Atlantic Union Bankshares Corp Reduces Stake in Halliburton (NYSE:HAL)

Atlantic Union Bankshares Corp lessened its holdings in shares of Halliburton (NYSE:HAL) by 45.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,402 shares of the oilfield services company’s stock after selling 10,188 shares during the period. Atlantic Union Bankshares Corp’s holdings in Halliburton were worth $360,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. acquired a new stake in Halliburton during the third quarter worth approximately $195,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Halliburton by 2.1% in the 3rd 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 valued at $166,815,000 after buying an additional 115,504 shares during the last quarter. Public Sector Pension Investment Board raised its stake in Halliburton by 0.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 154,210 shares of the oilfield services company’s stock worth $4,480,000 after acquiring an additional 390 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Halliburton by 12.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 395,772 shares of the oilfield services company’s stock valued at $11,497,000 after acquiring an additional 43,895 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Halliburton in the third quarter valued at $1,461,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Morgan Stanley cut their target price on Halliburton from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of Halliburton in a research report on Friday, November 8th. UBS Group decreased their price objective on Halliburton from $41.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Stifel Nicolaus lowered their target price on shares of Halliburton from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Finally, Bank of America reduced their price target on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, October 14th. 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. Based on data from MarketBeat, Halliburton presently has an average rating of “Moderate Buy” and a consensus price target of $40.74.

Halliburton Stock Down 0.1 %

Halliburton stock opened at $31.86 on Friday. Halliburton has a fifty-two week low of $27.26 and a fifty-two week high of $41.56. The firm has a market capitalization of $27.99 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 3.93 and a beta of 1.89. The stock’s fifty day moving average is $29.72 and its two-hundred day moving average is $31.85. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21.

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 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 business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.83 billion. During the same period in the previous year, the company posted $0.79 earnings per share. Halliburton’s revenue was down 1.8% on a year-over-year basis. Analysts predict that Halliburton will post 3.01 EPS for the current fiscal year.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Wednesday, December 4th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.68 annualized dividend and a dividend yield of 2.13%. 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.