Cerro Pacific Wealth Advisors LLC Has $428,000 Stock Position in Halliburton (NYSE:HAL)

Cerro Pacific Wealth Advisors LLC lessened its holdings in Halliburton (NYSE:HAL) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,739 shares of the oilfield services company’s stock after selling 433 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Halliburton were worth $428,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of HAL. Geode Capital Management LLC grew its holdings in shares of Halliburton by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 20,630,361 shares of the oilfield services company’s stock valued at $597,234,000 after purchasing an additional 172,505 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Halliburton by 23.1% during the third quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock worth $487,522,000 after buying an additional 3,150,986 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Halliburton by 2.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,742,352 shares of the oilfield services company’s stock worth $166,815,000 after buying an additional 115,504 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Halliburton by 22.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 5,520,383 shares of the oilfield services company’s stock valued at $160,367,000 after acquiring an additional 995,649 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Halliburton by 244.5% during the 3rd quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company’s stock worth $138,025,000 after acquiring an additional 3,203,224 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wells Fargo & Company dropped their target price on Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. JPMorgan Chase & Co. cut their target price on Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Piper Sandler began coverage on Halliburton in a report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 target price on the stock. Griffin Securities downgraded shares of Halliburton from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, Jefferies Financial Group lowered their target price on shares of Halliburton from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Halliburton has a consensus rating of “Moderate Buy” and a consensus price target of $37.42.

Halliburton Price Performance

Shares of NYSE:HAL opened at $28.05 on Friday. 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 cap of $24.64 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 3.72 and a beta of 1.91. The stock’s fifty day simple moving average is $28.89 and its two-hundred day simple moving average is $30.04. Halliburton has a 1-year low of $25.51 and a 1-year 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 for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. During the same period in the previous year, the business earned $0.79 earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, analysts forecast that Halliburton will post 2.99 EPS for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.68 annualized dividend and a yield of 2.42%. Halliburton’s dividend payout ratio is currently 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.