Federated Hermes Inc. Cuts Holdings in Halliburton (NYSE:HAL)

Federated Hermes Inc. lowered its stake in shares of Halliburton (NYSE:HAL) by 88.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,620 shares of the oilfield services company’s stock after selling 304,577 shares during the quarter. Federated Hermes Inc.’s holdings in Halliburton were worth $1,468,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in HAL. Sourcerock Group LLC lifted its stake in Halliburton by 237.6% during the third quarter. Sourcerock Group LLC now owns 1,677,194 shares of the oilfield services company’s stock worth $67,926,000 after purchasing an additional 1,180,406 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its position in Halliburton by 1,507.6% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 852,357 shares of the oilfield services company’s stock worth $34,520,000 after buying an additional 799,337 shares during the last quarter. Barclays PLC boosted its stake in Halliburton by 32.7% in the third quarter. Barclays PLC now owns 2,339,859 shares of the oilfield services company’s stock worth $94,766,000 after buying an additional 575,933 shares in the last quarter. Nordea Investment Management AB boosted its stake in Halliburton by 271.0% in the fourth quarter. Nordea Investment Management AB now owns 768,057 shares of the oilfield services company’s stock worth $27,781,000 after buying an additional 561,020 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Halliburton by 5.3% during the third quarter. Bank of New York Mellon Corp now owns 8,871,178 shares of the oilfield services company’s stock valued at $359,283,000 after acquiring an additional 448,548 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

Halliburton Stock Up 0.9 %

Shares of Halliburton stock opened at $38.89 on Tuesday. Halliburton has a 1 year low of $27.84 and a 1 year high of $43.85. The firm has a market cap of $34.42 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 0.99 and a beta of 2.00. The company has a 50-day moving average of $37.95 and a 200 day moving average of $37.31. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.12 and a quick ratio of 1.52.

Halliburton (NYSE:HAL) last posted its earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.67 billion. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. As a group, sell-side analysts anticipate that Halliburton will post 3.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HAL has been the subject of a number of research reports. Susquehanna reaffirmed a “positive” rating and issued a $49.00 price objective on shares of Halliburton in a research note on Monday, April 8th. The Goldman Sachs Group raised their price objective on Halliburton from $46.00 to $48.00 in a research note on Tuesday, April 23rd. Raymond James lowered their target price on Halliburton from $49.00 to $47.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. UBS Group increased their price objective on Halliburton from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, Barclays decreased their target price on shares of Halliburton from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.65.

Insider Transactions at Halliburton

In related news, CEO Jeffrey Allen Miller sold 377,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the transaction, the chief executive officer now owns 759,015 shares in the company, valued at $26,793,229.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction on Monday, March 4th. The stock was sold at an average price of $35.30, for a total value of $13,308,100.00. Following the completion of the sale, the chief executive officer now owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Margaret Katherine Banks sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the sale, the director now owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

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.