Rafferty Asset Management LLC Has $4.29 Million Holdings in Halliburton Company $HAL

Key Points

• Rafferty Asset Management LLC reduced its stake in Halliburton by 16.5%, now holding 169,236 shares valued at approximately $4.29 million.
• Several other institutional investors have increased their positions significantly, with Caisse DE Depot ET Placement DU Quebec boosting its stake by 84.5% to 1.4 million shares valued at around $35.57 million.
• Halliburton's latest earnings report revealed an EPS of $0.55, matching analyst expectations but showing a decrease in revenue compared to the previous year.

Rafferty Asset Management LLC lessened its holdings in Halliburton Company (NYSE:HAL - Free Report) by 16.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,236 shares of the oilfield services company's stock after selling 33,398 shares during the quarter. Rafferty Asset Management LLC's holdings in Halliburton were worth $4,294,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Mascagni Wealth Management Inc. bought a new stake in shares of Halliburton in the fourth quarter worth $28,000. Stone House Investment Management LLC bought a new stake in shares of Halliburton in the first quarter worth $30,000. Hexagon Capital Partners LLC raised its position in Halliburton by 87.4% during the first quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company's stock worth $36,000 after acquiring an additional 656 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in Halliburton during the first quarter worth $37,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Halliburton during the fourth quarter worth $39,000. Institutional investors own 85.23% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on HAL shares. Morgan Stanley dropped their price target on shares of Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Melius Research began coverage on shares of Halliburton in a report on Wednesday, August 20th. They issued a "buy" rating and a $41.00 price objective on the stock. Piper Sandler downgraded shares of Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price objective on the stock. in a report on Monday, July 28th. Barclays decreased their price objective on shares of Halliburton from $26.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company decreased their price target on shares of Halliburton from $28.00 to $26.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Fourteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $32.05.

Halliburton Price Performance

Shares of HAL stock traded up $0.12 on Friday, reaching $22.75. The company had a trading volume of 8,055,025 shares, compared to its average volume of 10,324,742. The stock has a market capitalization of $19.40 billion, a PE ratio of 10.63 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 Company has a one year low of $18.72 and a one year high of $32.57. The business's 50-day moving average is $21.59 and its 200 day moving average is $22.24.

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

Halliburton Dividend Announcement

The firm also recently disclosed 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 yield of 3.0%. The ex-dividend date is Wednesday, September 3rd. Halliburton's dividend payout ratio (DPR) is 31.78%.

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.