Meyer Handelman Co. Has $6.96 Million Stock Position in Halliburton (NYSE:HAL)

Meyer Handelman Co. cut its holdings in shares of Halliburton (NYSE:HAL) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 255,799 shares of the oilfield services company’s stock after selling 2,900 shares during the period. Meyer Handelman Co.’s holdings in Halliburton were worth $6,955,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Cary Street Partners Asset Management LLC grew its holdings in Halliburton by 56.5% during the 3rd quarter. Cary Street Partners Asset Management LLC now owns 157,085 shares of the oilfield services company’s stock worth $4,563,000 after acquiring an additional 56,707 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Halliburton by 146.0% during the second quarter. Canada Pension Plan Investment Board now owns 842,355 shares of the oilfield services company’s stock worth $28,455,000 after purchasing an additional 500,000 shares during the period. Mackenzie Financial Corp raised its position in shares of Halliburton by 105.2% during the second quarter. Mackenzie Financial Corp now owns 186,961 shares of the oilfield services company’s stock worth $6,316,000 after purchasing an additional 95,864 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Halliburton by 23.1% during the 3rd quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock valued at $487,522,000 after purchasing an additional 3,150,986 shares in the last quarter. Finally, Quest Partners LLC grew its position in shares of Halliburton by 2,418.9% in the 3rd quarter. Quest Partners LLC now owns 78,387 shares of the oilfield services company’s stock valued at $2,277,000 after purchasing an additional 75,275 shares during the period. Institutional investors own 85.23% of the company’s stock.

Halliburton Trading Up 1.4 %

HAL opened at $28.20 on Wednesday. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. Halliburton has a twelve month low of $25.51 and a twelve month high of $41.56. The stock has a market capitalization of $24.77 billion, a price-to-earnings ratio of 9.83, a P/E/G ratio of 3.55 and a beta of 1.91. The company has a 50-day simple moving average of $28.96 and a 200 day simple moving average of $30.20.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the company posted $0.79 EPS. Analysts predict that Halliburton will post 3 EPS for the current fiscal year.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Wednesday, December 4th. Halliburton’s payout ratio is 23.69%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wells Fargo & Company dropped their price target on Halliburton from $39.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Morgan Stanley reduced their target price on Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Piper Sandler started coverage on Halliburton in a research note on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price target on the stock. BMO Capital Markets reduced their price objective on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their target price on shares of Halliburton from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Halliburton currently has an average rating of “Moderate Buy” and an average price target of $38.95.

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.