OP Asset Management Ltd Invests $3.42 Million in Halliburton Company $HAL

OP Asset Management Ltd acquired a new stake in Halliburton Company (NYSE:HAL) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 87,630 shares of the oilfield services company’s stock, valued at approximately $3,417,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vermillion Wealth Management Inc. raised its position in Halliburton by 24.8% during the fourth quarter. Vermillion Wealth Management Inc. now owns 1,456 shares of the oilfield services company’s stock worth $41,000 after acquiring an additional 289 shares in the last quarter. Coldstream Capital Management Inc. grew its position in shares of Halliburton by 1.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 23,312 shares of the oilfield services company’s stock valued at $659,000 after acquiring an additional 349 shares during the period. Harbour Investments Inc. increased its stake in shares of Halliburton by 7.3% during the 4th quarter. Harbour Investments Inc. now owns 5,320 shares of the oilfield services company’s stock worth $150,000 after purchasing an additional 361 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of Halliburton by 3.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 10,363 shares of the oilfield services company’s stock valued at $293,000 after purchasing an additional 365 shares during the period. Finally, Fidelis Capital Partners LLC raised its holdings in shares of Halliburton by 1.7% in the 4th quarter. Fidelis Capital Partners LLC now owns 22,517 shares of the oilfield services company’s stock valued at $636,000 after purchasing an additional 371 shares during the period. 85.23% of the stock is owned by institutional investors.

Insider Activity at Halliburton

In related news, CFO Eric Carre sold 24,778 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.89, for a total transaction of $889,282.42. Following the transaction, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at approximately $5,330,382.80. This trade represents a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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, Director Tobi M. Young sold 6,125 shares of Halliburton stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $41.72, for a total transaction of $255,535.00. Following the completion of the sale, 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 SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 258,255 shares of company stock valued at $10,550,535. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Piper Sandler lifted their price target on Halliburton from $34.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Wall Street Zen cut Halliburton from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 3rd. Morgan Stanley lifted their target price on Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Capital One Financial boosted their target price on Halliburton from $41.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Finally, Barclays upgraded Halliburton from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $37.00 to $55.00 in a research note on Thursday, May 7th. Eighteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.27.

Halliburton Trading Down 1.7%

Shares of HAL stock opened at $34.09 on Friday. Halliburton Company has a 12-month low of $20.09 and a 12-month high of $43.59. The company has a market capitalization of $28.47 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 1.48 and a beta of 0.69. The firm has a 50 day moving average price of $39.34 and a two-hundred day moving average price of $35.64. 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 (NYSE:HAL) last posted its 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. The company 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 firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. As a group, analysts predict that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders 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 yield of 2.0%. Halliburton’s dividend payout ratio (DPR) is presently 37.36%.

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.