GFG Capital LLC Trims Holdings in Halliburton Company $HAL

Key Points

• GFG Capital LLC significantly reduced its holdings in Halliburton Company by 82.7% during the 2nd quarter, selling 14,656 shares and ending with a total of 3,070 shares valued at $63,000.
• Analysts have mixed ratings on Halliburton, with UBS Group increasing its price target to $23.00 and other firms adjusting their ratings, while a consensus remains a "Moderate Buy" with an average price target of $31.30.
• Halliburton's recent financial performance showed quarterly revenue of $5.51 billion, down 5.5% year-over-year, and they announced a quarterly dividend of $0.17 per share, yielding 2.8%.

GFG Capital LLC trimmed its position in Halliburton Company (NYSE:HAL - Free Report) by 82.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,070 shares of the oilfield services company's stock after selling 14,656 shares during the quarter. GFG Capital LLC's holdings in Halliburton were worth $63,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new position in Halliburton in the 1st quarter worth approximately $30,000. Hexagon Capital Partners LLC grew its holdings in Halliburton by 87.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company's stock valued at $36,000 after buying an additional 656 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in Halliburton during the 1st quarter valued at approximately $37,000. Bartlett & CO. Wealth Management LLC grew its holdings in Halliburton by 109.5% during the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 1,900 shares of the oilfield services company's stock valued at $39,000 after buying an additional 993 shares in the last quarter. Finally, McIlrath & Eck LLC grew its holdings in Halliburton by 756.2% during the 1st quarter. McIlrath & Eck LLC now owns 2,132 shares of the oilfield services company's stock valued at $54,000 after buying an additional 1,883 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. UBS Group increased their price objective on shares of Halliburton from $21.00 to $23.00 and gave the company a "neutral" rating in a report on Monday. Piper Sandler lowered shares of Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price objective for the company. in a report on Monday, July 28th. Melius Research started coverage on shares of Halliburton in a report on Wednesday, August 20th. They issued a "buy" rating and a $41.00 target price for the company. Barclays cut their target price on shares of Halliburton from $26.00 to $22.00 and set an "equal weight" rating for the company in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada cut their target price on shares of Halliburton from $28.00 to $24.00 and set a "sector perform" rating for the company in a report on Wednesday, July 23rd. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Halliburton currently has a consensus rating of "Moderate Buy" and an average price target of $31.30.

Halliburton Stock Down 1.4%

NYSE HAL opened at $23.93 on Thursday. 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 company has a fifty day moving average of $22.50 and a two-hundred day moving average of $21.83. The firm has a market capitalization of $20.40 billion, a price-to-earnings ratio of 11.18 and a beta of 1.02. Halliburton Company has a 52 week low of $18.72 and a 52 week high of $32.57.

Halliburton (NYSE:HAL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The oilfield services company reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. The company had revenue of $5.51 billion during 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%. Halliburton's quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 earnings per share. On average, analysts predict that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Wednesday, September 3rd. Halliburton's dividend payout ratio (DPR) is 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.

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