GDS Wealth Management Has $3.29 Million Stock Position in Halliburton (NYSE:HAL)

GDS Wealth Management cut its holdings in Halliburton (NYSE:HAL) by 63.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,386 shares of the oilfield services company’s stock after selling 195,761 shares during the period. GDS Wealth Management’s holdings in Halliburton were worth $3,294,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Bruce G. Allen Investments LLC raised its stake in Halliburton by 274.9% in the second quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock valued at $38,000 after buying an additional 822 shares during the period. Crewe Advisors LLC acquired a new stake in Halliburton during the first quarter worth approximately $46,000. Country Trust Bank acquired a new position in shares of Halliburton in the third quarter valued at approximately $36,000. Beacon Capital Management LLC increased its stake in shares of Halliburton by 28.8% during the first quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock worth $54,000 after purchasing an additional 309 shares during the period. Finally, ORG Wealth Partners LLC bought a new stake in Halliburton in the 3rd quarter valued at $44,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Stock Performance

HAL stock opened at $29.23 on Monday. The firm has a market cap of $25.81 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 1.93 and a beta of 1.89. The company has a current ratio of 2.21, a quick ratio of 1.54 and a debt-to-equity ratio of 0.74. The stock has a 50-day moving average price of $29.10 and a 200-day moving average price of $32.49. Halliburton has a 1-year low of $27.26 and a 1-year high of $41.56.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. Halliburton’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 earnings per share. As a group, equities research analysts expect that Halliburton will post 3.09 earnings per share for the current year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Wednesday, September 4th. Halliburton’s dividend payout ratio (DPR) is currently 23.69%.

Analyst Upgrades and Downgrades

HAL has been the subject of a number of recent research reports. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of Halliburton in a research report on Friday. Stifel Nicolaus cut their price objective on shares of Halliburton from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Piper Sandler dropped their target price on shares of Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Evercore ISI decreased their price target on Halliburton from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Finally, Royal Bank of Canada lowered Halliburton from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $44.00 to $37.00 in a research note on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.79.

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.