Wedge Capital Management L L P NC Sells 15,397 Shares of Halliburton (NYSE:HAL)

Wedge Capital Management L L P NC trimmed its position in Halliburton (NYSE:HAL) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 700,963 shares of the oilfield services company’s stock after selling 15,397 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.08% of Halliburton worth $19,059,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Federated Hermes Inc. raised its stake in Halliburton by 7.8% in the 2nd quarter. Federated Hermes Inc. now owns 39,719 shares of the oilfield services company’s stock valued at $1,342,000 after acquiring an additional 2,885 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Halliburton by 30.2% in the second quarter. Envestnet Asset Management Inc. now owns 737,569 shares of the oilfield services company’s stock valued at $24,915,000 after purchasing an additional 171,111 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Halliburton by 9.1% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,183 shares of the oilfield services company’s stock worth $479,000 after buying an additional 1,181 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Halliburton by 7.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 89,551 shares of the oilfield services company’s stock valued at $2,972,000 after buying an additional 5,997 shares during the last quarter. Finally, Seven Eight Capital LP bought a new position in Halliburton in the 2nd quarter valued at about $959,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HAL. BMO Capital Markets lowered their price objective on Halliburton from $40.00 to $38.00 and set a “market perform” rating on the stock in a research report on Thursday, October 10th. Raymond James downgraded shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a report on Monday, January 6th. UBS Group cut shares of Halliburton from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $36.00 to $34.00 in a report on Monday, December 9th. Barclays reiterated an “equal weight” rating and issued a $33.00 price target (down from $43.00) on shares of Halliburton in a research note on Wednesday, December 18th. Finally, 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 note on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.26.

Halliburton Stock Performance

Shares of HAL stock opened at $29.96 on Friday. The firm 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. 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 business’s 50-day moving average price is $28.93 and its 200-day moving average price is $30.18. Halliburton has a 12 month low of $25.51 and a 12 month high of $41.56.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.02). The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. Halliburton’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 EPS. Equities research analysts forecast 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. Investors of record on Wednesday, December 4th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.27%. The ex-dividend date was Wednesday, December 4th. Halliburton’s payout ratio is presently 23.69%.

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.