Halliburton Company $HAL Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC lowered its stake in Halliburton Company (NYSE:HAL) by 34.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 63,685 shares of the oilfield services company’s stock after selling 33,285 shares during the period. NewEdge Advisors LLC’s holdings in Halliburton were worth $2,336,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nvest Wealth Strategies Inc. bought a new stake in shares of Halliburton during the 4th quarter worth $25,000. Kelleher Financial Advisors acquired a new stake in shares of Halliburton during the third quarter worth $25,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Halliburton during the second quarter worth $25,000. Zions Bancorporation National Association UT lifted its holdings in shares of Halliburton by 196.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock valued at $28,000 after purchasing an additional 650 shares during the last quarter. Finally, Strive Asset Management LLC purchased a new stake in shares of Halliburton during the third quarter valued at $31,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Stock Performance

Shares of HAL stock opened at $32.22 on Friday. Halliburton Company has a fifty-two week low of $20.39 and a fifty-two week high of $43.59. The stock’s 50-day moving average is $35.88 and its two-hundred day moving average is $36.46. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.50. The firm has a market cap of $26.84 billion, a P/E ratio of 16.87, a PEG ratio of 1.98 and a beta of 0.71.

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

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, June 3rd. Halliburton’s dividend payout ratio (DPR) is presently 35.60%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on HAL shares. Jefferies Financial Group reissued a “buy” rating and issued a $47.00 price target on shares of Halliburton in a research note on Sunday, April 26th. Piper Sandler raised shares of Halliburton from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $43.00 in a research note on Tuesday, July 14th. TD Cowen decreased their target price on shares of Halliburton from $48.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Royal Bank Of Canada lifted their target price on shares of Halliburton from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Citigroup boosted their price target on shares of Halliburton from $47.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Halliburton presently has an average rating of “Moderate Buy” and a consensus target price of $43.10.

Insider Buying and Selling at Halliburton

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

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 support a proposed gas-to-power project linked to an artificial-intelligence data center in Australia’s Northern Territory. The opportunity could create future work in drilling, production and energy infrastructure, although it is not yet a firm contract. Reuters article
• Positive Sentiment: Brokerages maintain a consensus “Moderate Buy” recommendation for HAL, offering some support after the stock’s recent weakness. Halliburton consensus recommendation
• Neutral Sentiment: Halliburton stock rose in the latest session but continued to underperform the broader market, indicating that investors remain cautious despite the recent bounce. MarketWatch stock performance article
• Negative Sentiment: UBS said Halliburton’s soft third-quarter guidance is weighing on the stock. The cautious outlook raises concerns about weaker oilfield-services demand, pricing or international activity in the near term. UBS Halliburton outlook 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.