Avion Wealth Trims Position in Halliburton (NYSE:HAL)

Avion Wealth lowered its position in Halliburton (NYSE:HAL) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 81,321 shares of the oilfield services company’s stock after selling 749 shares during the quarter. Halliburton comprises about 0.6% of Avion Wealth’s holdings, making the stock its 24th biggest holding. Avion Wealth’s holdings in Halliburton were worth $2,211,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HAL. CWM LLC increased its stake 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 acquiring an additional 3,224 shares during the last quarter. Inspire Investing LLC grew its holdings 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 worth $286,000 after purchasing an additional 2,034 shares during the period. Exchange Traded Concepts LLC increased its position 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 purchasing an additional 14,668 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Halliburton by 30.1% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,045 shares of the oilfield services company’s stock valued at $205,000 after buying an additional 1,629 shares during the period. Finally, ORG Wealth Partners LLC acquired a new position in Halliburton in the third quarter valued at about $44,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HAL has been the subject of a number of recent analyst reports. Evercore ISI dropped their price target on shares of Halliburton from $43.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, January 15th. Raymond James downgraded shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a report on Monday, January 6th. Barclays decreased their price target on Halliburton from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Stifel Nicolaus dropped their price objective on Halliburton from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $34.00 target price on shares of Halliburton in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.42.

Halliburton Stock Up 2.0 %

Shares of NYSE HAL opened at $26.50 on Wednesday. The stock has a market cap of $23.28 billion, a PE ratio of 9.36, a price-to-earnings-growth ratio of 3.53 and a beta of 1.89. Halliburton has a 52-week low of $25.16 and a 52-week high of $41.56. The business has a 50-day moving average price of $27.62 and a 200 day moving average price of $29.30. The company has a quick ratio of 1.54, a current ratio of 2.05 and a debt-to-equity ratio of 0.68.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Wednesday, December 4th. Halliburton’s payout ratio is currently 24.03%.

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.