Wellington Management Group LLP Boosts Stock Holdings in Halliburton Company $HAL

Wellington Management Group LLP increased its stake in Halliburton Company (NYSE:HAL) by 6.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,867,126 shares of the oilfield services company’s stock after acquiring an additional 111,836 shares during the period. Wellington Management Group LLP owned approximately 0.22% of Halliburton worth $63,389,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HAL. Kingsview Wealth Management LLC purchased a new stake in Halliburton during the 2nd quarter worth about $3,467,000. Beacon Pointe Advisors LLC purchased a new position in shares of Halliburton in the 2nd quarter valued at about $980,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of Halliburton during the second quarter worth about $839,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Halliburton during the second quarter worth approximately $1,713,000. Finally, Rakuten Investment Management Inc. purchased a new stake in shares of Halliburton during the second quarter worth approximately $4,658,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. TD Cowen decreased their price target on shares of Halliburton from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Piper Sandler upgraded shares of Halliburton from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $43.00 in a report on Tuesday, July 14th. Freedom Capital raised shares of Halliburton from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Halliburton in a research note on Wednesday, July 8th. Finally, Barclays cut their price target on Halliburton from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Eighteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.10.

Halliburton Stock Up 2.4%

Shares of NYSE HAL opened at $37.67 on Thursday. The stock has a market cap of $31.39 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 2.12 and a beta of 0.76. 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 Company has a 52-week low of $21.40 and a 52-week high of $43.59. The business has a 50-day moving average price of $33.96 and a 200 day moving average price of $36.60.

Halliburton (NYSE:HAL) last released 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. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter last year, the business posted $0.55 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts forecast that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Dividend Announcement

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

Insiders Place Their Bets

In related news, COO Jeffrey Shannon Slocum sold 52,572 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total value of $1,844,751.48. Following the completion of the sale, the chief operating officer owned 118,730 shares in the company, valued at $4,166,235.70. This represents a 30.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 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 sale, the chief financial officer owned 148,520 shares of the company’s stock, valued at approximately $5,330,382.80. This represents a 14.30% 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 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.