Wedge Capital Management L L P NC Has $15.65 Million Holdings in Halliburton Company $HAL

Wedge Capital Management L L P NC cut its holdings in shares of Halliburton Company (NYSE:HAL) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 636,238 shares of the oilfield services company’s stock after selling 21,562 shares during the period. Wedge Capital Management L L P NC owned approximately 0.07% of Halliburton worth $15,651,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of HAL. AdvisorNet Financial Inc grew its position in shares of Halliburton by 222.4% in the 3rd quarter. AdvisorNet Financial Inc now owns 3,114 shares of the oilfield services company’s stock valued at $77,000 after purchasing an additional 2,148 shares during the period. Board of the Pension Protection Fund bought a new position in Halliburton in the third quarter valued at approximately $986,000. Wedmont Private Capital lifted its stake in Halliburton by 18.8% in the third quarter. Wedmont Private Capital now owns 16,500 shares of the oilfield services company’s stock valued at $401,000 after buying an additional 2,612 shares in the last quarter. Czech National Bank boosted its holdings in shares of Halliburton by 3.0% in the third quarter. Czech National Bank now owns 216,544 shares of the oilfield services company’s stock valued at $5,327,000 after buying an additional 6,382 shares during the period. Finally, Hardin Capital Partners LLC bought a new stake in shares of Halliburton during the third quarter worth $226,000. 85.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on HAL shares. HSBC set a $30.00 price objective on shares of Halliburton and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Morgan Stanley set a $34.00 price objective on Halliburton in a research report on Monday, December 15th. Redburn Partners set a $35.00 target price on Halliburton in a research report on Monday, November 3rd. Piper Sandler upped their price target on Halliburton from $27.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, BMO Capital Markets raised their price target on shares of Halliburton from $28.00 to $31.00 in a research note on Tuesday, November 11th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Insider Transactions at Halliburton

In other Halliburton news, insider Mark Richard sold 160,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $27.77, for a total transaction of $4,443,200.00. Following the transaction, the insider owned 452,374 shares of the company’s stock, valued at $12,562,425.98. The trade was a 26.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Van H. Beckwith sold 8,854 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $27.89, for a total value of $246,938.06. Following the completion of the sale, the executive vice president directly owned 333,528 shares of the company’s stock, valued at approximately $9,302,095.92. The trade was a 2.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.56% of the company’s stock.

Halliburton Stock Up 0.9%

NYSE:HAL opened at $27.71 on Monday. Halliburton Company has a twelve month low of $18.72 and a twelve month high of $30.40. The firm has a market capitalization of $23.32 billion, a price-to-earnings ratio of 18.35 and a beta of 0.81. The company has a quick ratio of 1.43, a current ratio of 1.95 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average price is $26.54 and its two-hundred day moving average price is $23.70.

Halliburton (NYSE:HAL) last released its earnings results on Tuesday, October 21st. The oilfield services company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.08. Halliburton had a net margin of 5.91% and a return on equity of 20.12%. The business had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the business earned $0.73 earnings per share. The firm’s revenue was down 1.7% on a year-over-year basis. Equities research analysts expect that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.5%. Halliburton’s dividend payout ratio (DPR) is presently 45.03%.

Halliburton Company Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.