Golden State Equity Partners Lowers Stock Position in Halliburton (NYSE:HAL)

Golden State Equity Partners reduced its position in Halliburton (NYSE:HAL) by 40.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,725 shares of the oilfield services company’s stock after selling 5,884 shares during the quarter. Golden State Equity Partners’ holdings in Halliburton were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HAL. Bruce G. Allen Investments LLC raised 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 worth $38,000 after purchasing an additional 822 shares during the period. Crewe Advisors LLC purchased a new position in Halliburton in the first quarter valued at approximately $46,000. Country Trust Bank acquired a new position in Halliburton during the third quarter valued at approximately $36,000. Beacon Capital Management LLC grew its stake in Halliburton by 28.8% during the first quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock worth $54,000 after buying an additional 309 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Halliburton in the third quarter worth $44,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Price Performance

Shares of HAL opened at $27.74 on Friday. Halliburton has a 52 week low of $27.26 and a 52 week high of $41.56. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. The firm has a market cap of $24.49 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 1.86 and a beta of 1.88. The stock has a 50 day moving average of $29.40 and a 200-day moving average of $32.94.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.68 annualized dividend and a yield of 2.45%. Halliburton’s payout ratio is 23.53%.

Wall Street Analyst Weigh In

HAL has been the subject of a number of research reports. The Goldman Sachs Group decreased their price target on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Barclays decreased their target price on Halliburton from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. TD Cowen dropped their target price on Halliburton from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Bank of America decreased their price target on Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Jefferies Financial Group lowered their price objective on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.74.

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.