Wilmington Savings Fund Society FSB Makes New Investment in Halliburton (NYSE:HAL)

Wilmington Savings Fund Society FSB acquired a new stake in Halliburton (NYSE:HAL) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 12,323 shares of the oilfield services company’s stock, valued at approximately $358,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Country Trust Bank acquired a new stake in Halliburton in the third quarter valued at approximately $36,000. Continuum Advisory LLC increased its position in shares of Halliburton by 101.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock valued at $42,000 after purchasing an additional 698 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Halliburton in the 3rd quarter valued at $44,000. Mattson Financial Services LLC purchased a new stake in shares of Halliburton during the 2nd quarter worth $54,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Halliburton by 34.2% during the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after purchasing an additional 412 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. The Goldman Sachs Group cut their price target on Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Wells Fargo & Company decreased their target price on Halliburton from $46.00 to $39.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Dbs Bank assumed coverage on Halliburton in a report on Wednesday, September 18th. They issued a “buy” rating and a $45.00 price target for the company. Barclays cut their price objective on shares of Halliburton from $47.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, Bank of America lowered their target price on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.58.

Halliburton Stock Performance

NYSE HAL opened at $27.89 on Tuesday. The firm has a market cap of $24.50 billion, a P/E ratio of 9.72, a P/E/G ratio of 3.61 and a beta of 1.90. Halliburton has a 52-week low of $27.26 and a 52-week high of $41.56. The business’s 50-day moving average price is $29.69 and its 200 day moving average price is $31.22. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 earnings per share. On average, equities research analysts expect that Halliburton will post 3 earnings per share for the current year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th will be paid a $0.17 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $0.68 annualized dividend and a yield of 2.44%. Halliburton’s dividend payout ratio is currently 23.69%.

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.