Birmingham Capital Management Co. Inc. AL Trims Position in Halliburton (NYSE:HAL)

Birmingham Capital Management Co. Inc. AL lowered its position in shares of Halliburton (NYSE:HAL) by 2.4% during the second quarter, Holdings Channel reports. The fund owned 71,875 shares of the oilfield services company’s stock after selling 1,750 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in Halliburton were worth $2,428,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Halliburton in the second quarter valued at $521,000. Truist Financial Corp grew its holdings in Halliburton by 20.9% in the 2nd quarter. Truist Financial Corp now owns 1,490,642 shares of the oilfield services company’s stock valued at $50,354,000 after buying an additional 257,403 shares during the period. Brandes Investment Partners LP increased its stake in shares of Halliburton by 15.1% during the 2nd quarter. Brandes Investment Partners LP now owns 4,279,478 shares of the oilfield services company’s stock valued at $144,516,000 after acquiring an additional 560,325 shares during the last quarter. Quarry LP purchased a new position in shares of Halliburton during the 2nd quarter worth about $184,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Halliburton by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 41,739 shares of the oilfield services company’s stock worth $1,410,000 after acquiring an additional 5,860 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. The Goldman Sachs Group cut their price target on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Barclays cut their target price on Halliburton from $54.00 to $48.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. Jefferies Financial Group lowered their price target on Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. StockNews.com downgraded Halliburton from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. Finally, Susquehanna decreased their target price on Halliburton from $49.00 to $46.00 and set a “positive” rating for the company in a report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.56.

Insider Activity

In related news, EVP Van H. Beckwith sold 10,000 shares of Halliburton stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total value of $367,500.00. Following the completion of the sale, the executive vice president now owns 273,908 shares in the company, valued at $10,066,119. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

Halliburton Price Performance

Shares of HAL stock opened at $29.92 on Wednesday. The firm has a fifty day simple moving average of $30.66 and a 200-day simple moving average of $34.46. The company has a market capitalization of $26.49 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 1.02 and a beta of 1.89. Halliburton has a twelve month low of $27.52 and a twelve month high of $43.85. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The company had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.95 billion. During the same period in the prior year, the company posted $0.77 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts anticipate that Halliburton will post 3.14 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.17 per share. The ex-dividend date was Wednesday, September 4th. This represents a $0.68 annualized dividend and a yield of 2.27%. Halliburton’s dividend payout ratio is presently 23.53%.

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.