Gallacher Capital Management LLC Reduces Holdings in Halliburton Company $HAL

Gallacher Capital Management LLC decreased its position in shares of Halliburton Company (NYSE:HAL) by 6.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,413 shares of the oilfield services company’s stock after selling 1,732 shares during the period. Gallacher Capital Management LLC’s holdings in Halliburton were worth $518,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. purchased a new stake in Halliburton during the 4th quarter worth $28,000. Stone House Investment Management LLC purchased a new stake in Halliburton during the 1st quarter worth $30,000. Hexagon Capital Partners LLC increased its stake in Halliburton by 87.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company’s stock worth $36,000 after buying an additional 656 shares during the period. Zions Bancorporation National Association UT purchased a new stake in Halliburton during the 1st quarter worth $37,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Halliburton in the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Trading Down 0.3%

Halliburton stock opened at $22.25 on Monday. The company has a quick ratio of 1.47, a current ratio of 2.00 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $21.85 and a two-hundred day moving average price of $21.92. The firm has a market capitalization of $18.97 billion, a price-to-earnings ratio of 10.40 and a beta of 1.10. Halliburton Company has a 52-week low of $18.72 and a 52-week high of $32.57.

Halliburton (NYSE:HAL) last posted its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. The firm had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.43 billion. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. Halliburton’s revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 EPS. Sell-side analysts expect that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, September 3rd. Halliburton’s payout ratio is presently 31.78%.

Analyst Ratings Changes

HAL has been the subject of several research analyst reports. Royal Bank Of Canada dropped their target price on shares of Halliburton from $28.00 to $24.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 23rd. Wells Fargo & Company dropped their target price on shares of Halliburton from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. Barclays dropped their target price on shares of Halliburton from $26.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 23rd. Stifel Nicolaus dropped their target price on shares of Halliburton from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Finally, Melius Research initiated coverage on shares of Halliburton in a research report on Wednesday, August 20th. They issued a “buy” rating and a $41.00 target price for the company. Fourteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.05.

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.