Havemeyer Place LP Acquires New Shares in Halliburton Company $HAL

Havemeyer Place LP acquired a new stake in Halliburton Company (NYSE:HAL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,289 shares of the oilfield services company’s stock, valued at approximately $743,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Nvest Wealth Strategies Inc. purchased a new position in shares of Halliburton during the 4th quarter worth approximately $25,000. Kelleher Financial Advisors purchased a new position in shares of Halliburton during the 3rd quarter worth approximately $25,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Halliburton during the 2nd quarter worth approximately $25,000. Strive Asset Management LLC purchased a new position in shares of Halliburton during the 3rd quarter worth approximately $31,000. Finally, Rakuten Securities Inc. boosted its position in shares of Halliburton by 547.3% during the 2nd quarter. Rakuten Securities Inc. now owns 1,586 shares of the oilfield services company’s stock worth $32,000 after purchasing an additional 1,341 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on HAL shares. JPMorgan Chase & Co. increased their price objective on shares of Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Halliburton in a research report on Friday, April 10th. Piper Sandler increased their price objective on shares of Halliburton from $34.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Jefferies Financial Group reaffirmed a “buy” rating and set a $47.00 price objective on shares of Halliburton in a research report on Sunday, April 26th. Finally, BMO Capital Markets increased their price objective on shares of Halliburton from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Eighteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.27.

Insider Buying and Selling

In other Halliburton news, Director Tobi M. Young sold 6,125 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $41.72, for a total value of $255,535.00. Following the completion of the transaction, the director owned 15,250 shares of the company’s stock, valued at $636,230. This trade represents a 28.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey Allen Miller sold 158,455 shares of the firm’s stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $40.00, for a total transaction of $6,338,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,013,027 shares of the company’s stock, valued at $40,521,080. This represents a 13.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 416,991 shares of company stock worth $16,846,948 over the last three months. 0.57% of the stock is owned by insiders.

Halliburton Stock Performance

Shares of HAL stock opened at $40.43 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 2.08 and a debt-to-equity ratio of 0.65. Halliburton Company has a 52 week low of $20.09 and a 52 week high of $43.59. The stock has a market capitalization of $33.77 billion, a PE ratio of 22.21, a P/E/G ratio of 1.69 and a beta of 0.70. The firm has a 50 day moving average of $39.80 and a two-hundred day moving average of $34.70.

Halliburton (NYSE:HAL) last issued its quarterly earnings results 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. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The company had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the company posted $0.60 EPS. The firm’s revenue was down .3% compared to the same quarter last year. On average, research 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. Shareholders of record on Wednesday, June 3rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, June 3rd. Halliburton’s dividend payout ratio (DPR) 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.