Angeles Wealth Management LLC Has $232,000 Stock Holdings in Halliburton (NYSE:HAL)

Angeles Wealth Management LLC cut its stake in Halliburton (NYSE:HAL) by 12.2% during the second quarter, HoldingsChannel reports. The fund owned 6,867 shares of the oilfield services company’s stock after selling 952 shares during the quarter. Angeles Wealth Management LLC’s holdings in Halliburton were worth $232,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of HAL. Price T Rowe Associates Inc. MD increased its stake in shares of Halliburton by 46.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock worth $2,408,171,000 after acquiring an additional 19,237,784 shares during the last quarter. Norges Bank acquired a new position in Halliburton during the fourth quarter worth $400,070,000. LSV Asset Management raised its holdings in Halliburton by 24,954.1% during the second quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock valued at $92,250,000 after buying an additional 2,720,000 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Halliburton by 2.7% in the first quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock worth $3,952,805,000 after buying an additional 2,618,740 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Halliburton by 116.9% during the 1st quarter. Principal Financial Group Inc. now owns 2,483,230 shares of the oilfield services company’s stock worth $97,889,000 after acquiring an additional 1,338,371 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Halliburton Price Performance

NYSE:HAL opened at $27.97 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13. The company has a 50-day moving average of $32.12 and a 200-day moving average of $35.15. Halliburton has a 52 week low of $27.52 and a 52 week high of $43.85. The company has a market capitalization of $24.76 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 0.97 and a beta of 1.89.

Halliburton (NYSE:HAL) last posted 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 firm had revenue of $5.83 billion during the quarter, compared to analyst estimates of $5.95 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 earnings per share. As a group, equities research analysts anticipate that Halliburton will post 3.14 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $0.68 annualized dividend and a dividend yield of 2.43%. Halliburton’s dividend payout ratio (DPR) is presently 23.53%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on HAL shares. JPMorgan Chase & Co. reduced their target price on Halliburton from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Jefferies Financial Group lowered their price target on Halliburton from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Monday, July 29th. Stifel Nicolaus lowered their price target on Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Piper Sandler lowered their price target on Halliburton from $46.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Barclays lowered their price target on Halliburton from $54.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Halliburton currently has a consensus rating of “Moderate Buy” and an average price target of $44.88.

Insider Activity at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the stock in a transaction on Thursday, July 18th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is owned by insiders.

About Halliburton

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.