Renaissance Investment Group LLC Acquires 923 Shares of Halliburton (NYSE:HAL)

Renaissance Investment Group LLC increased its holdings in Halliburton (NYSE:HAL) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 142,579 shares of the oilfield services company’s stock after buying an additional 923 shares during the period. Renaissance Investment Group LLC’s holdings in Halliburton were worth $4,142,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Capital World Investors boosted its holdings in Halliburton by 0.3% in the 1st quarter. Capital World Investors now owns 121,928,734 shares of the oilfield services company’s stock worth $4,806,431,000 after buying an additional 377,500 shares during the period. Vanguard Group Inc. boosted its holdings in Halliburton by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock valued at $3,952,805,000 after purchasing an additional 2,618,740 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Halliburton by 46.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock valued at $2,408,171,000 after purchasing an additional 19,237,784 shares during the period. Pacer Advisors Inc. boosted its holdings in Halliburton by 17,317.6% in the 2nd quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock valued at $460,462,000 after purchasing an additional 13,552,927 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Halliburton by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock valued at $340,752,000 after purchasing an additional 1,681,620 shares during the period. 85.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on HAL. Piper Sandler cut their price target on shares of Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. cut their price target on shares of Halliburton from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Morgan Stanley cut their price target on shares of Halliburton from $45.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Bank of America lowered their price objective on shares of Halliburton from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, Stifel Nicolaus lowered their price objective on shares of Halliburton from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.89.

Halliburton Price Performance

Shares of NYSE:HAL opened at $30.82 on Friday. The stock has a market cap of $27.21 billion, a PE ratio of 10.24, a PEG ratio of 1.04 and a beta of 1.88. Halliburton has a 52 week low of $27.52 and a 52 week high of $43.85. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. The company’s fifty day moving average is $30.17 and its 200 day moving average is $34.05.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.95 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The company’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS. Research analysts anticipate that Halliburton will post 3.13 earnings per share for the current year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Wednesday, September 4th. Halliburton’s dividend payout ratio (DPR) is presently 22.59%.

Insiders Place Their Bets

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total value of $367,500.00. Following the sale, the executive vice president now owns 273,908 shares of the company’s stock, valued at $10,066,119. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

About Halliburton

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.