Cacti Asset Management LLC Cuts Stock Position in Halliburton Company $HAL

Cacti Asset Management LLC lessened its holdings in Halliburton Company (NYSE:HAL) by 25.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,000 shares of the oilfield services company’s stock after selling 10,000 shares during the period. Cacti Asset Management LLC’s holdings in Halliburton were worth $617,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. raised its position in shares of Halliburton by 8.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 6,870 shares of the oilfield services company’s stock worth $174,000 after buying an additional 562 shares in the last quarter. Mediolanum International Funds Ltd raised its holdings in shares of Halliburton by 0.8% in the 1st quarter. Mediolanum International Funds Ltd now owns 72,381 shares of the oilfield services company’s stock worth $1,815,000 after purchasing an additional 584 shares in the last quarter. Hills Bank & Trust Co raised its holdings in shares of Halliburton by 1.6% in the 1st quarter. Hills Bank & Trust Co now owns 38,733 shares of the oilfield services company’s stock worth $983,000 after purchasing an additional 595 shares in the last quarter. AE Wealth Management LLC raised its holdings in shares of Halliburton by 5.1% in the 1st quarter. AE Wealth Management LLC now owns 12,469 shares of the oilfield services company’s stock worth $316,000 after purchasing an additional 605 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. raised its holdings in shares of Halliburton by 3.7% in the 1st quarter. Argonautica Private Wealth Management Inc. now owns 17,181 shares of the oilfield services company’s stock worth $436,000 after purchasing an additional 614 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

HAL has been the topic of a number of research reports. Barclays dropped their target price on shares of Halliburton from $26.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 23rd. Piper Sandler downgraded shares of Halliburton from an “overweight” rating to a “neutral” rating and set a $25.00 target price on the stock. in a report on Monday, July 28th. Susquehanna dropped their target price on shares of Halliburton from $30.00 to $27.00 and set a “positive” rating on the stock in a report on Wednesday, July 23rd. Melius initiated coverage on shares of Halliburton in a report on Wednesday, August 20th. They issued a “buy” rating and a $41.00 target price on the stock. Finally, Stifel Nicolaus dropped their target price on shares of Halliburton from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Fourteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $32.05.

Halliburton Stock Performance

Halliburton stock opened at $22.25 on Friday. The firm’s 50 day simple moving average is $21.85 and its 200-day simple moving average is $21.98. The company has a market cap of $18.97 billion, a P/E ratio of 10.40 and a beta of 1.10. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.00 and a quick ratio of 1.47. Halliburton Company has a fifty-two week low of $18.72 and a fifty-two week high of $32.57.

Halliburton (NYSE:HAL) last released its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. The business had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.43 billion. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. As a group, equities research analysts predict that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 3.1%. Halliburton’s payout ratio is presently 31.78%.

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.