Ethic Inc. Decreases Stock Position in Halliburton Company $HAL

Key Points

• Ethic Inc. reduced its stake in Halliburton by 8.5%, owning 331,597 shares valued at approximately $8.47 million after selling 30,982 shares in Q1 2024.
• Several hedge funds have recently changed their positions in Halliburton, contributing to 85.23% of the company's stock being held by institutional investors.
• Halliburton's quarterly earnings matched analyst expectations, reporting an EPS of $0.55 and a revenue of $5.51 billion, though revenue declined 5.5% year-over-year.

Ethic Inc. decreased its stake in Halliburton Company (NYSE:HAL - Free Report) by 8.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 331,597 shares of the oilfield services company's stock after selling 30,982 shares during the quarter. Ethic Inc.'s holdings in Halliburton were worth $8,472,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its holdings in Halliburton by 3.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 37,839 shares of the oilfield services company's stock worth $960,000 after purchasing an additional 1,227 shares during the period. Tejara Capital Ltd raised its holdings in Halliburton by 204.0% in the 1st quarter. Tejara Capital Ltd now owns 101,550 shares of the oilfield services company's stock worth $2,576,000 after purchasing an additional 68,150 shares during the period. Aberdeen Group plc raised its holdings in Halliburton by 130.9% in the 1st quarter. Aberdeen Group plc now owns 591,289 shares of the oilfield services company's stock worth $14,957,000 after purchasing an additional 335,218 shares during the period. Black Cypress Capital Management LLC raised its holdings in Halliburton by 30.7% in the 1st quarter. Black Cypress Capital Management LLC now owns 275,902 shares of the oilfield services company's stock worth $7,000,000 after purchasing an additional 64,824 shares during the period. Finally, Kovitz Investment Group Partners LLC raised its holdings in Halliburton by 149.4% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 323,516 shares of the oilfield services company's stock worth $8,208,000 after purchasing an additional 193,778 shares during the period. Institutional investors and hedge funds own 85.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HAL. Citigroup reduced their price target on Halliburton from $33.00 to $31.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Piper Sandler cut Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price target for the company. in a report on Monday, July 28th. Royal Bank Of Canada reduced their price target on Halliburton from $28.00 to $24.00 and set a "sector perform" rating for the company in a report on Wednesday, July 23rd. UBS Group decreased 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. Finally, The Goldman Sachs Group decreased their target price on Halliburton from $27.00 to $24.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Twelve investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

Halliburton Price Performance

Shares of NYSE:HAL traded down $0.2270 during midday trading on Tuesday, hitting $21.1030. The company had a trading volume of 7,299,479 shares, compared to its average volume of 13,697,447. Halliburton Company has a twelve month low of $18.72 and a twelve month high of $32.57. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.00 and a quick ratio of 1.47. The stock has a market cap of $17.99 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 3.69 and a beta of 1.12. The business's 50-day simple moving average is $21.68 and its 200-day simple moving average is $22.47.

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

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.17 per share. 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 currently 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.