Cookson Peirce & Co. Inc. Buys 67,343 Shares of Halliburton Company $HAL

Cookson Peirce & Co. Inc. raised its stake in shares of Halliburton Company (NYSE:HAL) by 164.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 108,397 shares of the oilfield services company’s stock after acquiring an additional 67,343 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Halliburton were worth $3,063,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Havemeyer Place LP acquired a new stake in shares of Halliburton in the fourth quarter valued at $743,000. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Halliburton by 33.8% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 56,570 shares of the oilfield services company’s stock valued at $1,599,000 after buying an additional 14,299 shares in the last quarter. Argonautica Private Wealth Management Inc. increased its stake in shares of Halliburton by 100.7% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 18,924 shares of the oilfield services company’s stock valued at $535,000 after buying an additional 9,494 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Halliburton by 28.8% in the fourth quarter. Parallel Advisors LLC now owns 16,269 shares of the oilfield services company’s stock valued at $460,000 after buying an additional 3,637 shares in the last quarter. Finally, Total Wealth Planning & Management Inc. acquired a new stake in shares of Halliburton in the fourth quarter valued at $2,125,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wall Street Zen lowered Halliburton from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 3rd. Zephirin Group raised their target price on Halliburton from $30.00 to $31.00 and gave the company a “sell” rating in a research note on Wednesday, April 22nd. Piper Sandler raised their target price on Halliburton from $34.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. The Goldman Sachs Group raised their target price on Halliburton from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Finally, Argus lifted their price objective on Halliburton from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Eighteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.27.

Halliburton Price Performance

Shares of HAL opened at $39.12 on Friday. Halliburton Company has a 52-week low of $20.09 and a 52-week high of $43.59. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08. The stock has a 50 day simple moving average of $39.77 and a 200 day simple moving average of $34.55. The firm has a market capitalization of $32.68 billion, a PE ratio of 21.49, a P/E/G ratio of 1.69 and a beta of 0.69.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.05. The firm had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.37 billion. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The company’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. Sell-side analysts predict that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Wednesday, June 3rd. Halliburton’s dividend payout ratio is 37.36%.

Insiders Place Their Bets

In other news, VP Timothy Mckeon sold 8,655 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $42.00, for a total transaction of $363,510.00. Following the sale, the vice president directly owned 72,976 shares of the company’s stock, valued at approximately $3,064,992. This represents a 10.60% decrease in their position. The transaction 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 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 completion of the sale, the executive vice president directly owned 146,186 shares in the company, valued at $6,036,019.94. This trade represents a 57.57% 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. Insiders have sold 416,991 shares of company stock worth $16,846,948 in the last quarter. Company insiders own 0.57% of the company’s stock.

About Halliburton

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.