Gateway Investment Advisers LLC Has $7.54 Million Stock Holdings in Halliburton Company $HAL

Key Points

• Gateway Investment Advisers LLC reduced its holdings in Halliburton by 21.2%, now owning 369,826 shares valued at $7.5 million after selling 99,520 shares in the second quarter.
• Analysts have mixed views on Halliburton's stock, with thirteen analysts rating it as a Buy and an average target price of $31.37, though Piper Sandler downgraded its rating to "neutral."
• Halliburton recently announced a $0.17 quarterly dividend, which results in a 3.1% dividend yield, reflecting the company's ongoing commitment to returning value to shareholders.

Gateway Investment Advisers LLC lowered its holdings in Halliburton Company (NYSE:HAL - Free Report) by 21.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 369,826 shares of the oilfield services company's stock after selling 99,520 shares during the quarter. Gateway Investment Advisers LLC's holdings in Halliburton were worth $7,537,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Czech National Bank grew its position in Halliburton by 5.4% during the second quarter. Czech National Bank now owns 210,162 shares of the oilfield services company's stock valued at $4,283,000 after buying an additional 10,735 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Halliburton by 150.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 5,232 shares of the oilfield services company's stock worth $107,000 after buying an additional 3,141 shares in the last quarter. Wesbanco Bank Inc. raised its stake in Halliburton by 33.5% during the second quarter. Wesbanco Bank Inc. now owns 345,108 shares of the oilfield services company's stock worth $7,033,000 after purchasing an additional 86,565 shares during the period. OMNI 360 Wealth Inc. purchased a new position in Halliburton during the second quarter worth about $222,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Halliburton by 36.2% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 19,060 shares of the oilfield services company's stock valued at $388,000 after acquiring an additional 5,062 shares during the period. Institutional investors and hedge funds own 85.23% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on HAL shares. Piper Sandler cut shares of 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. Melius Research assumed coverage on shares of Halliburton in a research report on Wednesday, August 20th. They set a "buy" rating and a $41.00 price objective for the company. Susquehanna cut their price objective on shares of Halliburton from $30.00 to $27.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Stifel Nicolaus cut their price objective on shares of Halliburton from $31.00 to $29.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Finally, Melius assumed coverage on shares of Halliburton in a research report on Wednesday, August 20th. They set a "buy" rating and a $41.00 price objective for the company. Thirteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $31.37.

Halliburton Price Performance

NYSE:HAL traded up $0.18 on Friday, reaching $22.54. The stock had a trading volume of 24,445,793 shares, compared to its average volume of 10,252,546. Halliburton Company has a 1-year low of $18.72 and a 1-year high of $32.57. The stock has a fifty day moving average price of $21.87 and a 200-day moving average price of $21.85. The company has a market capitalization of $19.22 billion, a P/E ratio of 10.53 and a beta of 1.10. The company has a quick ratio of 1.47, a current ratio of 2.00 and a debt-to-equity ratio of 0.68.

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 for the quarter, hitting analysts' consensus estimates of $0.55. The business had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.43 billion. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. Halliburton's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 earnings per share. Research analysts forecast that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 3.0%. Halliburton's dividend payout ratio is currently 31.78%.

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.