Commonwealth Equity Services LLC Buys 8,048 Shares of Halliburton (NYSE:HAL)

Posted by Defense World Staff on Mar 10th, 2023

Commonwealth Equity Services LLC raised its stake in shares of Halliburton (NYSE:HAL – Get Rating) by 6.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 131,133 shares of the oilfield services company’s stock after purchasing an additional 8,048 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Halliburton were worth $3,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of HAL. Coston McIsaac & Partners bought a new stake in Halliburton during the second quarter valued at approximately $28,000. Bogart Wealth LLC raised its stake in shares of Halliburton by 100.0% during the third quarter. Bogart Wealth LLC now owns 1,150 shares of the oilfield services company’s stock worth $28,000 after acquiring an additional 575 shares in the last quarter. Capital Asset Advisory Services LLC purchased a new position in shares of Halliburton during the second quarter worth approximately $29,000. Hanseatic Management Services Inc. raised its stake in shares of Halliburton by 74.1% during the third quarter. Hanseatic Management Services Inc. now owns 1,266 shares of the oilfield services company’s stock worth $31,000 after acquiring an additional 539 shares in the last quarter. Finally, IMA Wealth Inc. raised its stake in shares of Halliburton by 257.7% during the second quarter. IMA Wealth Inc. now owns 1,073 shares of the oilfield services company’s stock worth $34,000 after acquiring an additional 773 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HAL has been the topic of several research reports. Royal Bank of Canada lifted their price target on shares of Halliburton from $45.00 to $48.00 in a research note on Wednesday, January 25th. Wells Fargo & Company lifted their price target on shares of Halliburton from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 25th. Barclays lifted their price target on shares of Halliburton from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 25th. The Goldman Sachs Group lifted their target price on shares of Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, January 30th. Finally, HSBC lifted their target price on shares of Halliburton from $43.90 to $57.00 and gave the stock a “buy” rating in a research note on Monday, January 30th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $48.67.

Insider Activity

In other news, EVP Van H. Beckwith sold 9,006 shares of the business’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $37.75, for a total transaction of $339,976.50. Following the sale, the executive vice president now owns 234,691 shares in the company, valued at approximately $8,859,585.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Margaret Katherine Banks sold 2,769 shares of the business’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $38.79, for a total transaction of $107,409.51. Following the sale, the director now owns 11,856 shares in the company, valued at approximately $459,894.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Van H. Beckwith sold 9,006 shares of the business’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $37.75, for a total transaction of $339,976.50. Following the sale, the executive vice president now owns 234,691 shares in the company, valued at approximately $8,859,585.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,878 shares of company stock worth $1,763,947. Corporate insiders own 0.57% of the company’s stock.

Halliburton Stock Down 4.3 %

Shares of Halliburton stock opened at $35.57 on Friday. The company has a current ratio of 2.05, a quick ratio of 1.50 and a debt-to-equity ratio of 0.99. The company’s fifty day simple moving average is $39.07 and its two-hundred day simple moving average is $35.24. The company has a market cap of $32.16 billion, a P/E ratio of 20.56, a PEG ratio of 0.28 and a beta of 2.12. Halliburton has a 12-month low of $23.30 and a 12-month high of $43.99.

Halliburton (NYSE:HAL – Get Rating) last issued its quarterly earnings data on Tuesday, January 24th. The oilfield services company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.05. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.59 billion. Halliburton had a net margin of 7.74% and a return on equity of 26.25%. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 EPS. Research analysts anticipate that Halliburton will post 3.08 EPS for the current year.

Halliburton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 1st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Tuesday, February 28th. This is a boost from Halliburton’s previous quarterly dividend of $0.12. Halliburton’s payout ratio is 36.99%.

About Halliburton

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Halliburton Co engages in the provision of services and products to the energy industry related to the exploration, development, and production of oil and natural gas. It operates through the Completion and Production, and Drilling and Evaluation segments. The Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion services.