Carrhae Capital LLP Increases Stock Position in Halliburton Company $HAL

Carrhae Capital LLP raised its stake in Halliburton Company (NYSE:HAL) by 21.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 726,193 shares of the oilfield services company’s stock after acquiring an additional 128,472 shares during the period. Halliburton accounts for approximately 0.7% of Carrhae Capital LLP’s portfolio, making the stock its 20th largest position. Carrhae Capital LLP’s holdings in Halliburton were worth $24,654,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Halliburton by 10.2% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,794 shares of the oilfield services company’s stock valued at $109,000 after purchasing an additional 258 shares during the period. Vermillion Wealth Management Inc. increased its position in Halliburton by 24.8% during the fourth quarter. Vermillion Wealth Management Inc. now owns 1,456 shares of the oilfield services company’s stock worth $41,000 after buying an additional 289 shares during the period. Carlson Financial Inc. lifted its stake in Halliburton by 2.7% in the second quarter. Carlson Financial Inc. now owns 11,278 shares of the oilfield services company’s stock valued at $383,000 after buying an additional 295 shares during the last quarter. Greenleaf Trust lifted its stake in Halliburton by 2.0% in the second quarter. Greenleaf Trust now owns 17,348 shares of the oilfield services company’s stock valued at $589,000 after buying an additional 342 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in shares of Halliburton by 1.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 23,312 shares of the oilfield services company’s stock valued at $659,000 after acquiring an additional 349 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HAL shares. TD Cowen cut their target price on shares of Halliburton from $48.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Wall Street Zen downgraded shares of Halliburton from a “buy” rating to a “hold” rating in a research report on Monday, August 31st. Susquehanna dropped their price objective on shares of Halliburton from $45.00 to $42.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. Evercore reaffirmed an “outperform” rating and issued a $43.00 target price on shares of Halliburton in a report on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Halliburton in a report on Wednesday, July 8th. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.10.

Insider Buying and Selling

In other Halliburton news, COO Jeffrey Slocum sold 52,572 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total value of $1,844,751.48. Following the completion of the transaction, the chief operating officer owned 118,730 shares in the company, valued at approximately $4,166,235.70. This represents a 30.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.89, for a total transaction of $889,282.42. Following the completion of the transaction, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at approximately $5,330,382.80. This trade represents a 14.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.57% of the company’s stock.

Halliburton Stock Performance

Shares of HAL stock traded down $0.21 during mid-day trading on Tuesday, hitting $36.86. The stock had a trading volume of 8,448,155 shares, compared to its average volume of 13,476,296. The firm has a market cap of $30.71 billion, a PE ratio of 19.30, a PEG ratio of 2.14 and a beta of 0.76. The company’s 50-day simple moving average is $34.19 and its 200-day simple moving average is $36.69. 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 Company has a fifty-two week low of $21.46 and a fifty-two week high of $43.59.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.50 billion. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 earnings per share. Sell-side analysts anticipate that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $0.68 annualized dividend and a yield of 1.8%. Halliburton’s payout ratio is presently 35.60%.

Halliburton Company 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.