Prudential PLC Cuts Stake in Halliburton Company (NYSE:HAL)

Key Points

• Prudential PLC reduced its holdings in Halliburton by 5.4%, selling 20,800 shares, leaving it with 363,279 shares worth approximately $9.2 million.
• Halliburton's recent quarterly earnings report showed an EPS of $0.55, matching analysts' expectations, but revenue fell 5.5% year-over-year.
• The company declared a quarterly dividend of $0.17, contributing to an annualized dividend yield of 3.2%.

Prudential PLC cut its position in shares of Halliburton Company (NYSE:HAL - Free Report) by 5.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 363,279 shares of the oilfield services company's stock after selling 20,800 shares during the quarter. Prudential PLC's holdings in Halliburton were worth $9,216,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in HAL. Mascagni Wealth Management Inc. bought a new stake in shares of Halliburton during the fourth quarter valued at approximately $28,000. Stone House Investment Management LLC bought a new stake in shares of Halliburton during the first quarter valued at approximately $30,000. Hexagon Capital Partners LLC boosted its position in shares of Halliburton by 87.4% during the first quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company's stock valued at $36,000 after purchasing an additional 656 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Halliburton during the first quarter valued at approximately $37,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Halliburton during the fourth quarter valued at approximately $39,000. 85.23% of the stock is currently owned by institutional investors.

Halliburton Stock Performance

HAL stock traded down $0.22 during trading on Friday, reaching $21.13. The stock had a trading volume of 7,568,134 shares, compared to its average volume of 14,748,248. Halliburton Company has a 52 week low of $18.72 and a 52 week high of $32.57. The stock's 50 day moving average is $21.67 and its two-hundred day moving average is $22.55. 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 firm has a market cap of $18.02 billion, a PE ratio of 9.87, a PEG ratio of 3.73 and a beta of 1.12.

Halliburton (NYSE:HAL - Get Free Report) last issued its quarterly 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 business had revenue of $5.51 billion during the quarter, compared to analysts' expectations of $5.43 billion. Halliburton had a return on equity of 21.45% and a net margin of 8.37%. The business's quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 earnings per share. As a group, equities analysts anticipate 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. Shareholders of record on Wednesday, September 3rd will be given a $0.17 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 3.2%. Halliburton's dividend payout ratio is presently 31.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HAL shares. Barclays lowered their price objective 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. UBS Group lowered their price objective on Halliburton from $21.00 to $20.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Susquehanna lowered their price objective on Halliburton from $30.00 to $27.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Piper Sandler cut Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price objective for the company. in a research note on Monday, July 28th. Finally, Citigroup lowered their price objective on Halliburton from $33.00 to $31.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Halliburton has a consensus rating of "Moderate Buy" and an average target price of $31.00.

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.