7,388 Shares in Halliburton (NYSE:HAL) Acquired by Great Valley Advisor Group Inc.

Posted by Defense World Staff on Jul 30th, 2023

Great Valley Advisor Group Inc. acquired a new position in shares of Halliburton (NYSE:HAL – Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,388 shares of the oilfield services company’s stock, valued at approximately $234,000.

Several other large investors have also recently modified their holdings of HAL. Norges Bank bought a new position in shares of Halliburton during the 4th quarter worth approximately $457,245,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Halliburton by 123.0% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 15,936,342 shares of the oilfield services company’s stock worth $627,088,000 after purchasing an additional 8,791,319 shares during the last quarter. Morgan Stanley grew its position in Halliburton by 65.5% during the 4th quarter. Morgan Stanley now owns 17,217,776 shares of the oilfield services company’s stock worth $677,520,000 after purchasing an additional 6,815,373 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in Halliburton by 30.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,428,444 shares of the oilfield services company’s stock worth $449,709,000 after purchasing an additional 2,682,418 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in Halliburton during the 4th quarter worth approximately $99,039,000. Institutional investors own 84.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HAL. JPMorgan Chase & Co. dropped their target price on shares of Halliburton from $50.00 to $45.00 in a research report on Thursday, July 20th. HSBC dropped their target price on shares of Halliburton from $57.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Stifel Nicolaus dropped their target price on shares of Halliburton from $49.00 to $48.00 in a research report on Wednesday, July 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Halliburton in a report on Friday, July 21st. Finally, Benchmark reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Halliburton in a report on Monday, April 3rd. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Halliburton currently has a consensus rating of “Buy” and an average price target of $47.47.

Halliburton Stock Performance

Shares of NYSE HAL opened at $38.16 on Friday. The company’s fifty day moving average price is $33.53 and its 200 day moving average price is $34.44. Halliburton has a 1 year low of $23.30 and a 1 year high of $43.42. The company has a market capitalization of $34.29 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 0.63 and a beta of 2.13. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.53 and a current ratio of 2.14.

Halliburton (NYSE:HAL – Get Free Report) last posted its quarterly earnings data on Wednesday, July 19th. The oilfield services company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Halliburton had a net margin of 10.98% and a return on equity of 31.01%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. On average, research analysts predict that Halliburton will post 3.04 earnings per share for the current year.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 7th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Tuesday, June 6th. Halliburton’s dividend payout ratio is presently 23.53%.

Insiders Place Their Bets

In other Halliburton news, SVP Jill D. Sharp sold 3,686 shares of the company’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $38.00, for a total transaction of $140,068.00. Following the completion of the transaction, the senior vice president now directly owns 52,109 shares in the company, valued at $1,980,142. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Myrtle L. Jones sold 10,000 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $38.30, for a total value of $383,000.00. Following the completion of the sale, the insider now directly owns 57,126 shares in the company, valued at $2,187,925.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jill D. Sharp sold 3,686 shares of the stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $38.00, for a total transaction of $140,068.00. Following the completion of the sale, the senior vice president now owns 52,109 shares of the company’s stock, valued at $1,980,142. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 363,623 shares of company stock worth $11,429,183. Company insiders own 0.60% of the company’s stock.

Halliburton Profile

(Free Report)

Halliburton Company provides products and services to the energy industry worldwide. It operates in two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.