MinichMacGregor Wealth Management LLC Invests $1.11 Million in Halliburton Company $HAL

MinichMacGregor Wealth Management LLC purchased a new position in shares of Halliburton Company (NYSE:HAL) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 28,524 shares of the oilfield services company’s stock, valued at approximately $1,112,000.

A number of other hedge funds have also recently modified their holdings of the business. Nvest Wealth Strategies Inc. purchased a new stake in shares of Halliburton in the 4th quarter worth $25,000. Kelleher Financial Advisors purchased a new position in Halliburton during the third quarter valued at $25,000. Newbridge Financial Services Group Inc. bought a new stake in Halliburton during the second quarter valued at about $25,000. Zions Bancorporation National Association UT grew its holdings in 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 period. Finally, Strive Asset Management LLC purchased a new stake in Halliburton in the third quarter worth about $31,000. Institutional investors own 85.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on HAL shares. Piper Sandler raised their price objective on Halliburton from $34.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Capital One Financial boosted their price objective on Halliburton from $41.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Jefferies Financial Group reissued a “buy” rating and issued a $47.00 target price on shares of Halliburton in a report on Sunday, April 26th. Barclays upgraded shares of Halliburton from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $37.00 to $55.00 in a research note on Thursday, May 7th. Finally, Rothschild & Co Redburn lifted their price target on shares of Halliburton from $40.00 to $49.00 and gave the company a “buy” rating in a report on Friday, May 15th. Eighteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.27.

Insider Buying and Selling

In other Halliburton news, CFO Eric Carre sold 24,778 shares of the stock in a transaction that occurred on 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 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 filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Timothy Mckeon sold 8,655 shares of Halliburton stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $42.00, for a total transaction of $363,510.00. Following the sale, the vice president owned 72,976 shares in the company, valued at approximately $3,064,992. The trade was a 10.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 416,710 shares of company stock worth $16,888,735 in the last quarter. 0.57% of the stock is owned by insiders.

Halliburton Price Performance

NYSE:HAL opened at $33.96 on Thursday. The company has a quick ratio of 1.54, a current ratio of 2.08 and a debt-to-equity ratio of 0.65. The business’s 50-day simple moving average is $39.47 and its two-hundred day simple moving average is $35.61. The stock has a market cap of $28.37 billion, a PE ratio of 18.66, a P/E/G ratio of 1.52 and a beta of 0.69. Halliburton Company has a 52 week low of $20.09 and a 52 week high of $43.59.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. The business 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%.The business’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 earnings per share. As a group, analysts forecast 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 was paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. Halliburton’s payout ratio is currently 37.36%.

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.