First Trust Direct Indexing L.P. Decreases Stock Position in Halliburton (NYSE:HAL)

First Trust Direct Indexing L.P. trimmed its stake in shares of Halliburton (NYSE:HAL) by 17.9% during the third quarter, HoldingsChannel reports. The fund owned 29,267 shares of the oilfield services company’s stock after selling 6,367 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Halliburton were worth $850,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in HAL. Country Trust Bank bought a new position in Halliburton during the 3rd quarter valued at $36,000. Bruce G. Allen Investments LLC raised its holdings in shares of Halliburton by 274.9% during the second 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. ORG Wealth Partners LLC acquired a new stake in shares of Halliburton during the third quarter worth $44,000. Crewe Advisors LLC acquired a new stake in shares of Halliburton during the first quarter worth $46,000. Finally, Beacon Capital Management LLC increased its holdings in shares of Halliburton by 28.8% in the 1st quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock worth $54,000 after acquiring an additional 309 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HAL. Susquehanna dropped their price objective on shares of Halliburton from $46.00 to $42.00 and set a “positive” rating on the stock in a report on Friday, October 11th. Evercore ISI lowered their target price on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. BMO Capital Markets lowered their target price on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating on the stock in a research note on Thursday, October 10th. Johnson Rice raised shares of Halliburton to a “moderate buy” rating in a research note on Friday, July 19th. Finally, Benchmark reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Halliburton in a research note on Monday, July 22nd. Four equities research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.74.

Halliburton Stock Performance

Shares of HAL opened at $27.68 on Friday. The company’s 50 day moving average price is $29.32 and its 200 day moving average price is $32.86. Halliburton has a 52 week low of $27.26 and a 52 week high of $41.56. The company has a market capitalization of $24.44 billion, a PE ratio of 9.20, a PEG ratio of 1.82 and a beta of 1.88. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Wednesday, September 4th. Halliburton’s payout ratio is presently 22.59%.

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.