Strive Asset Management LLC Makes New Investment in Halliburton Company $HAL

Strive Asset Management LLC bought a new stake in shares of Halliburton Company (NYSE:HAL) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 17,021,859 shares of the oilfield services company’s stock, valued at approximately $418,738,000. Halliburton makes up about 13.9% of Strive Asset Management LLC’s investment portfolio, making the stock its 3rd biggest position. Strive Asset Management LLC owned approximately 2.02% of Halliburton as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new position in shares of Halliburton in the third quarter worth about $25,000. Newbridge Financial Services Group Inc. acquired a new position in Halliburton in the 2nd quarter worth about $25,000. Root Financial Partners LLC purchased a new position in Halliburton during the third quarter worth approximately $32,000. Rakuten Securities Inc. grew its holdings in Halliburton by 547.3% in the second quarter. Rakuten Securities Inc. now owns 1,586 shares of the oilfield services company’s stock valued at $32,000 after purchasing an additional 1,341 shares during the period. Finally, Cape Investment Advisory Inc. increased its position in shares of Halliburton by 111.9% in the second quarter. Cape Investment Advisory Inc. now owns 1,704 shares of the oilfield services company’s stock valued at $35,000 after buying an additional 900 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Halliburton from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, January 22nd. Wall Street Zen cut shares of Halliburton from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Citigroup raised their price target on shares of Halliburton from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. BMO Capital Markets boosted their price objective on Halliburton from $36.00 to $39.00 and gave the stock a “market perform” rating in a research note on Thursday, January 22nd. Finally, Evercore lifted their price target on Halliburton from $35.00 to $36.00 and gave the stock an “in-line” rating in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.19.

Halliburton Trading Down 0.1%

HAL opened at $35.96 on Tuesday. The firm has a market capitalization of $30.12 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 2.14 and a beta of 0.73. The company’s 50 day simple moving average is $32.77 and its two-hundred day simple moving average is $27.67. Halliburton Company has a 1-year low of $18.72 and a 1-year high of $37.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.04 and a quick ratio of 1.51.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.55 by $0.14. The firm had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Halliburton had a return on equity of 19.77% and a net margin of 5.78%.The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 earnings per share. Analysts expect that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 1.9%. Halliburton’s payout ratio is presently 45.03%.

Insider Activity

In other news, CEO Jeffrey Allen Miller sold 171,200 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $34.96, for a total transaction of $5,985,152.00. Following the completion of the sale, the chief executive officer owned 1,101,243 shares in the company, valued at $38,499,455.28. This trade represents a 13.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Margaret Katherine Banks sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $34.17, for a total value of $88,842.00. Following the completion of the transaction, the director owned 14,043 shares in the company, valued at $479,849.31. This represents a 15.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 337,002 shares of company stock valued at $11,445,938 in the last ninety days. 0.61% of the stock is currently owned by company insiders.

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.