Sei Investments Co. Grows Stock Holdings in Halliburton Company $HAL

Sei Investments Co. raised its holdings in shares of Halliburton Company (NYSE:HAL) by 58.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 601,359 shares of the oilfield services company’s stock after purchasing an additional 222,870 shares during the quarter. Sei Investments Co.’s holdings in Halliburton were worth $23,447,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in HAL. Nvest Wealth Strategies Inc. bought a new position in shares of Halliburton in the 4th quarter valued at about $25,000. Kelleher Financial Advisors purchased a new stake in Halliburton during the third quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. purchased a new stake in Halliburton during the second quarter valued at approximately $25,000. Zions Bancorporation National Association UT lifted its stake in shares of Halliburton by 196.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock valued at $28,000 after purchasing an additional 650 shares during the last quarter. Finally, Strive Asset Management LLC bought a new stake in shares of Halliburton in the 3rd quarter valued at approximately $31,000. 85.23% of the stock is currently owned by institutional investors.

Halliburton Price Performance

Shares of HAL stock opened at $31.27 on Wednesday. The stock has a 50 day moving average price of $36.49 and a 200 day moving average price of $36.50. Halliburton Company has a 52-week low of $20.39 and a 52-week high of $43.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.50 and a current ratio of 2.02. The firm has a market capitalization of $26.05 billion, a P/E ratio of 16.37, a P/E/G ratio of 1.49 and a beta of 0.71.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.Halliburton’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 EPS. As a group, sell-side analysts predict that Halliburton Company will post 2.35 earnings per share for the current year.

Halliburton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, June 3rd. Halliburton’s payout ratio is currently 35.60%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HAL shares. Wolfe Research began coverage on Halliburton in a research report on Wednesday, July 8th. They set a “peer perform” rating on the stock. Stifel Nicolaus restated a “buy” rating and issued a $43.00 price target (up from $36.00) on shares of Halliburton in a research report on Wednesday, April 22nd. HSBC lifted their price objective on shares of Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Morgan Stanley cut their price objective on shares of Halliburton from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Finally, BMO Capital Markets set a $37.00 target price on shares of Halliburton in a report on Wednesday, July 22nd. Eighteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.10.

Insider Activity

In other news, VP Timothy Mckeon sold 8,655 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $42.00, for a total value of $363,510.00. Following the transaction, the vice president directly owned 72,976 shares in the company, valued at approximately $3,064,992. This represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of Halliburton stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.89, for a total transaction of $889,282.42. Following the sale, the chief financial officer owned 148,520 shares of the company’s stock, valued at $5,330,382.80. The trade was a 14.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 258,255 shares of company stock valued at $10,550,535. Insiders own 0.57% of the company’s stock.

About Halliburton

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.