Halliburton Company $HAL Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC lessened its position in shares of Halliburton Company (NYSE:HAL) by 34.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,685 shares of the oilfield services company’s stock after selling 33,285 shares during the period. NewEdge Advisors LLC’s holdings in Halliburton were worth $2,336,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Nvest Wealth Strategies Inc. acquired a new stake in shares of Halliburton during the 4th quarter valued at approximately $25,000. Kelleher Financial Advisors bought a new position in Halliburton during the third quarter worth $25,000. Newbridge Financial Services Group Inc. acquired a new position in Halliburton in the second quarter worth $25,000. Zions Bancorporation National Association UT boosted its holdings in Halliburton by 196.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock worth $28,000 after purchasing an additional 650 shares during the period. Finally, Strive Asset Management LLC bought a new stake in Halliburton during the third quarter valued at $31,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Trending Headlines about Halliburton

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton signed a non-binding memorandum of understanding with Beetaloo Energy to support a proposed gas-to-power project linked to an artificial-intelligence data center in Australia’s Northern Territory. The opportunity could create future work in drilling, production and energy infrastructure, although it is not yet a firm contract. Reuters article
• Positive Sentiment: Brokerages maintain a consensus “Moderate Buy” recommendation for HAL, offering some support after the stock’s recent weakness. Halliburton consensus recommendation
• Neutral Sentiment: Halliburton stock rose in the latest session but continued to underperform the broader market, indicating that investors remain cautious despite the recent bounce. MarketWatch stock performance article
• Negative Sentiment: UBS said Halliburton’s soft third-quarter guidance is weighing on the stock. The cautious outlook raises concerns about weaker oilfield-services demand, pricing or international activity in the near term. UBS Halliburton outlook article

Analyst Upgrades and Downgrades

HAL has been the topic of a number of research reports. Stifel Nicolaus reissued a “buy” rating and set a $43.00 target price (up from $36.00) on shares of Halliburton in a report on Wednesday, April 22nd. Piper Sandler raised shares of Halliburton from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $40.00 to $43.00 in a report on Tuesday, July 14th. Susquehanna lowered their price objective on shares of Halliburton from $45.00 to $42.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. Citigroup boosted their price objective on shares of Halliburton from $47.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Finally, BMO Capital Markets set a $37.00 price objective on shares of Halliburton in a research note on Wednesday, July 22nd. Eighteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Halliburton presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.10.

Halliburton Stock Performance

Shares of HAL opened at $32.22 on Friday. The firm has a market capitalization of $26.84 billion, a PE ratio of 16.87, a P/E/G ratio of 1.98 and a beta of 0.71. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $35.88 and a 200 day moving average price of $36.46. Halliburton Company has a 52-week low of $20.39 and a 52-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 for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The company had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.50 billion. During the same period in the prior year, the business posted $0.55 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Halliburton Company will post 2.35 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $0.68 annualized dividend and a dividend yield of 2.1%. Halliburton’s dividend payout ratio (DPR) is 35.60%.

Insider Transactions at Halliburton

In other news, CFO Eric Carre sold 24,778 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total value of $889,282.42. Following the completion of the sale, the chief financial officer owned 148,520 shares in the company, valued at $5,330,382.80. This represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Van H. Beckwith sold 198,349 shares of Halliburton stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $41.29, for a total value of $8,189,830.21. Following the transaction, the executive vice president directly owned 146,186 shares in the company, valued at approximately $6,036,019.94. The trade was a 57.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 243,475 shares of company stock valued at $9,931,490. Corporate insiders own 0.57% of the company’s stock.

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.