Cerro Pacific Wealth Advisors LLC Decreases Position in Halliburton (NYSE:HAL)

Cerro Pacific Wealth Advisors LLC trimmed its position in shares of Halliburton (NYSE:HAL) by 2.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 14,739 shares of the oilfield services company’s stock after selling 433 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Halliburton were worth $428,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of HAL. Country Trust Bank bought a new position in Halliburton in the 3rd quarter worth approximately $36,000. Modus Advisors LLC purchased a new position in shares of Halliburton in the fourth quarter valued at $38,000. Continuum Advisory LLC raised its stake in shares of Halliburton by 101.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock valued at $42,000 after purchasing an additional 698 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Halliburton during the 3rd quarter valued at $44,000. Finally, Venturi Wealth Management LLC boosted its stake in Halliburton by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after purchasing an additional 412 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HAL. Royal Bank of Canada reissued a “sector perform” rating and issued a $34.00 price target on shares of Halliburton in a report on Thursday. Susquehanna reduced their price target on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Friday, November 8th. Bank of America lowered their price objective on Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. JPMorgan Chase & Co. reduced their target price on Halliburton from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company lowered their price target on Halliburton from $39.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.42.

Halliburton Stock Performance

Halliburton stock opened at $28.05 on Friday. Halliburton has a 1-year low of $25.51 and a 1-year high of $41.56. The firm has a market cap of $24.64 billion, a P/E ratio of 9.77, a P/E/G ratio of 3.72 and a beta of 1.91. 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 firm has a 50-day moving average of $28.89 and a 200-day moving average of $30.04.

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

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Wednesday, December 4th. Halliburton’s dividend payout ratio (DPR) is 23.69%.

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.