UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 286,795 Shares of Halliburton Company $HAL

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Halliburton Company (NYSE:HAL) by 5.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,176,295 shares of the oilfield services company’s stock after buying an additional 286,795 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.62% of Halliburton worth $175,735,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of HAL. Kelleher Financial Advisors bought a new stake in shares of Halliburton in the 3rd quarter worth about $25,000. Newbridge Financial Services Group Inc. bought a new position in Halliburton during the 2nd quarter valued at about $25,000. Kilter Group LLC purchased a new stake in Halliburton in the 2nd quarter worth about $26,000. Meeder Asset Management Inc. purchased a new stake in Halliburton in the 2nd quarter worth about $26,000. Finally, Silvant Capital Management LLC bought a new stake in Halliburton in the second quarter worth about $28,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on HAL. UBS Group cut their target price on Halliburton from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Weiss Ratings restated a “hold (c)” rating on shares of Halliburton in a report on Wednesday, July 8th. Wolfe Research assumed coverage on Halliburton in a research report on Wednesday, July 8th. They issued a “peer perform” rating on the stock. Evercore reiterated an “outperform” rating and issued a $43.00 target price on shares of Halliburton in a research note on Wednesday, July 22nd. Finally, Rothschild & Co Redburn lifted their target price on Halliburton from $40.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Halliburton has an average rating of “Moderate Buy” and an average target price of $43.10.

Halliburton Price Performance

Shares of NYSE:HAL opened at $36.85 on Wednesday. Halliburton Company has a 52-week low of $21.40 and a 52-week high of $43.59. The stock has a market cap of $30.70 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 2.31 and a beta of 0.76. The business’s 50 day moving average is $33.88 and its 200 day moving average is $36.58. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same period last year, the business posted $0.55 EPS. Halliburton’s quarterly revenue was up 3.7% on a year-over-year basis. Sell-side analysts predict that Halliburton Company will post 2.34 EPS for the current year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd will be paid a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.8%. Halliburton’s dividend payout ratio (DPR) is currently 35.60%.

Key Headlines Impacting Halliburton

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Potential Venezuela expansion: Halliburton is reportedly nearing a billion-dollar oil-services opportunity tied to a U.S.-backed effort to rebuild Venezuela’s production infrastructure. The company could benefit from drilling, well-cementing, reservoir evaluation and other services as Chevron and other producers invest in restoring aging fields. Chevron and Halliburton Near Billion-Dollar Venezuela Oil Deals
• Positive Sentiment: Historic U.S.-Venezuela oil agreement: Reports that Washington and Caracas have reached an oil deal are reinforcing expectations for long-term capital spending in Venezuela. As a major oilfield-services provider, HAL may act as a “picks-and-shovels” beneficiary if international producers receive access to reserves and begin upgrading infrastructure. Energy ETFs to Watch as US-Venezuela Sign Historic Oil Deal
• Positive Sentiment: Higher oil prices and geopolitical risk: Energy stocks moved higher as Middle East tensions and reported U.S. strikes supported crude prices. Sustained oil prices could encourage customers to increase exploration and production budgets, improving demand for Halliburton’s services. Chevron, Exxon and Other Oil Stocks Jump as Two Huge Energy Stories Collide
• Positive Sentiment: New-energy diversification: Halliburton has been selected for work on the Cornwall lithium project, highlighting an opportunity to apply its subsurface and well-construction expertise outside traditional oil and gas. The project is strategically interesting, though its near-term earnings impact is uncertain. Cornwall lithium project brings in American oil service titan Halliburton
• Neutral Sentiment: Analyst caution: Wall Street Zen downgraded HAL to “Hold,” suggesting valuation and cyclical oilfield-services risks may already be reflected in the stock. The downgrade was offset by the firm oil-market backdrop, leaving shares broadly steady in the referenced coverage. Halliburton Cut to Hold at Wall Street Zen
• Negative Sentiment: Macro risks: Rising oil prices tied to Middle East conflict could also increase inflation and interest-rate concerns, potentially pressuring broad equity valuations and slowing customer spending if the economic outlook deteriorates. Tesla, PG&E, Nvidia, SLB, Pinterest, and More Stocks That Explain Today’s Market

Insider Activity

In related news, CFO Eric Carre sold 24,778 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.89, for a total value of $889,282.42. Following the completion of the sale, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at $5,330,382.80. This represents a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jeffrey Shannon Slocum sold 52,572 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the transaction, the chief operating officer directly owned 118,730 shares in the company, valued at $4,166,235.70. This trade represents a 30.69% 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. Insiders own 0.57% of the company’s stock.

Halliburton Company 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.