Ballast Inc. Boosts Position in Halliburton (NYSE:HAL)

Ballast Inc. lifted its holdings in shares of Halliburton (NYSE:HAL) by 65.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,045 shares of the oilfield services company’s stock after acquiring an additional 9,943 shares during the quarter. Ballast Inc.’s holdings in Halliburton were worth $681,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in HAL. Federated Hermes Inc. boosted its position in shares of Halliburton by 7.8% in the second quarter. Federated Hermes Inc. now owns 39,719 shares of the oilfield services company’s stock worth $1,342,000 after buying an additional 2,885 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Halliburton by 30.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 737,569 shares of the oilfield services company’s stock worth $24,915,000 after acquiring an additional 171,111 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its position in Halliburton by 9.1% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,183 shares of the oilfield services company’s stock valued at $479,000 after acquiring an additional 1,181 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Halliburton during the second quarter valued at approximately $959,000. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Halliburton by 440.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,227 shares of the oilfield services company’s stock worth $75,000 after purchasing an additional 1,815 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Price Performance

Shares of Halliburton stock opened at $29.96 on Friday. Halliburton has a 1-year low of $25.51 and a 1-year high of $41.56. The firm has a fifty day simple moving average of $28.94 and a 200-day simple moving average of $30.16. The company has a current ratio of 2.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $26.32 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 3.36 and a beta of 1.91.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. During the same quarter in the previous year, the firm posted $0.79 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, sell-side analysts expect that Halliburton will post 2.99 earnings per share for the current year.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.68 annualized dividend and a dividend yield of 2.27%. Halliburton’s payout ratio is 23.69%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Stifel Nicolaus lowered their target price on Halliburton from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Bank of America dropped their price objective on Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Susquehanna reduced their target price on Halliburton from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Friday, November 8th. Morgan Stanley dropped their price target on shares of Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Finally, Jefferies Financial Group decreased their price objective on shares of Halliburton from $43.00 to $41.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.26.

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.