Polaris Wealth Advisory Group LLC purchased a new stake in Halliburton (NYSE:HAL – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,963 shares of the oilfield services company’s stock, valued at approximately $758,000.
A number of other institutional investors have also modified their holdings of the stock. Texas Permanent School Fund Corp boosted its position in Halliburton by 0.4% in the 2nd quarter. Texas Permanent School Fund Corp now owns 189,182 shares of the oilfield services company’s stock worth $6,241,000 after purchasing an additional 697 shares in the last quarter. Desjardins Global Asset Management Inc. grew its position in Halliburton by 8.0% during the second quarter. Desjardins Global Asset Management Inc. now owns 21,507 shares of the oilfield services company’s stock valued at $709,000 after buying an additional 1,596 shares during the period. Mirabella Financial Services LLP acquired a new position in shares of Halliburton in the second quarter worth about $1,100,000. Parallel Advisors LLC boosted its stake in shares of Halliburton by 10.9% during the 2nd quarter. Parallel Advisors LLC now owns 5,680 shares of the oilfield services company’s stock worth $187,000 after acquiring an additional 556 shares in the last quarter. Finally, Ascent Wealth Partners LLC grew its position in shares of Halliburton by 4.7% during the 2nd quarter. Ascent Wealth Partners LLC now owns 166,017 shares of the oilfield services company’s stock valued at $5,291,000 after acquiring an additional 7,455 shares during the period. Hedge funds and other institutional investors own 82.09% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have issued reports on HAL. Raymond James increased their price target on Halliburton from $47.00 to $49.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 17th. Barclays lifted their price target on shares of Halliburton from $49.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Piper Sandler upped their price objective on shares of Halliburton from $46.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, September 11th. UBS Group lifted their target price on shares of Halliburton from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. Finally, Stifel Nicolaus reduced their price target on shares of Halliburton from $49.00 to $48.00 in a research report on Wednesday, July 12th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $49.00.
Insiders Place Their Bets
In related news, EVP Van H. Beckwith sold 5,000 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $42.94, for a total value of $214,700.00. Following the sale, the executive vice president now owns 176,334 shares in the company, valued at approximately $7,571,781.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Van H. Beckwith sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $42.94, for a total value of $214,700.00. Following the completion of the transaction, the executive vice president now owns 176,334 shares of the company’s stock, valued at $7,571,781.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Myrtle L. Jones sold 16,800 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $43.00, for a total transaction of $722,400.00. Following the sale, the insider now directly owns 42,126 shares in the company, valued at $1,811,418. The disclosure for this sale can be found here. Insiders have sold 60,236 shares of company stock worth $2,573,715 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.
Halliburton Stock Up 0.5 %
Shares of NYSE:HAL opened at $40.50 on Monday. The company has a market capitalization of $36.25 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 0.60 and a beta of 2.12. Halliburton has a 12-month low of $27.84 and a 12-month high of $43.85. The business has a 50-day moving average price of $40.78 and a 200 day moving average price of $36.45. The company has a current ratio of 2.14, a quick ratio of 1.53 and a debt-to-equity ratio of 0.85.
Halliburton (NYSE:HAL – Get Free Report) last announced its quarterly earnings results on Tuesday, October 24th. The oilfield services company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. Halliburton had a net margin of 11.52% and a return on equity of 31.61%. The business had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same period last year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. Sell-side analysts expect that Halliburton will post 3.07 EPS for the current year.
Halliburton Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 6th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Tuesday, September 5th. Halliburton’s dividend payout ratio (DPR) is 21.99%.
Halliburton Company Profile
Halliburton Company provides products and services to the energy industry worldwide. It operates in 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; 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; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.
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