Carlson Capital L.P. Takes Position in Halliburton Company $HAL

Carlson Capital L.P. acquired a new stake in Halliburton Company (NYSE:HAL) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,229 shares of the oilfield services company’s stock, valued at approximately $1,724,000.

A number of other hedge funds have also recently bought and sold shares of the company. Nvest Wealth Strategies Inc. acquired a new position in shares of Halliburton in the 4th quarter worth approximately $25,000. Kelleher Financial Advisors acquired a new stake in Halliburton during the third quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. bought a new stake in Halliburton during the second quarter worth approximately $25,000. Zions Bancorporation National Association UT boosted its holdings in Halliburton by 196.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock worth $28,000 after buying an additional 650 shares in the last quarter. Finally, Strive Asset Management LLC acquired a new position in Halliburton in the third quarter worth approximately $31,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Halliburton

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton signed a non-binding memorandum of understanding with Beetaloo Energy to support a proposed gas-to-power project linked to an artificial-intelligence data center in Australia’s Northern Territory. The opportunity could create future work in drilling, production and energy infrastructure, although it is not yet a firm contract. Reuters article
• Positive Sentiment: Brokerages maintain a consensus “Moderate Buy” recommendation for HAL, offering some support after the stock’s recent weakness. Halliburton consensus recommendation
• Neutral Sentiment: Halliburton stock rose in the latest session but continued to underperform the broader market, indicating that investors remain cautious despite the recent bounce. MarketWatch stock performance article
• Negative Sentiment: UBS said Halliburton’s soft third-quarter guidance is weighing on the stock. The cautious outlook raises concerns about weaker oilfield-services demand, pricing or international activity in the near term. UBS Halliburton outlook article

Halliburton Stock Up 1.8%

NYSE:HAL opened at $32.22 on Friday. The business’s fifty day moving average price is $35.88 and its 200 day moving average price is $36.46. The firm has a market capitalization of $26.84 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 1.98 and a beta of 0.71. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64. Halliburton Company has a 1-year low of $20.39 and a 1-year high of $43.59.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The firm had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.50 billion. During the same period last year, the company posted $0.55 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts forecast that Halliburton Company will post 2.35 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Wednesday, June 3rd. Halliburton’s dividend payout ratio (DPR) is currently 35.60%.

Insider Buying and Selling

In related news, EVP Van H. Beckwith sold 198,349 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $41.29, for a total transaction of $8,189,830.21. Following the transaction, the executive vice president directly owned 146,186 shares of the company’s stock, valued at approximately $6,036,019.94. The trade was a 57.57% decrease in their ownership of the stock. The sale 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, insider Michael Casey Maxwell sold 20,348 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $41.89, for a total transaction of $852,377.72. Following the transaction, the insider owned 93,763 shares in the company, valued at approximately $3,927,732.07. This represents a 17.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 243,475 shares of company stock worth $9,931,490. 0.57% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HAL. Morgan Stanley reduced their price objective on Halliburton from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. BMO Capital Markets set a $37.00 target price on Halliburton in a research report on Wednesday, July 22nd. Susquehanna reduced their target price on Halliburton from $45.00 to $42.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. Wolfe Research initiated coverage on Halliburton in a research report on Wednesday, July 8th. They issued a “peer perform” rating for the company. Finally, Zephirin Group lifted their price target on Halliburton from $30.00 to $31.00 and gave the stock a “sell” rating in a research note on Wednesday, April 22nd. Eighteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.10.

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.