Redwood Investment Management LLC Takes Position in Halliburton Company $HAL

Redwood Investment Management LLC bought a new position in shares of Halliburton Company (NYSE:HAL) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 26,151 shares of the oilfield services company’s stock, valued at approximately $1,020,000.

A number of other institutional investors have also made changes to their positions in HAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Halliburton by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company’s stock worth $2,353,000 after buying an additional 6,507 shares during the last quarter. Woodline Partners LP grew its stake in Halliburton by 39.0% in the 1st quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company’s stock valued at $1,861,000 after buying an additional 20,583 shares during the last quarter. Focus Partners Wealth raised its holdings in Halliburton by 25.0% in the 1st quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company’s stock valued at $1,320,000 after acquiring an additional 10,408 shares during the period. Intech Investment Management LLC raised its holdings in Halliburton by 309.1% in the 1st quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company’s stock valued at $1,749,000 after acquiring an additional 52,092 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in Halliburton during the first quarter worth approximately $895,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HAL. JPMorgan Chase & Co. boosted their price objective on Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Evercore reissued an “outperform” rating and set a $43.00 price target on shares of Halliburton in a report on Wednesday, July 22nd. Stifel Nicolaus restated a “buy” rating and issued a $43.00 price target (up from $36.00) on shares of Halliburton in a research note on Wednesday, April 22nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Halliburton in a report on Sunday, April 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Halliburton in a research report on Wednesday, July 8th. Eighteen investment 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. Based on data from MarketBeat, Halliburton has an average rating of “Moderate Buy” and an average target price of $43.10.

Halliburton Trading Down 1.1%

Shares of NYSE:HAL opened at $31.90 on Tuesday. The business’s 50 day simple moving average is $35.69 and its 200 day simple moving average is $36.48. Halliburton Company has a 1 year low of $20.39 and a 1 year high of $43.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.50. The company has a market capitalization of $26.58 billion, a P/E ratio of 16.70, a P/E/G ratio of 2.01 and a beta of 0.73.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. The firm had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 EPS. On average, research analysts anticipate that Halliburton Company will post 2.35 EPS for the current fiscal year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, June 3rd. Halliburton’s payout ratio is 35.60%.

Insider Transactions at Halliburton

In other Halliburton 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 value of $889,282.42. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Van H. Beckwith sold 198,349 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $41.29, for a total transaction of $8,189,830.21. Following the completion of the transaction, the executive vice president owned 146,186 shares of the company’s stock, valued at $6,036,019.94. The trade was a 57.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is owned by insiders.

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.