Horizon Bancorp Inc. IN Lowers Holdings in Halliburton (NYSE:HAL)

Horizon Bancorp Inc. IN reduced its position in Halliburton (NYSE:HAL) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,638 shares of the oilfield services company’s stock after selling 370 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in Halliburton were worth $72,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its position in shares of Halliburton by 3,757.1% during the second quarter. Acadian Asset Management LLC now owns 37,067 shares of the oilfield services company’s stock valued at $1,251,000 after buying an additional 36,106 shares during the last quarter. Choreo LLC purchased a new stake in Halliburton during the second quarter valued at approximately $450,000. Federated Hermes Inc. grew its holdings in Halliburton by 7.8% in the second quarter. Federated Hermes Inc. now owns 39,719 shares of the oilfield services company’s stock worth $1,342,000 after purchasing an additional 2,885 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Halliburton by 13.4% during the second quarter. Parallel Advisors LLC now owns 9,300 shares of the oilfield services company’s stock worth $314,000 after purchasing an additional 1,102 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Halliburton by 30.2% during the 2nd 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 last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HAL has been the topic of a number of research analyst reports. Bank of America dropped their price target on Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Jefferies Financial Group dropped their target price on shares of Halliburton from $43.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Benchmark restated a “buy” rating and set a $40.00 price target on shares of Halliburton in a research note on Friday, November 8th. Piper Sandler started coverage on shares of Halliburton in a report on Thursday, December 19th. They set an “overweight” rating and a $36.00 price objective on the stock. Finally, Raymond James downgraded Halliburton from a “strong-buy” rating to a “market perform” rating in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.95.

Halliburton Price Performance

HAL stock opened at $27.82 on Tuesday. Halliburton has a 52-week low of $25.51 and a 52-week high of $41.56. The business has a fifty day moving average of $28.97 and a two-hundred day moving average of $30.23. The stock has a market cap of $24.44 billion, a price-to-earnings ratio of 9.69, a price-to-earnings-growth ratio of 3.55 and a beta of 1.91. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74.

Halliburton (NYSE:HAL) last announced its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.02). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.83 billion. During the same period last year, the business earned $0.79 EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, research analysts anticipate that Halliburton will post 3 earnings per share for the current year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, December 4th. This represents a $0.68 annualized dividend and a dividend yield of 2.44%. Halliburton’s dividend payout ratio is currently 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.