HB Wealth Management LLC Acquires 2,424 Shares of Halliburton (NYSE:HAL)

Posted by Defense World Staff on Sep 25th, 2023

HB Wealth Management LLC boosted its position in Halliburton (NYSE:HAL – Free Report) by 31.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,220 shares of the oilfield services company’s stock after acquiring an additional 2,424 shares during the period. HB Wealth Management LLC’s holdings in Halliburton were worth $337,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. increased its position in shares of Halliburton by 259.5% during the first quarter. Sei Investments Co. now owns 166,407 shares of the oilfield services company’s stock valued at $6,281,000 after acquiring an additional 120,122 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Halliburton by 70.5% during the first quarter. Canada Pension Plan Investment Board now owns 128,001 shares of the oilfield services company’s stock valued at $4,847,000 after acquiring an additional 52,933 shares during the last quarter. Prudential PLC purchased a new stake in shares of Halliburton during the first quarter valued at approximately $696,000. Parkside Financial Bank & Trust increased its position in shares of Halliburton by 81.5% during the first quarter. Parkside Financial Bank & Trust now owns 2,347 shares of the oilfield services company’s stock valued at $89,000 after acquiring an additional 1,054 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of Halliburton by 83.7% during the first quarter. Covestor Ltd now owns 3,384 shares of the oilfield services company’s stock valued at $128,000 after acquiring an additional 1,542 shares during the last quarter. Institutional investors own 82.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on HAL. Susquehanna increased their price target on Halliburton from $42.00 to $44.00 and gave the company a “positive” rating in a research report on Thursday, July 20th. JPMorgan Chase & Co. decreased their target price on Halliburton from $50.00 to $45.00 in a research report on Thursday, July 20th. Piper Sandler raised their target price on Halliburton from $46.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, September 11th. Barclays decreased their target price on Halliburton from $58.00 to $49.00 in a research report on Thursday, July 20th. Finally, Stifel Nicolaus decreased their target price on Halliburton from $49.00 to $48.00 in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Halliburton has an average rating of “Buy” and an average price target of $48.21.

View Our Latest Analysis on Halliburton

Halliburton Trading Down 0.3 %

NYSE HAL opened at $40.63 on Monday. The stock’s 50-day simple moving average is $39.60 and its two-hundred day simple moving average is $34.71. Halliburton has a twelve month low of $23.30 and a twelve month high of $43.42. The company has a quick ratio of 1.53, a current ratio of 2.14 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $36.51 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 0.67 and a beta of 2.18.

Halliburton (NYSE:HAL – Get Free Report) last released its quarterly earnings results on Wednesday, July 19th. The oilfield services company reported $0.77 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter last year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. Research analysts forecast that Halliburton will post 3.04 EPS for the current fiscal year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 6th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, September 5th. This represents a $0.64 dividend on an annualized basis and a yield of 1.58%. Halliburton’s payout ratio is 23.53%.

Insider Buying and Selling at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $43.00, for a total transaction of $215,000.00. Following the sale, the executive vice president now owns 186,334 shares in the company, valued at $8,012,362. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Timothy Mckeon sold 3,952 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $40.00, for a total value of $158,080.00. Following the completion of the sale, the vice president now owns 53,803 shares of the company’s stock, valued at approximately $2,152,120. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Van H. Beckwith sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $43.00, for a total value of $215,000.00. Following the completion of the sale, the executive vice president now directly owns 186,334 shares of the company’s stock, valued at approximately $8,012,362. The disclosure for this sale can be found here. Insiders have sold 237,502 shares of company stock worth $9,278,138 over the last 90 days. Corporate 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.