MGO One Seven LLC Boosts Holdings in Halliburton (NYSE:HAL)

Posted by Defense World Staff on Aug 15th, 2023

MGO One Seven LLC lifted its position in Halliburton (NYSE:HAL – Free Report) by 99.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,362 shares of the oilfield services company’s stock after acquiring an additional 5,664 shares during the quarter. MGO One Seven LLC’s holdings in Halliburton were worth $360,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Clear Street Markets LLC purchased a new stake in shares of Halliburton during the fourth quarter valued at $336,000. Highland Capital Management LLC purchased a new stake in shares of Halliburton in the fourth quarter valued at approximately $356,000. Cibc World Markets Corp raised its position in Halliburton by 675.7% during the 4th quarter. Cibc World Markets Corp now owns 106,754 shares of the oilfield services company’s stock valued at $4,201,000 after purchasing an additional 92,992 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in shares of Halliburton by 69.6% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 7,227 shares of the oilfield services company’s stock worth $284,000 after buying an additional 2,967 shares during the period. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Halliburton by 3.1% in the first quarter. Asset Management One Co. Ltd. now owns 388,559 shares of the oilfield services company’s stock valued at $12,294,000 after acquiring an additional 11,592 shares in the last quarter. 84.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on HAL shares. Capital One Financial began coverage on shares of Halliburton in a report on Wednesday, June 7th. They issued an “overweight” rating and a $41.00 price target for the company. StockNews.com cut shares of Halliburton from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Stifel Nicolaus dropped their target price on Halliburton from $49.00 to $48.00 in a research note on Wednesday, July 12th. Barclays cut their price objective on shares of Halliburton from $58.00 to $49.00 in a report on Thursday, July 20th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Halliburton from $50.00 to $45.00 in a report on Thursday, July 20th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Halliburton has an average rating of “Buy” and a consensus target price of $47.47.

Check Out Our Latest Research Report on HAL

Insider Activity at Halliburton

In related news, CFO Eric Carre sold 66,589 shares of Halliburton stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $35.00, for a total value of $2,330,615.00. Following the sale, the chief financial officer now directly owns 128,619 shares in the company, valued at $4,501,665. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Halliburton news, CFO Eric Carre sold 66,589 shares of the company’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $35.00, for a total value of $2,330,615.00. Following the sale, the chief financial officer now owns 128,619 shares of the company’s stock, valued at $4,501,665. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Timothy Mckeon sold 3,952 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $40.00, for a total transaction of $158,080.00. Following the completion of the sale, the vice president now directly owns 53,803 shares in the company, valued at $2,152,120. The disclosure for this sale can be found here. Insiders sold a total of 187,266 shares of company stock valued at $7,133,323 in the last three months. 0.60% of the stock is currently owned by company insiders.

Halliburton Stock Performance

NYSE:HAL opened at $40.31 on Tuesday. The company has a market cap of $36.22 billion, a P/E ratio of 14.82, a P/E/G ratio of 0.68 and a beta of 2.17. Halliburton has a twelve month low of $23.30 and a twelve month high of $43.42. The company’s 50-day moving average price is $35.43 and its 200-day moving average price is $34.29. The company has a current ratio of 2.14, a quick ratio of 1.53 and a debt-to-equity ratio of 0.91.

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

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 28th. Stockholders of record on Wednesday, June 7th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, June 6th. This represents a $0.64 annualized dividend and a dividend yield of 1.59%. Halliburton’s dividend payout ratio is presently 23.53%.

Halliburton Company 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.