IFM Investors Pty Ltd Decreases Holdings in Halliburton Company $HAL

Key Points

• IFM Investors Pty Ltd reduced its holdings in Halliburton Company by 10.9% in the first quarter, selling 28,001 shares, resulting in ownership of 229,006 shares valued at approximately $5.81 million.
• Brokerages have adjusted their price targets for Halliburton, with Royal Bank Of Canada lowering the objective from $28.00 to $24.00, while Susquehanna set a new target of $27.00.
• Halliburton announced a quarterly dividend of $0.17 per share, which is set to be paid on September 24th, representing an annualized dividend yield of 3.0%.

IFM Investors Pty Ltd cut its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 229,006 shares of the oilfield services company's stock after selling 28,001 shares during the quarter. IFM Investors Pty Ltd's holdings in Halliburton were worth $5,810,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mascagni Wealth Management Inc. purchased a new stake in shares of Halliburton during the 4th quarter valued at $28,000. Stone House Investment Management LLC purchased a new stake in Halliburton in the 1st quarter worth about $30,000. Hexagon Capital Partners LLC increased its holdings in Halliburton by 87.4% in the 1st 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 during the last quarter. Vermillion Wealth Management Inc. purchased a new stake in Halliburton in the 4th quarter worth about $39,000. Finally, Zions Bancorporation National Association UT purchased a new stake in Halliburton in the 1st quarter worth about $37,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on HAL. Royal Bank Of Canada decreased their price objective on Halliburton from $28.00 to $24.00 and set a "sector perform" rating for the company in a report on Wednesday, July 23rd. Susquehanna decreased their price objective on Halliburton from $30.00 to $27.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Piper Sandler lowered Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price objective for the company. in a report on Monday, July 28th. UBS Group raised their target price on Halliburton from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Finally, Stifel Nicolaus cut their target price on Halliburton from $31.00 to $29.00 and set a "buy" 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 issued a Hold rating to the stock. According to MarketBeat, Halliburton presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.05.

Halliburton Stock Performance

Shares of HAL opened at $22.34 on Friday. The company has a market cap of $19.05 billion, a PE ratio of 10.44 and a beta of 1.10. 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 50-day moving average price of $21.84 and a 200-day moving average price of $22.01. Halliburton Company has a 12-month low of $18.72 and a 12-month high of $32.57.

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

Halliburton Announces Dividend

The company 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 dividend of $0.17 per share. 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 dividend payout ratio (DPR) is currently 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.

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