Moors & Cabot Inc. Increases Stock Holdings in Halliburton (NYSE:HAL)

Moors & Cabot Inc. grew its holdings in shares of Halliburton (NYSE:HAL) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,179 shares of the oilfield services company’s stock after purchasing an additional 2,410 shares during the period. Moors & Cabot Inc.’s holdings in Halliburton were worth $2,678,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in HAL. Nwam LLC increased its position in shares of Halliburton by 1.4% during the second quarter. Nwam LLC now owns 46,362 shares of the oilfield services company’s stock worth $1,529,000 after acquiring an additional 657 shares during the period. Cetera Advisors LLC grew its stake in Halliburton by 3.1% during the 2nd quarter. Cetera Advisors LLC now owns 31,637 shares of the oilfield services company’s stock worth $1,044,000 after purchasing an additional 937 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Halliburton by 1.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,247,088 shares of the oilfield services company’s stock worth $173,101,000 after purchasing an additional 75,114 shares during the period. Cetera Investment Advisers raised its position in Halliburton by 0.8% in the 2nd quarter. Cetera Investment Advisers now owns 56,621 shares of the oilfield services company’s stock valued at $1,868,000 after purchasing an additional 442 shares in the last quarter. Finally, Burney Co. acquired a new position in shares of Halliburton during the second quarter worth about $2,392,000. Institutional investors and hedge funds own 82.09% of the company’s stock.

Halliburton Trading Down 3.3 %

Shares of Halliburton stock traded down $1.25 during mid-day trading on Thursday, hitting $37.19. 1,044,920 shares of the stock were exchanged, compared to its average volume of 8,476,927. The company has a 50-day simple moving average of $40.60 and a 200 day simple moving average of $36.74. The company has a current ratio of 2.14, a quick ratio of 1.53 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $33.29 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 0.59 and a beta of 2.12. Halliburton has a twelve month low of $27.84 and a twelve month high of $43.85.

Halliburton (NYSE:HAL) last announced its earnings results on Tuesday, October 24th. The oilfield services company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.85 billion. Halliburton had a net margin of 11.52% and a return on equity of 31.61%. Halliburton’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 earnings per share. Research analysts forecast that Halliburton will post 3.07 EPS for the current year.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Tuesday, September 5th. Halliburton’s dividend payout ratio is currently 21.99%.

Wall Street Analyst Weigh In

HAL has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on Halliburton from $53.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, October 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $45.00 price target on shares of Halliburton in a research report on Tuesday, August 1st. Raymond James increased their price objective on Halliburton from $47.00 to $49.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 17th. Piper Sandler upped their price target on shares of Halliburton from $46.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, September 11th. Finally, Susquehanna lifted their price objective on shares of Halliburton from $48.00 to $51.00 and gave the company a “positive” rating in a research note on Wednesday, October 25th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $49.00.

Insider Activity

In related news, EVP Van H. Beckwith sold 5,000 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $43.00, for a total transaction of $215,000.00. Following the transaction, the executive vice president now directly owns 186,334 shares in the company, valued at $8,012,362. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Jill D. Sharp sold 13,103 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $43.00, for a total transaction of $563,429.00. Following the completion of the transaction, the senior vice president now owns 45,078 shares of the company’s stock, valued at $1,938,354. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Van H. Beckwith sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $43.00, for a total transaction of $215,000.00. Following the sale, the executive vice president now directly owns 186,334 shares of the company’s stock, valued at $8,012,362. The disclosure for this sale can be found here. Insiders sold a total of 60,236 shares of company stock valued at $2,573,715 over the last quarter. Company insiders own 0.60% of the company’s stock.

About Halliburton

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.