Wellington Management Group LLP Decreases Stock Position in Halliburton Company $HAL

Key Points

• Wellington Management Group LLP reduced its stake in Halliburton Company by 2.0%, selling 108,317 shares, and now holds 5,381,177 shares valued at approximately $136.5 million.
• Halliburton reported earnings per share of $0.55 for the last quarter, aligning with analyst expectations, but experienced a 5.5% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.17 per share, with a yield of 3.2%, to be paid to shareholders on September 24th.

Wellington Management Group LLP reduced its position in Halliburton Company (NYSE:HAL - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,381,177 shares of the oilfield services company's stock after selling 108,317 shares during the quarter. Wellington Management Group LLP owned about 0.63% of Halliburton worth $136,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. purchased a new stake in shares of Halliburton during the fourth quarter worth $28,000. Stone House Investment Management LLC purchased a new position in shares of Halliburton in the first quarter worth about $30,000. Hexagon Capital Partners LLC grew its stake 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 acquiring 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 about $37,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Halliburton in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 85.23% of the company's stock.

Halliburton Trading Up 4.6%

HAL stock traded up $0.9750 during midday trading on Friday, hitting $22.2550. 12,617,447 shares of the company's stock were exchanged, compared to its average volume of 12,239,343. Halliburton Company has a 1-year low of $18.72 and a 1-year high of $32.57. The company has a current ratio of 2.00, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $18.97 billion, a PE ratio of 10.40, a P/E/G ratio of 3.90 and a beta of 1.12. The business has a 50-day simple moving average of $21.61 and a two-hundred day simple moving average of $22.36.

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, meeting analysts' consensus estimates of $0.55. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The company had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.43 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. Halliburton's revenue for the quarter was down 5.5% compared to the same quarter last year. On average, sell-side analysts predict that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 3.1%. Halliburton's payout ratio is presently 31.78%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HAL. Stifel Nicolaus lowered their target price on Halliburton from $31.00 to $29.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Wells Fargo & Company reduced their price objective on Halliburton from $28.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Barclays dropped their target price on Halliburton from $26.00 to $22.00 and set an "equal weight" rating for the company in a report on Wednesday, July 23rd. Melius Research started coverage on Halliburton in a research note on Wednesday. They issued a "buy" rating and a $41.00 target price for the company. Finally, Piper Sandler cut shares of Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price target on the stock. in a research report on Monday, July 28th. Fourteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $32.05.

Halliburton 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.