Eastern Bank Acquires Shares of 3,532 Halliburton (NYSE:HAL)

Eastern Bank acquired a new stake in Halliburton (NYSE:HAL) in the third quarter, HoldingsChannel reports. The institutional investor acquired 3,532 shares of the oilfield services company’s stock, valued at approximately $103,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its position in Halliburton by 2.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 14,027 shares of the oilfield services company’s stock valued at $474,000 after buying an additional 295 shares during the last quarter. Massachusetts Wealth Management raised its stake in shares of Halliburton by 1.7% in the 1st quarter. Massachusetts Wealth Management now owns 18,325 shares of the oilfield services company’s stock valued at $722,000 after purchasing an additional 300 shares in the last quarter. Beacon Capital Management LLC raised its stake in shares of Halliburton by 28.8% in the 1st quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock valued at $54,000 after purchasing an additional 309 shares in the last quarter. Guinness Atkinson Asset Management Inc raised its stake in shares of Halliburton by 3.1% in the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 10,847 shares of the oilfield services company’s stock valued at $366,000 after purchasing an additional 330 shares in the last quarter. Finally, Moody National Bank Trust Division raised its stake in shares of Halliburton by 2.9% in the 2nd quarter. Moody National Bank Trust Division now owns 11,842 shares of the oilfield services company’s stock valued at $400,000 after purchasing an additional 336 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Price Performance

NYSE HAL opened at $28.24 on Friday. Halliburton has a 52 week low of $27.51 and a 52 week high of $41.56. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. The stock has a market cap of $25.00 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 1.04 and a beta of 1.88. The company has a 50-day moving average price of $29.75 and a two-hundred day moving average price of $33.39.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Wednesday, September 4th. Halliburton’s dividend payout ratio (DPR) is presently 23.53%.

Wall Street Analyst Weigh In

HAL has been the topic of a number of recent analyst reports. Johnson Rice upgraded shares of Halliburton to a “moderate buy” rating in a research note on Friday, July 19th. StockNews.com lowered shares of Halliburton from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. Piper Sandler dropped their price objective on shares of Halliburton from $46.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Benchmark reiterated a “buy” rating and set a $42.00 price objective on shares of Halliburton in a research note on Monday, July 22nd. Finally, The Goldman Sachs Group dropped their price objective on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.74.

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.