objective on shares of Halliburton from $30.00 to $27.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Finally, UBS Group cut their target price on Halliburton from $21.00 to $20.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 23rd. Twelve research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $31.00.

Halliburton Stock Down 1.3%

Halliburton stock traded down $0.2850 during trading on Tuesday, reaching $21.0450. The stock had a trading volume of 4,459,554 shares, compared to its average volume of 13,678,100. Halliburton Company has a 52-week low of $18.72 and a 52-week high of $32.57. The business has a 50 day moving average price of $21.68 and a 200 day moving average price of $22.47. The company has a quick ratio of 1.47, a current ratio of 2.00 and a debt-to-equity ratio of 0.68. The stock has a market cap of $17.94 billion, a PE ratio of 9.82, a P/E/G ratio of 3.69 and a beta of 1.12.

Halliburton (NYSE:HAL - Get Free Report) last released its quarterly earnings data 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. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.The business had revenue of $5.51 billion during the quarter, compared to analysts' expectations of $5.43 billion. During the same period in the prior year, the firm posted $0.80 EPS. The business's quarterly revenue was down 5.5% compared to the same quarter last year. On average, analysts predict that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, September 3rd. Halliburton's dividend payout ratio (DPR) is 31.78%.

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.