Pallas Capital Advisors LLC Takes $1.05 Million Position in Halliburton Company $HAL

Pallas Capital Advisors LLC bought a new position in shares of Halliburton Company (NYSE:HAL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 30,887 shares of the oilfield services company’s stock, valued at approximately $1,049,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in HAL. Nvest Wealth Strategies Inc. bought a new position in Halliburton in the 4th quarter valued at about $25,000. Kelleher Financial Advisors bought a new stake in Halliburton during the 3rd quarter worth approximately $25,000. Newbridge Financial Services Group Inc. bought a new stake in Halliburton during the 2nd quarter worth approximately $25,000. Zions Bancorporation National Association UT raised its stake in shares of Halliburton by 196.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock worth $28,000 after purchasing an additional 650 shares during the last quarter. Finally, Matrix Trust Co purchased a new stake in shares of Halliburton in the second quarter worth approximately $29,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Wall Street Analyst Weigh In

HAL has been the topic of several analyst reports. Zephirin Group lifted their target price on Halliburton from $30.00 to $31.00 and gave the company a “sell” rating in a research report on Wednesday, April 22nd. Stifel Nicolaus reissued a “buy” rating and issued a $43.00 price target (up from $36.00) on shares of Halliburton in a research report on Wednesday, April 22nd. Susquehanna dropped their price objective on Halliburton from $45.00 to $42.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. Citigroup lifted their price objective on shares of Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Finally, Griffin Securities upgraded shares of Halliburton from a “neutral” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Wednesday, April 22nd. 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. Based on data from MarketBeat, Halliburton currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.10.

Halliburton Price Performance

Shares of NYSE HAL opened at $34.77 on Wednesday. Halliburton Company has a twelve month low of $20.78 and a twelve month high of $43.59. The stock’s 50 day moving average price is $34.21 and its 200-day moving average price is $36.48. The company has a market capitalization of $28.97 billion, a PE ratio of 18.20, a PEG ratio of 2.15 and a beta of 0.73. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64.

Halliburton (NYSE:HAL) last released its 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 company 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%.Halliburton’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. On average, equities analysts anticipate that Halliburton Company will post 2.34 EPS for the current year.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Wednesday, June 3rd. Halliburton’s dividend payout ratio is 35.60%.

Insider Activity

In other news, CFO Eric Carre sold 24,778 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total transaction of $889,282.42. Following the completion of the sale, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at $5,330,382.80. This trade represents a 14.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is currently owned by corporate insiders.

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.