Carlson Capital L.P. Makes New $1.72 Million Investment in Halliburton Company $HAL

Carlson Capital L.P. purchased a new stake in shares of Halliburton Company (NYSE:HAL) during the first quarter, Holdings Channel reports. The fund purchased 44,229 shares of the oilfield services company’s stock, valued at approximately $1,724,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Halliburton by 10.2% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,794 shares of the oilfield services company’s stock worth $109,000 after purchasing an additional 258 shares in the last quarter. Vermillion Wealth Management Inc. raised its holdings 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 valued at $41,000 after buying an additional 289 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in shares of Halliburton by 1.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 23,312 shares of the oilfield services company’s stock worth $659,000 after buying an additional 349 shares during the last quarter. Harbour Investments Inc. boosted 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 acquiring an additional 361 shares in the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in shares of Halliburton by 3.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 10,363 shares of the oilfield services company’s stock worth $293,000 after acquiring an additional 365 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Buying and Selling at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 198,349 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $41.29, for a total value of $8,189,830.21. Following the sale, the executive vice president directly owned 146,186 shares in the company, valued at $6,036,019.94. This trade represents a 57.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 stock was sold at an average price of $35.89, for a total transaction of $889,282.42. Following the transaction, the chief financial officer owned 148,520 shares in the company, valued at approximately $5,330,382.80. The trade was a 14.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 243,475 shares of company stock valued at $9,931,490 in the last ninety days. Company insiders own 0.57% of the company’s stock.

Halliburton Price Performance

Shares of NYSE:HAL opened at $32.22 on Friday. The business has a 50 day moving average price of $35.88 and a 200 day moving average price of $36.46. Halliburton Company has a twelve month low of $20.39 and a twelve month high of $43.59. The company has a market cap of $26.84 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 1.98 and a beta of 0.71. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64.

Halliburton (NYSE:HAL) last posted 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 company 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%.Halliburton’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 earnings per share. Research analysts predict that Halliburton Company will post 2.35 earnings per share for the current year.

Halliburton Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently weighed in on HAL. Wall Street Zen downgraded Halliburton from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. JPMorgan Chase & Co. increased their price target on Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Jefferies Financial Group reissued a “buy” rating and issued a $47.00 price target on shares of Halliburton in a research report on Sunday, April 26th. BMO Capital Markets set a $37.00 price objective on shares of Halliburton in a research note on Wednesday, July 22nd. Finally, Royal Bank Of Canada upped their price objective on shares of Halliburton from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Halliburton has an average rating of “Moderate Buy” and a consensus price target of $43.10.

Key Halliburton News

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton signed a non-binding memorandum of understanding with Beetaloo Energy to support a proposed gas-to-power project linked to an artificial-intelligence data center in Australia’s Northern Territory. The opportunity could create future work in drilling, production and energy infrastructure, although it is not yet a firm contract. Reuters article
• Positive Sentiment: Brokerages maintain a consensus “Moderate Buy” recommendation for HAL, offering some support after the stock’s recent weakness. Halliburton consensus recommendation
• Neutral Sentiment: Halliburton stock rose in the latest session but continued to underperform the broader market, indicating that investors remain cautious despite the recent bounce. MarketWatch stock performance article
• Negative Sentiment: UBS said Halliburton’s soft third-quarter guidance is weighing on the stock. The cautious outlook raises concerns about weaker oilfield-services demand, pricing or international activity in the near term. UBS Halliburton outlook article

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.