Avion Wealth Cuts Position in Halliburton (NYSE:HAL)

Avion Wealth reduced its stake in shares of Halliburton (NYSE:HAL) by 0.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 81,321 shares of the oilfield services company’s stock after selling 749 shares during the period. Halliburton makes up about 0.6% of Avion Wealth’s holdings, making the stock its 24th largest position. Avion Wealth’s holdings in Halliburton were worth $2,211,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. CWM LLC boosted its holdings in Halliburton by 11.1% during the third quarter. CWM LLC now owns 32,366 shares of the oilfield services company’s stock worth $940,000 after buying an additional 3,224 shares in the last quarter. Inspire Investing LLC lifted its position in shares of Halliburton by 26.0% during the 3rd quarter. Inspire Investing LLC now owns 9,855 shares of the oilfield services company’s stock valued at $286,000 after acquiring an additional 2,034 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Halliburton by 203.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 21,866 shares of the oilfield services company’s stock worth $635,000 after acquiring an additional 14,668 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Halliburton by 30.1% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,045 shares of the oilfield services company’s stock worth $205,000 after acquiring an additional 1,629 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Halliburton in the 3rd quarter worth approximately $44,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on HAL. Morgan Stanley lowered their target price on Halliburton from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Piper Sandler initiated coverage on shares of Halliburton in a research note on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price objective on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $34.00 target price on shares of Halliburton in a research report on Thursday, January 23rd. Griffin Securities downgraded shares of Halliburton from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. cut their price objective on Halliburton from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and a consensus target price of $37.42.

Halliburton Price Performance

Shares of NYSE HAL opened at $26.50 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.54. Halliburton has a 1-year low of $25.16 and a 1-year high of $41.56. The company has a market capitalization of $23.28 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 3.53 and a beta of 1.89. The business has a 50-day moving average of $27.62 and a 200-day moving average of $29.30.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Wednesday, December 4th. Halliburton’s dividend payout ratio is presently 24.03%.

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.