Halliburton Company $HAL Shares Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC raised its position in Halliburton Company (NYSE:HAL) by 35.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 77,234 shares of the oilfield services company’s stock after buying an additional 20,156 shares during the quarter. Convergence Investment Partners LLC’s holdings in Halliburton were worth $3,011,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Nvest Wealth Strategies Inc. purchased a new position in Halliburton during the fourth quarter worth about $25,000. Kelleher Financial Advisors purchased a new stake in Halliburton in the 3rd quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. purchased a new stake in Halliburton in the 2nd quarter valued at approximately $25,000. Zions Bancorporation National Association UT increased its position in Halliburton by 196.4% during the 4th 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 period. Finally, Strive Asset Management LLC acquired a new position in Halliburton during the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Stock Performance

NYSE HAL opened at $35.20 on Tuesday. Halliburton Company has a 1-year low of $20.17 and a 1-year high of $43.59. The company has a market capitalization of $29.40 billion, a P/E ratio of 19.34, a PEG ratio of 1.63 and a beta of 0.71. The business has a 50 day moving average price of $37.61 and a 200 day moving average price of $36.38. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54.

Halliburton (NYSE:HAL) last posted its earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.37 billion. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.Halliburton’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 earnings per share. Sell-side analysts expect that Halliburton Company will post 2.36 EPS for the current fiscal year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, June 3rd. Halliburton’s payout ratio is 37.36%.

Insider Buying and Selling at Halliburton

In related news, Director Tobi M. Young sold 6,125 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $41.72, for a total value of $255,535.00. Following the sale, the director directly owned 15,250 shares in the company, valued at $636,230. The trade was a 28.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eric Carre sold 24,778 shares of the business’s stock in a transaction dated 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 owned 148,520 shares in the company, valued at $5,330,382.80. This represents a 14.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 258,255 shares of company stock worth $10,550,535. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on HAL. Griffin Securities raised Halliburton from a “neutral” rating to a “buy” rating and set a $47.00 price target for the company in a report on Wednesday, April 22nd. Capital One Financial upped their price objective on Halliburton from $41.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. HSBC increased their price objective on Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Wall Street Zen downgraded Halliburton from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 3rd. Finally, Piper Sandler upgraded shares of Halliburton from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $43.00 in a research report on Tuesday, July 14th. Nineteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.27.

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.