Independent Advisor Alliance Purchases New Stake in Halliburton Company $HAL

Independent Advisor Alliance acquired a new position in shares of Halliburton Company (NYSE:HAL) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 15,598 shares of the oilfield services company’s stock, valued at approximately $441,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Research Global Investors increased its stake in shares of Halliburton by 81.8% in the 3rd quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company’s stock worth $2,239,349,000 after acquiring an additional 40,969,139 shares during the last quarter. Strive Asset Management LLC acquired a new position in shares of Halliburton during the 3rd quarter valued at about $418,738,000. Holocene Advisors LP purchased a new stake in shares of Halliburton in the third quarter valued at about $147,315,000. AQR Capital Management LLC grew its holdings in shares of Halliburton by 85.5% in the second quarter. AQR Capital Management LLC now owns 8,610,870 shares of the oilfield services company’s stock valued at $175,490,000 after purchasing an additional 3,969,759 shares during the period. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in Halliburton during the fourth quarter worth about $97,178,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

HAL has been the topic of several recent analyst reports. Barclays upgraded shares of Halliburton from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $37.00 to $55.00 in a report on Thursday, May 7th. Griffin Securities raised shares of Halliburton from a “neutral” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Wednesday, April 22nd. Piper Sandler upped their price objective on Halliburton from $34.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. TD Cowen increased their price objective on Halliburton from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Finally, Morgan Stanley raised 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. Eighteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.45.

Halliburton Stock Down 0.1%

NYSE:HAL opened at $41.71 on Monday. Halliburton Company has a 52 week low of $19.38 and a 52 week high of $42.46. The stock’s fifty day moving average is $38.24 and its two-hundred day moving average is $33.16. The stock has a market capitalization of $34.85 billion, a price-to-earnings ratio of 22.92, a price-to-earnings-growth ratio of 1.83 and a beta of 0.73. 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 issued its quarterly earnings data on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The business had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The company’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. Research analysts anticipate that Halliburton Company will post 2.32 EPS for the current year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, March 4th. Halliburton’s payout ratio is currently 37.36%.

Insider Activity at Halliburton

In related news, Director Tobi M. Young sold 6,125 shares of Halliburton stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $41.72, for a total value of $255,535.00. Following the completion of the transaction, the director owned 15,250 shares in the company, valued at approximately $636,230. The trade was a 28.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Timothy Mckeon sold 8,655 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $42.00, for a total transaction of $363,510.00. Following the sale, the vice president directly owned 72,976 shares in the company, valued at approximately $3,064,992. The trade was a 10.60% 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. Over the last three months, insiders sold 222,488 shares of company stock valued at $8,789,305. 0.57% of the stock is owned by company 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.