Spire Wealth Management Sells 5,498 Shares of Halliburton (NYSE:HAL)

Posted by Defense World Staff on Apr 26th, 2023

Spire Wealth Management cut its position in shares of Halliburton (NYSE:HAL – Get Rating) by 64.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,089 shares of the oilfield services company’s stock after selling 5,498 shares during the period. Spire Wealth Management’s holdings in Halliburton were worth $122,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Capital Investment Advisory Services LLC purchased a new position in shares of Halliburton during the fourth quarter valued at $234,000. Luken Investment Analytics LLC bought a new stake in shares of Halliburton in the 4th quarter valued at about $31,000. BOK Financial Private Wealth Inc. bought a new position in Halliburton in the fourth quarter worth approximately $50,000. Simplicity Solutions LLC purchased a new stake in Halliburton during the fourth quarter worth $280,000. Finally, Olistico Wealth LLC bought a new stake in Halliburton during the 4th quarter valued at $443,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Halliburton Trading Down 3.5 %

NYSE HAL opened at $33.25 on Wednesday. The company has a fifty day moving average of $34.18 and a 200 day moving average of $36.22. The company has a market capitalization of $30.02 billion, a PE ratio of 19.22, a P/E/G ratio of 0.43 and a beta of 2.11. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.05 and a quick ratio of 1.50. Halliburton has a 1 year low of $23.30 and a 1 year high of $43.99.

Halliburton (NYSE:HAL – Get Rating) last issued its earnings results on Tuesday, January 24th. The oilfield services company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. The firm had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.59 billion. Halliburton had a return on equity of 26.25% and a net margin of 7.74%. The company’s revenue was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 earnings per share. Research analysts forecast that Halliburton will post 3.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Margaret Katherine Banks sold 2,769 shares of Halliburton stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $38.79, for a total transaction of $107,409.51. Following the completion of the transaction, the director now directly owns 11,856 shares of the company’s stock, valued at approximately $459,894.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada upped their price objective on Halliburton from $45.00 to $48.00 in a research note on Wednesday, January 25th. Barclays lifted their price objective on shares of Halliburton from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 25th. The Goldman Sachs Group increased their target price on shares of Halliburton from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, January 30th. Wolfe Research raised shares of Halliburton from an “underperform” rating to an “outperform” rating and set a $51.00 price target on the stock in a report on Thursday, January 12th. Finally, Benchmark reiterated a “buy” rating and set a $50.00 price objective on shares of Halliburton in a report on Monday, April 3rd. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $48.24.

Halliburton Profile

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Halliburton Co engages in the provision of services and products to the energy industry related to the exploration, development, and production of oil and natural gas. It operates through the Completion and Production, and Drilling and Evaluation segments. The Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion services.