SouthState Corp Has $36,000 Stock Position in Halliburton (NYSE:HAL)

SouthState Corp reduced its holdings in shares of Halliburton (NYSE:HAL) by 62.1% in the third quarter, Holdings Channel reports. The institutional investor owned 1,229 shares of the oilfield services company’s stock after selling 2,010 shares during the period. SouthState Corp’s holdings in Halliburton were worth $36,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. First Horizon Advisors Inc. grew its holdings in shares of Halliburton by 2.1% during the second quarter. First Horizon Advisors Inc. now owns 14,027 shares of the oilfield services company’s stock valued at $474,000 after buying an additional 295 shares during the last quarter. Beacon Capital Management LLC lifted its position in shares of Halliburton by 28.8% during the first quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock valued at $54,000 after purchasing an additional 309 shares in the last quarter. Guinness Atkinson Asset Management Inc lifted its position in shares of Halliburton by 3.1% during the second quarter. Guinness Atkinson Asset Management Inc now owns 10,847 shares of the oilfield services company’s stock valued at $366,000 after purchasing an additional 330 shares in the last quarter. Moody National Bank Trust Division lifted its position in shares of Halliburton by 2.9% during the second quarter. Moody National Bank Trust Division now owns 11,842 shares of the oilfield services company’s stock valued at $400,000 after purchasing an additional 336 shares in the last quarter. Finally, Northwest Bank & Trust Co lifted its position in shares of Halliburton by 3.2% during the third quarter. Northwest Bank & Trust Co now owns 12,979 shares of the oilfield services company’s stock valued at $377,000 after purchasing an additional 397 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on HAL shares. Bank of America dropped their price target on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. The Goldman Sachs Group dropped their price target on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Royal Bank of Canada lowered shares of Halliburton from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $44.00 to $37.00 in a research report on Friday, September 13th. UBS Group lowered their price objective on shares of Halliburton from $41.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, Jefferies Financial Group lowered their price objective on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Halliburton currently has a consensus rating of “Moderate Buy” and an average target price of $40.74.

Halliburton Stock Performance

NYSE HAL opened at $31.18 on Thursday. The company’s 50 day moving average is $29.29 and its 200-day moving average is $32.07. Halliburton has a 12-month low of $27.26 and a 12-month high of $41.56. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. The firm has a market cap of $27.39 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 3.64 and a beta of 1.89.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.02). The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.79 EPS. Sell-side analysts predict that Halliburton will post 3.02 earnings per share for the current year.

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.68 annualized dividend and a yield of 2.18%. Halliburton’s dividend payout ratio is currently 23.69%.

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.