Edgestream Partners L.P. Makes New Investment in Halliburton Company $HAL

Edgestream Partners L.P. purchased a new position in Halliburton Company (NYSE:HAL) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 149,735 shares of the oilfield services company’s stock, valued at approximately $5,838,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kensington Investment Counsel LLC bought a new position in Halliburton in the 1st quarter worth $3,214,000. Kentucky Retirement Systems raised its holdings in Halliburton by 30.1% during the first quarter. Kentucky Retirement Systems now owns 70,031 shares of the oilfield services company’s stock valued at $2,731,000 after acquiring an additional 16,207 shares during the period. Janus Henderson Group PLC raised its holdings in Halliburton by 80.0% during the first quarter. Janus Henderson Group PLC now owns 91,732 shares of the oilfield services company’s stock valued at $3,577,000 after acquiring an additional 40,781 shares during the period. Bull Harbor Capital LLC purchased a new position in shares of Halliburton in the first quarter valued at about $769,000. Finally, Arkadios Wealth Advisors lifted its position in shares of Halliburton by 102.2% in the first quarter. Arkadios Wealth Advisors now owns 87,239 shares of the oilfield services company’s stock valued at $3,401,000 after acquiring an additional 44,092 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HAL. Piper Sandler upgraded Halliburton from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $43.00 in a research report on Tuesday, July 14th. TD Cowen dropped their price target on Halliburton from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $43.00 price objective (up from $36.00) on shares of Halliburton in a report on Wednesday, April 22nd. Rothschild & Co Redburn boosted their target price on shares of Halliburton from $40.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.10.

Insider Activity at Halliburton

In related news, EVP Van H. Beckwith sold 198,349 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $41.29, for a total value of $8,189,830.21. Following the sale, the executive vice president directly owned 146,186 shares of the company’s stock, valued at $6,036,019.94. This represents a 57.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Casey Maxwell sold 20,348 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $41.89, for a total value of $852,377.72. Following the transaction, the insider directly owned 93,763 shares in the company, valued at approximately $3,927,732.07. This represents a 17.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 243,475 shares of company stock worth $9,931,490. Insiders own 0.57% of the company’s stock.

Halliburton Trading Up 1.5%

Shares of HAL stock opened at $31.66 on Friday. The company has a market cap of $26.37 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 1.95 and a beta of 0.71. Halliburton Company has a 1 year low of $20.39 and a 1 year high of $43.59. The stock’s 50 day simple moving average is $36.06 and its two-hundred day simple moving average is $36.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.50.

Halliburton (NYSE:HAL) last announced its earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The firm had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. Research analysts predict that Halliburton Company will post 2.35 earnings per share for the current year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.1%. Halliburton’s payout ratio is currently 35.60%.

Halliburton News Summary

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton signed a non-binding memorandum of understanding with Beetaloo Energy to help advance a proposed gas-to-power project linked to an artificial-intelligence data center in Australia’s Northern Territory. The potential work could involve Halliburton supporting gas development and a natural-gas power plant, creating exposure to rising energy demand from data centers. Reuters article
• Positive Sentiment: The Beetaloo agreement expands Halliburton’s potential role beyond traditional oilfield services into gas infrastructure supporting AI-related electricity demand. However, the agreement is preliminary and does not yet represent a firm contract or meaningful near-term revenue contribution. Beetaloo Energy MOU article
• Neutral Sentiment: Positive results from oilfield-equipment peer NOV and strong production at Expand Energy suggest some resilience across the broader energy-services and production markets. Nevertheless, these companies’ results have limited direct impact on Halliburton’s earnings. NOV earnings article
• Negative Sentiment: UBS said Halliburton’s softer third-quarter guidance is weighing on the stock. The cautious outlook raises concerns about near-term earnings momentum despite Halliburton’s recent quarterly earnings and revenue beat, leaving investors focused on weaker operating conditions and the timing of any recovery. Halliburton soft Q3 guidance article

Halliburton Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.