Guinness Asset Management LTD Has $6.23 Million Stock Holdings in Halliburton Company $HAL

Key Points

• Guinness Asset Management LTD reduced its holdings in Halliburton Company by 20%, leaving it with 246,291 shares valued at approximately $6.23 million.
• Halliburton reported earnings of $0.55 per share for the latest quarter, meeting analyst expectations, but showcased a 5.5% decline in revenue year-over-year, totaling $5.51 billion.
• The company declared a quarterly dividend of $0.17, resulting in an annualized dividend yield of 3.0% with a payout ratio of 31.78%.

Guinness Asset Management LTD cut its position in Halliburton Company (NYSE:HAL - Free Report) by 20.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 246,291 shares of the oilfield services company's stock after selling 61,482 shares during the period. Guinness Asset Management LTD's holdings in Halliburton were worth $6,228,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in HAL. Charles Schwab Investment Management Inc. grew its stake in shares of Halliburton by 450.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company's stock valued at $759,623,000 after buying an additional 24,506,472 shares during the period. AQR Capital Management LLC grew its stake in shares of Halliburton by 217.4% in the 1st quarter. AQR Capital Management LLC now owns 4,641,111 shares of the oilfield services company's stock valued at $116,770,000 after buying an additional 3,178,746 shares during the period. Nuveen LLC acquired a new stake in shares of Halliburton in the 1st quarter valued at about $72,637,000. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Halliburton by 15.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,093,680 shares of the oilfield services company's stock valued at $437,587,000 after buying an additional 2,171,722 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Halliburton by 121.8% in the 1st quarter. Victory Capital Management Inc. now owns 3,306,224 shares of the oilfield services company's stock valued at $83,879,000 after buying an additional 1,815,357 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Price Performance

Halliburton stock opened at $22.34 on Friday. Halliburton Company has a 52 week low of $18.72 and a 52 week high of $32.57. The company's 50 day moving average price is $21.84 and its two-hundred day moving average price is $22.01. 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 $19.05 billion, a P/E ratio of 10.44 and a beta of 1.10.

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

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, September 3rd. Halliburton's payout ratio is 31.78%.

Wall Street Analysts Forecast Growth

HAL has been the subject of a number of analyst reports. Melius Research initiated coverage on Halliburton in a research note on Wednesday, August 20th. They set a "buy" rating and a $41.00 price target for the company. Wells Fargo & Company cut their price target on Halliburton from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Piper Sandler downgraded Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price target for the company. in a research note on Monday, July 28th. Melius initiated coverage on Halliburton in a research note on Wednesday, August 20th. They set a "buy" rating and a $41.00 price target for the company. Finally, Barclays cut their price target on Halliburton from $26.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 23rd. Fourteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.05.

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.

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