Synovus Financial Corp Sells 101,967 Shares of Halliburton Company $HAL

Synovus Financial Corp lessened its stake in Halliburton Company (NYSE:HAL) by 82.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,327 shares of the oilfield services company’s stock after selling 101,967 shares during the quarter. Synovus Financial Corp’s holdings in Halliburton were worth $525,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its position in shares of Halliburton by 22.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,369 shares of the oilfield services company’s stock valued at $58,000 after acquiring an additional 431 shares during the period. Profund Advisors LLC lifted its stake in Halliburton by 0.9% in the 3rd quarter. Profund Advisors LLC now owns 51,508 shares of the oilfield services company’s stock valued at $1,267,000 after purchasing an additional 463 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in Halliburton by 7.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 7,374 shares of the oilfield services company’s stock valued at $150,000 after purchasing an additional 504 shares during the last quarter. Greenleaf Trust grew its holdings in Halliburton by 3.3% during the third quarter. Greenleaf Trust now owns 16,390 shares of the oilfield services company’s stock worth $403,000 after purchasing an additional 519 shares during the period. Finally, Hemington Wealth Management increased its position in Halliburton by 26.7% during the third quarter. Hemington Wealth Management now owns 2,720 shares of the oilfield services company’s stock worth $66,000 after buying an additional 573 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Stock Performance

NYSE HAL opened at $35.23 on Tuesday. The firm has a 50-day moving average price of $31.96 and a two-hundred day moving average price of $27.16. Halliburton Company has a 12-month low of $18.72 and a 12-month high of $35.85. The company has a market capitalization of $29.51 billion, a P/E ratio of 23.33, a P/E/G ratio of 2.09 and a beta of 0.77. The company has a quick ratio of 1.51, a current ratio of 2.04 and a debt-to-equity ratio of 0.68.

Halliburton (NYSE:HAL) last announced its earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.55 by $0.14. The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.39 billion. Halliburton had a net margin of 5.78% and a return on equity of 19.77%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the firm earned $0.73 earnings per share. Analysts anticipate that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, March 4th. Halliburton’s dividend payout ratio is 45.03%.

Wall Street Analyst Weigh In

HAL has been the subject of a number of recent analyst reports. Barclays raised their price objective on Halliburton from $25.00 to $30.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 16th. Piper Sandler raised their price target on Halliburton from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Argus upped their price objective on shares of Halliburton from $31.00 to $39.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Jefferies Financial Group restated a “buy” rating and set a $39.00 target price on shares of Halliburton in a research note on Friday, February 6th. Finally, Capital One Financial upped their price target on shares of Halliburton from $25.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Halliburton currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.19.

Insider Buying and Selling

In other Halliburton news, Director Margaret Katherine Banks sold 2,600 shares of the firm’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $34.17, for a total value of $88,842.00. Following the transaction, the director directly owned 14,043 shares of the company’s stock, valued at $479,849.31. This trade represents a 15.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Van H. Beckwith sold 54,348 shares of the company’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $34.96, for a total value of $1,900,006.08. Following the sale, the executive vice president owned 344,535 shares of the company’s stock, valued at $12,044,943.60. The trade was a 13.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 337,002 shares of company stock valued at $11,445,938. Company insiders own 0.61% of the company’s stock.

Halliburton Company Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.