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

First Trust Direct Indexing L.P. lessened its holdings in shares of Halliburton (NYSE:HAL) by 17.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,267 shares of the oilfield services company’s stock after selling 6,367 shares during the period. First Trust Direct Indexing L.P.’s holdings in Halliburton were worth $850,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in shares of Halliburton by 2.1% in the 2nd 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 period. Beacon Capital Management LLC lifted 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 last quarter. Guinness Atkinson Asset Management Inc lifted its holdings in shares of Halliburton by 3.1% in the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 10,847 shares of the oilfield services company’s stock worth $366,000 after acquiring an additional 330 shares during the last quarter. Moody National Bank Trust Division lifted its holdings in shares of Halliburton by 2.9% in the 2nd quarter. Moody National Bank Trust Division now owns 11,842 shares of the oilfield services company’s stock worth $400,000 after acquiring an additional 336 shares during the last quarter. Finally, Quent Capital LLC lifted its holdings in shares of Halliburton by 14.7% in the 1st quarter. Quent Capital LLC now owns 2,887 shares of the oilfield services company’s stock worth $114,000 after acquiring an additional 369 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Stock Performance

NYSE:HAL opened at $27.68 on Friday. The firm has a 50 day simple moving average of $29.32 and a 200-day simple moving average of $32.86. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 1.54. The firm has a market cap of $24.44 billion, a PE ratio of 9.20, a P/E/G ratio of 1.82 and a beta of 1.88. Halliburton has a 1-year low of $27.26 and a 1-year high of $41.56.

Halliburton Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 2.46%. The ex-dividend date was Wednesday, September 4th. Halliburton’s dividend payout ratio (DPR) is 22.59%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on HAL shares. Evercore ISI reduced their target price on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Piper Sandler reduced their price objective on shares of Halliburton from $46.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Bank of America dropped their target price 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. Barclays dropped their target price on shares of Halliburton from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Halliburton from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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.