iA Global Asset Management Inc. Reduces Holdings in Halliburton Company (NYSE:HAL)

Key Points

• iA Global Asset Management Inc. reduced its stake in Halliburton by 18.6%, selling 15,565 shares and holding 68,036 shares worth approximately $1.7 million.
• Other institutional investors, including Aviva PLC and Federated Hermes Inc., significantly increased their stakes in Halliburton, reflecting strong institutional interest with 85.23% of the stock owned by institutional investors.
• Halliburton reported a net margin of 8.37% and a quarterly revenue of $5.51 billion, with an expected earnings per share of 2.64 for the current fiscal year.

iA Global Asset Management Inc. decreased its holdings in Halliburton Company (NYSE:HAL - Free Report) by 18.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,036 shares of the oilfield services company's stock after selling 15,565 shares during the quarter. iA Global Asset Management Inc.'s holdings in Halliburton were worth $1,726,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Aviva PLC raised its position in Halliburton by 557.4% during the 4th quarter. Aviva PLC now owns 222,487 shares of the oilfield services company's stock worth $6,049,000 after buying an additional 188,645 shares during the last quarter. Federated Hermes Inc. raised its position in Halliburton by 297.9% during the 4th quarter. Federated Hermes Inc. now owns 13,247 shares of the oilfield services company's stock worth $360,000 after buying an additional 9,918 shares during the last quarter. Bank of Montreal Can raised its position in Halliburton by 6.3% during the 4th quarter. Bank of Montreal Can now owns 959,324 shares of the oilfield services company's stock worth $26,084,000 after buying an additional 57,116 shares during the last quarter. Invesco Ltd. raised its position in Halliburton by 10.6% during the 4th quarter. Invesco Ltd. now owns 10,082,800 shares of the oilfield services company's stock worth $274,151,000 after buying an additional 968,583 shares during the last quarter. Finally, Bank of Nova Scotia raised its position in Halliburton by 56.0% during the 4th quarter. Bank of Nova Scotia now owns 176,371 shares of the oilfield services company's stock worth $4,796,000 after buying an additional 63,279 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on HAL shares. Morgan Stanley lowered their price target on shares of Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. The Goldman Sachs Group lowered their price target on shares of Halliburton from $27.00 to $24.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. 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 note on Monday, July 28th. Wells Fargo & Company lowered 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. Finally, UBS Group lowered their price target on shares of Halliburton from $21.00 to $20.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

Halliburton Trading Down 1.7%

Shares of HAL traded down $0.37 during mid-day trading on Monday, hitting $20.54. The company had a trading volume of 2,051,134 shares, compared to its average volume of 13,851,103. The business's 50-day simple moving average is $21.59 and its 200-day simple moving average is $22.70. 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 1-year low of $18.72 and a 1-year high of $32.57. The stock has a market cap of $17.51 billion, a PE ratio of 9.59, a P/E/G ratio of 3.62 and a beta of 1.12.

Halliburton (NYSE:HAL - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 EPS for the quarter, meeting 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 analyst estimates of $5.43 billion. During the same quarter last year, the firm posted $0.80 earnings per share. Halliburton's revenue for the quarter was down 5.5% compared to the same quarter last year. Sell-side analysts forecast that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.17 per share. The ex-dividend date was Wednesday, June 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.3%. Halliburton's dividend payout ratio (DPR) is currently 31.78%.

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.