NewEdge Advisors LLC Raises Stock Holdings in Halliburton Company $HAL

NewEdge Advisors LLC raised its stake in Halliburton Company (NYSE:HAL) by 25.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 121,970 shares of the oilfield services company’s stock after buying an additional 25,000 shares during the quarter. NewEdge Advisors LLC’s holdings in Halliburton were worth $4,756,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of HAL. Nvest Wealth Strategies Inc. purchased a new stake in shares of Halliburton in the 4th quarter valued at approximately $25,000. Kelleher Financial Advisors purchased a new position in shares of Halliburton during the 3rd quarter worth approximately $25,000. Newbridge Financial Services Group Inc. acquired a new stake in Halliburton in the 2nd quarter valued at approximately $25,000. Zions Bancorporation National Association UT increased its holdings in 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 purchased a new stake in Halliburton in the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HAL shares. Susquehanna dropped their price objective on Halliburton from $45.00 to $42.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. JPMorgan Chase & Co. increased their target price on Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Wall Street Zen raised Halliburton from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. Zephirin Group boosted their price target on shares of Halliburton from $30.00 to $31.00 and gave the stock a “sell” rating in a research note on Wednesday, April 22nd. Finally, Piper Sandler upgraded shares of Halliburton from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $40.00 to $43.00 in a research note on Tuesday, July 14th. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.10.

Insider Activity at Halliburton

In other Halliburton news, CFO Eric Carre sold 24,778 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $35.89, for a total value of $889,282.42. Following the sale, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at approximately $5,330,382.80. This represents a 14.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Van H. Beckwith sold 198,349 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $41.29, for a total value of $8,189,830.21. Following the completion of the transaction, the executive vice president directly owned 146,186 shares in the company, valued at $6,036,019.94. This trade represents a 57.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is owned by company insiders.

Halliburton Trading Up 0.3%

HAL opened at $33.76 on Wednesday. The business has a fifty day moving average price of $34.83 and a 200 day moving average price of $36.48. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.50. Halliburton Company has a 12 month low of $20.53 and a 12 month high of $43.59. The stock has a market capitalization of $28.12 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 2.10 and a beta of 0.73.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.Halliburton’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 EPS. Sell-side analysts expect that Halliburton Company will post 2.34 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.68 annualized dividend and a yield of 2.0%. Halliburton’s dividend payout ratio (DPR) is 35.60%.

Halliburton Profile

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.