Birmingham Capital Management Co. Inc. AL Purchases New Holdings in Halliburton Company $HAL

Birmingham Capital Management Co. Inc. AL acquired a new position in shares of Halliburton Company (NYSE:HAL) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 20,260 shares of the oilfield services company’s stock, valued at approximately $688,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Nova Scotia raised its position in shares of Halliburton by 128.8% in the 1st quarter. Bank of Nova Scotia now owns 2,284,612 shares of the oilfield services company’s stock worth $89,077,000 after purchasing an additional 1,286,095 shares during the last quarter. ABN Amro Investment Solutions bought a new stake in Halliburton during the 4th quarter valued at about $827,000. K.J. Harrison & Partners Inc lifted its stake in shares of Halliburton by 172.6% in the fourth quarter. K.J. Harrison & Partners Inc now owns 110,000 shares of the oilfield services company’s stock worth $3,109,000 after buying an additional 69,644 shares in the last quarter. Swiss Life Asset Management Ltd grew its holdings in shares of Halliburton by 22.0% during the fourth quarter. Swiss Life Asset Management Ltd now owns 373,949 shares of the oilfield services company’s stock valued at $10,568,000 after buying an additional 67,369 shares during the last quarter. Finally, Nwam LLC bought a new stake in shares of Halliburton during the fourth quarter valued at approximately $3,731,000. Institutional investors own 85.23% of the company’s stock.

Halliburton Trading Up 1.8%

NYSE:HAL opened at $34.40 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64. Halliburton Company has a 12 month low of $21.40 and a 12 month high of $43.59. The company has a market cap of $28.66 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 2.12 and a beta of 0.73. The company has a 50 day simple moving average of $33.78 and a two-hundred day simple moving average of $36.54.

Halliburton (NYSE:HAL) last released its quarterly earnings results 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 for 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 revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS. Research analysts forecast 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 will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, September 2nd. Halliburton’s dividend payout ratio is 35.60%.

Wall Street Analyst Weigh In

HAL has been the topic of several analyst reports. Wall Street Zen raised Halliburton from a “hold” rating to a “buy” rating in a research report on Sunday. Susquehanna decreased their price target on Halliburton from $45.00 to $42.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Wolfe Research assumed coverage on Halliburton in a report on Wednesday, July 8th. They set a “peer perform” rating on the stock. Freedom Capital raised Halliburton from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Evercore reiterated an “outperform” rating and issued a $43.00 price objective on shares of Halliburton in a report on Wednesday, July 22nd. Eighteen equities 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.10.

Halliburton News Roundup

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: BP awards Halliburton an integrated Bumerangue contract: Halliburton will provide drilling, reservoir evaluation and digital technologies for BP’s first appraisal campaign at the Bumerangue discovery offshore Brazil. The contract expands HAL’s deepwater backlog and demonstrates demand for its integrated oilfield services, though near-term revenue and profit contributions remain unclear. Halliburton Wins BP Contract for Bumerangue Field Appraisal
• Positive Sentiment: Relative strength attracts investor attention: Halliburton finished higher even as the overall market weakened, indicating favorable investor reaction and relative strength. Market coverage identified the BP contract and the stock’s performance versus broader indexes as key developments. Halliburton Rises As Market Takes a Dip: Key Facts
• Neutral Sentiment: Dividend remains intact: Halliburton declared a quarterly dividend of $0.17 per share, payable September 23 to shareholders of record September 2. The payment supports the stock’s income appeal, but the dividend announcement was expected and is unlikely to materially change valuation. Halliburton Company Dividend Announcement
• Neutral Sentiment: Brokerage consensus is “Moderate Buy”: Analysts generally remain constructive on HAL, providing a supportive backdrop but not a major new catalyst for the stock. Halliburton Given Moderate Buy Recommendation
• Neutral Sentiment: Potential lithium-related work: Halliburton is reportedly set to begin test drilling at a lithium site in Cornwall, UK. The project could broaden the company’s technology applications, but it is early-stage and has no clear near-term earnings impact. US Oil Industry Giant to Start Test Drilling at Cornish Lithium Site

Insiders Place Their Bets

In other Halliburton news, COO Jeffrey Shannon Slocum sold 52,572 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total value of $1,844,751.48. Following the transaction, the chief operating officer directly owned 118,730 shares of the company’s stock, valued at approximately $4,166,235.70. This trade represents a 30.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of the business’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 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 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 currently owned by corporate insiders.

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.