Meyer Handelman Co. Sells 30,049 Shares of Halliburton Company $HAL

Meyer Handelman Co. trimmed its holdings in Halliburton Company (NYSE:HAL) by 26.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,950 shares of the oilfield services company’s stock after selling 30,049 shares during the quarter. Meyer Handelman Co.’s holdings in Halliburton were worth $2,041,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. HBW Advisory Services LLC bought a new stake in shares of Halliburton during the third quarter worth $342,000. Cohen Klingenstein LLC bought a new stake in shares of Halliburton during the third quarter valued at approximately $209,000. Pacer Advisors Inc. lifted its holdings in shares of Halliburton by 23.1% in the 3rd quarter. Pacer Advisors Inc. now owns 10,154,605 shares of the oilfield services company’s stock worth $249,803,000 after buying an additional 1,906,724 shares during the period. Paragon Capital Management Ltd purchased a new stake in shares of Halliburton in the 3rd quarter worth $216,000. Finally, Fourpath Capital Management LLC bought a new position in shares of Halliburton during the 3rd quarter worth $214,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Stock Performance

Shares of HAL opened at $27.97 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.43 and a debt-to-equity ratio of 0.70. The firm has a market cap of $23.54 billion, a PE ratio of 18.52 and a beta of 0.81. Halliburton Company has a 12 month low of $18.72 and a 12 month high of $30.40. The stock has a fifty day moving average price of $27.11 and a 200-day moving average price of $23.92.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, October 21st. The oilfield services company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. Halliburton had a return on equity of 20.12% and a net margin of 5.91%.The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the business posted $0.73 earnings per share. The firm’s revenue was down 1.7% compared to the same quarter last year. Equities research analysts predict that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, December 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.4%. Halliburton’s dividend payout ratio is 45.03%.

Insider Buying and Selling

In other news, EVP Van H. Beckwith sold 8,854 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $27.89, for a total value of $246,938.06. Following the completion of the sale, the executive vice president directly owned 333,528 shares in the company, valued at $9,302,095.92. The trade was a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Richard sold 160,000 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $27.77, for a total value of $4,443,200.00. Following the transaction, the insider owned 452,374 shares in the company, valued at $12,562,425.98. This trade represents a 26.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Rothschild & Co Redburn initiated coverage on shares of Halliburton in a report on Monday, November 3rd. They set a “buy” rating and a $35.00 target price on the stock. Piper Sandler increased their price objective on shares of Halliburton from $27.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, December 18th. Zacks Research raised shares of Halliburton from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 23rd. UBS Group upped their target price on Halliburton from $24.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Finally, The Goldman Sachs Group lifted their price target on Halliburton from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.50.

About Halliburton

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.