Spire Wealth Management Sells 23,081 Shares of Halliburton (NYSE:HAL)

Spire Wealth Management lowered its stake in Halliburton (NYSE:HAL) by 17.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 112,218 shares of the oilfield services company’s stock after selling 23,081 shares during the period. Spire Wealth Management’s holdings in Halliburton were worth $3,791,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Rise Advisors LLC acquired a new stake in Halliburton in the 1st quarter worth about $26,000. IAG Wealth Partners LLC acquired a new position in Halliburton in the first quarter valued at about $30,000. Johnson Financial Group Inc. acquired a new stake in Halliburton during the fourth quarter worth about $33,000. First United Bank & Trust acquired a new stake in shares of Halliburton during the 4th quarter worth approximately $36,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in shares of Halliburton by 274.9% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock valued at $38,000 after purchasing an additional 822 shares in the last quarter. 85.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HAL has been the subject of a number of research analyst reports. Susquehanna lowered their price objective on shares of Halliburton from $49.00 to $46.00 and set a “positive” rating for the company in a research report on Monday, July 22nd. Piper Sandler lowered their price target on shares of Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Barclays cut their price objective on Halliburton from $54.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Morgan Stanley lowered their target price on Halliburton from $47.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Finally, The Goldman Sachs Group cut their price target on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $44.88.

Halliburton Stock Down 0.9 %

Shares of HAL stock traded down $0.29 on Friday, reaching $31.09. 11,287,258 shares of the company were exchanged, compared to its average volume of 7,467,739. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 1.54. The company has a 50-day moving average of $32.88 and a 200-day moving average of $35.47. The company has a market cap of $27.52 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 1.12 and a beta of 1.93. Halliburton has a one year low of $30.31 and a one year high of $43.85.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.95 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 earnings per share. Analysts anticipate that Halliburton will post 3.18 earnings per share for the current year.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.19%. Halliburton’s dividend payout ratio (DPR) is presently 23.53%.

Insider Buying and Selling at Halliburton

In other news, EVP Van H. Beckwith sold 10,000 shares of Halliburton stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $36.75, for a total transaction of $367,500.00. Following the completion of the transaction, the executive vice president now directly owns 273,908 shares in the company, valued at $10,066,119. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is currently owned by company insiders.

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.