Cullen Investment Group LTD. Cuts Position in Halliburton (NYSE:HAL)

Cullen Investment Group LTD. lowered its stake in Halliburton (NYSE:HAL) by 31.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,866 shares of the oilfield services company’s stock after selling 17,433 shares during the period. Cullen Investment Group LTD.’s holdings in Halliburton were worth $1,030,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. City Center Advisors LLC grew its stake in Halliburton by 25.1% in the 4th quarter. City Center Advisors LLC now owns 9,958 shares of the oilfield services company’s stock worth $271,000 after acquiring an additional 2,000 shares in the last quarter. Czech National Bank raised its stake in shares of Halliburton by 5.9% during the 4th quarter. Czech National Bank now owns 190,477 shares of the oilfield services company’s stock worth $5,179,000 after acquiring an additional 10,636 shares in the last quarter. HBW Advisory Services LLC lifted its holdings in shares of Halliburton by 3.9% during the 4th quarter. HBW Advisory Services LLC now owns 10,504 shares of the oilfield services company’s stock valued at $286,000 after purchasing an additional 397 shares during the last quarter. Sage Capital Advisors llc acquired a new position in shares of Halliburton during the fourth quarter valued at about $7,469,000. Finally, First Hawaiian Bank grew its position in Halliburton by 47.6% during the 4th quarter. First Hawaiian Bank now owns 11,815 shares of the oilfield services company’s stock worth $321,000 after purchasing an additional 3,808 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on HAL shares. Piper Sandler assumed coverage on Halliburton in a report on Thursday, December 19th. They set an “overweight” rating and a $36.00 target price for the company. UBS Group lowered shares of Halliburton from a “buy” rating to a “neutral” rating and dropped their price target for the company from $36.00 to $34.00 in a research report on Monday, December 9th. Susquehanna dropped their target price on Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Friday, November 8th. JPMorgan Chase & Co. dropped their price objective on Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Finally, Benchmark reiterated a “buy” rating and set a $40.00 target price on shares of Halliburton in a research report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Halliburton presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.95.

Halliburton Stock Up 3.2 %

Shares of Halliburton stock opened at $27.82 on Tuesday. The company has a market cap of $24.44 billion, a P/E ratio of 9.69, a PEG ratio of 3.55 and a beta of 1.91. Halliburton has a one year low of $25.51 and a one year high of $41.56. The firm has a fifty day moving average of $28.97 and a two-hundred day moving average of $30.23. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21.

Halliburton (NYSE:HAL) last issued 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). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.83 billion. During the same period last year, the business earned $0.79 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts forecast that Halliburton will post 3 earnings per share for the current year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.68 annualized dividend and a yield of 2.44%. Halliburton’s dividend payout ratio is presently 23.69%.

Halliburton 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.