Stephens Inc. AR Invests $311,000 in Halliburton (NYSE:HAL)

Posted by Defense World Staff on Apr 8th, 2023

Stephens Inc. AR acquired a new position in shares of Halliburton (NYSE:HAL – Get Rating) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,895 shares of the oilfield services company’s stock, valued at approximately $311,000.

Other hedge funds have also modified their holdings of the company. Quadrant Capital Group LLC raised its holdings in shares of Halliburton by 10.2% during the 3rd quarter. Quadrant Capital Group LLC now owns 4,233 shares of the oilfield services company’s stock worth $104,000 after acquiring an additional 393 shares in the last quarter. Teza Capital Management LLC purchased a new stake in shares of Halliburton during the 3rd quarter worth approximately $861,000. Utah Retirement Systems raised its holdings in shares of Halliburton by 0.4% during the 3rd quarter. Utah Retirement Systems now owns 160,740 shares of the oilfield services company’s stock worth $3,957,000 after acquiring an additional 600 shares in the last quarter. Worth Asset Management LLC purchased a new stake in shares of Halliburton during the 4th quarter worth approximately $27,000. Finally, Xponance Inc. raised its holdings in shares of Halliburton by 13.1% during the 4th quarter. Xponance Inc. now owns 156,191 shares of the oilfield services company’s stock worth $6,146,000 after acquiring an additional 18,146 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Halliburton Price Performance

HAL opened at $32.71 on Friday. Halliburton has a 12-month low of $23.30 and a 12-month high of $43.99. 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 business’s fifty day simple moving average is $35.40 and its 200-day simple moving average is $35.51. The company has a market capitalization of $29.57 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 0.25 and a beta of 2.11.

Halliburton (NYSE:HAL – Get Rating) last posted its quarterly earnings results on Tuesday, January 24th. The oilfield services company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. Halliburton had a return on equity of 26.25% and a net margin of 7.74%. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter in the prior year, the company earned $0.92 EPS. The business’s revenue was up 30.5% compared to the same quarter last year. On average, equities research analysts anticipate that Halliburton will post 3.09 earnings per share for the current fiscal year.

Halliburton Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 29th. Investors of record on Wednesday, March 1st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $0.64 dividend on an annualized basis and a yield of 1.96%. This is an increase from Halliburton’s previous quarterly dividend of $0.12. Halliburton’s dividend payout ratio (DPR) is presently 36.99%.

Insider Activity at Halliburton

In related news, Director Margaret Katherine Banks sold 2,769 shares of the firm’s stock in a transaction dated Friday, February 10th. The stock was 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 of the company’s stock, valued at $459,894.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Halliburton news, EVP Van H. Beckwith sold 4,493 shares of the stock in a transaction dated Thursday, January 19th. The stock was sold at an average price of $40.41, for a total value of $181,562.13. Following the completion of the sale, the executive vice president now directly owns 191,334 shares in the company, valued at $7,731,806.94. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Margaret Katherine Banks sold 2,769 shares of the stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $38.79, for a total value of $107,409.51. Following the completion of the sale, the director now owns 11,856 shares of the company’s stock, valued at $459,894.24. The disclosure for this sale can be found here. Insiders have sold a total of 11,557 shares of company stock valued at $471,939 over the last quarter. 0.57% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on HAL shares. Morgan Stanley increased their price target on Halliburton from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, January 4th. HSBC increased their price target on Halliburton from $43.90 to $57.00 and gave the company a “buy” rating in a report on Monday, January 30th. Citigroup decreased their price target on Halliburton from $47.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, March 22nd. Barclays increased their price target on Halliburton from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, January 25th. Finally, Raymond James started coverage on Halliburton in a report on Friday, December 9th. They set a “strong-buy” rating and a $53.00 price target on the stock. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.78.

Halliburton Profile

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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.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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