Fifth Third Bancorp Sells 1,683 Shares of Halliburton (NYSE:HAL)

Fifth Third Bancorp decreased its holdings in Halliburton (NYSE:HAL) by 5.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 30,725 shares of the oilfield services company’s stock after selling 1,683 shares during the period. Fifth Third Bancorp’s holdings in Halliburton were worth $835,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Creative Planning increased its stake in shares of Halliburton by 5.8% in the second quarter. Creative Planning now owns 155,159 shares of the oilfield services company’s stock valued at $5,241,000 after buying an additional 8,507 shares during the period. NewEdge Advisors LLC increased its position in Halliburton by 21.9% during the 2nd quarter. NewEdge Advisors LLC now owns 73,725 shares of the oilfield services company’s stock valued at $2,490,000 after purchasing an additional 13,241 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Halliburton by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 41,739 shares of the oilfield services company’s stock worth $1,410,000 after purchasing an additional 5,860 shares during the last quarter. Truist Financial Corp lifted its position in shares of Halliburton by 20.9% in the 2nd quarter. Truist Financial Corp now owns 1,490,642 shares of the oilfield services company’s stock worth $50,354,000 after purchasing an additional 257,403 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of Halliburton in the 2nd quarter valued at $2,257,000. 85.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HAL has been the topic of several recent analyst reports. Benchmark dropped their target price on shares of Halliburton from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Raymond James lowered Halliburton from a “strong-buy” rating to a “market perform” rating in a research report on Monday, January 6th. Morgan Stanley lowered their target price on Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Piper Sandler initiated coverage on Halliburton in a report on Thursday, December 19th. They set an “overweight” rating and a $36.00 price target on the stock. Finally, Stifel Nicolaus lowered their price objective on shares of Halliburton from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.42.

Halliburton Stock Performance

NYSE HAL opened at $26.35 on Thursday. The company has a fifty day moving average price of $28.67 and a 200-day moving average price of $29.85. The firm has a market cap of $23.14 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 3.58 and a beta of 1.91. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.62. Halliburton has a 1 year low of $25.51 and a 1 year high of $41.56.

Halliburton (NYSE:HAL) last posted its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). The firm 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 26.03% and a net margin of 10.90%. Halliburton’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.79 EPS. As a group, equities research analysts predict that Halliburton will post 2.94 EPS for the current fiscal year.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th were paid a $0.17 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.58%. Halliburton’s dividend payout ratio (DPR) is presently 24.03%.

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.