Freestone Grove Partners LP Makes New Investment in Halliburton Company $HAL

Freestone Grove Partners LP bought a new position in Halliburton Company (NYSE:HAL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,227,062 shares of the oilfield services company’s stock, valued at approximately $41,659,000. Freestone Grove Partners LP owned about 0.15% of Halliburton as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Kelleher Financial Advisors bought a new position in shares of Halliburton during the third quarter worth about $25,000. Newbridge Financial Services Group Inc. bought a new stake in Halliburton in the second quarter valued at about $25,000. Kilter Group LLC bought a new stake in Halliburton in the second quarter valued at about $26,000. Meeder Asset Management Inc. acquired a new stake in Halliburton during the second quarter valued at approximately $26,000. Finally, Silvant Capital Management LLC acquired a new stake in Halliburton during the second quarter valued at approximately $28,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Stock Performance

HAL stock opened at $34.40 on Thursday. Halliburton Company has a 1 year low of $21.40 and a 1 year high of $43.59. The stock has a market capitalization of $28.66 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 2.12 and a beta of 0.73. 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 stock’s fifty day moving average is $33.78 and its two-hundred day moving average is $36.54.

Halliburton (NYSE:HAL) last released its quarterly earnings results 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 net margin of 7.16% and a return on equity of 18.71%. The business had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.50 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, research analysts predict that Halliburton Company will post 2.34 EPS for the current year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, September 2nd. Halliburton’s payout ratio is presently 35.60%.

Insider Activity

In other Halliburton news, COO Jeffrey Shannon Slocum sold 52,572 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total value of $1,844,751.48. Following the completion of the transaction, the chief operating officer owned 118,730 shares in the company, valued at approximately $4,166,235.70. This represents a 30.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $35.89, for a total transaction of $889,282.42. Following the completion of the sale, the chief financial officer owned 148,520 shares in the company, 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. 0.57% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Halliburton

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: BP awards Halliburton an integrated Bumerangue contract: Halliburton will provide drilling, reservoir evaluation and digital technologies for BP’s first appraisal campaign at the Bumerangue discovery offshore Brazil. The contract expands HAL’s deepwater backlog and demonstrates demand for its integrated oilfield services, though near-term revenue and profit contributions remain unclear. Halliburton Wins BP Contract for Bumerangue Field Appraisal
• Positive Sentiment: Relative strength attracts investor attention: Halliburton finished higher even as the overall market weakened, indicating favorable investor reaction and relative strength. Market coverage identified the BP contract and the stock’s performance versus broader indexes as key developments. Halliburton Rises As Market Takes a Dip: Key Facts
• Neutral Sentiment: Dividend remains intact: Halliburton declared a quarterly dividend of $0.17 per share, payable September 23 to shareholders of record September 2. The payment supports the stock’s income appeal, but the dividend announcement was expected and is unlikely to materially change valuation. Halliburton Company Dividend Announcement
• Neutral Sentiment: Brokerage consensus is “Moderate Buy”: Analysts generally remain constructive on HAL, providing a supportive backdrop but not a major new catalyst for the stock. Halliburton Given Moderate Buy Recommendation
• Neutral Sentiment: Potential lithium-related work: Halliburton is reportedly set to begin test drilling at a lithium site in Cornwall, UK. The project could broaden the company’s technology applications, but it is early-stage and has no clear near-term earnings impact. US Oil Industry Giant to Start Test Drilling at Cornish Lithium Site

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HAL. Citigroup lifted their target price on Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Freedom Capital upgraded Halliburton from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 22nd. TD Cowen decreased their price target on shares of Halliburton from $48.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Barclays lowered their price objective on shares of Halliburton from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Finally, Rothschild & Co Redburn raised their target price on shares of Halliburton from $40.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.10.

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.