Halliburton Company $HAL Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC boosted its stake in Halliburton Company (NYSE:HAL) by 25.8% in the first quarter, Holdings Channel.com reports. The fund owned 121,970 shares of the oilfield services company’s stock after buying an additional 25,000 shares during the quarter. NewEdge Advisors LLC’s holdings in Halliburton were worth $4,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Nvest Wealth Strategies Inc. purchased a new position in shares of Halliburton during the fourth quarter worth about $25,000. Zions Bancorporation National Association UT lifted its holdings in shares of Halliburton by 196.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock valued at $28,000 after purchasing an additional 650 shares during the last quarter. Hoey Investments Inc. acquired a new stake in shares of Halliburton in the 1st quarter valued at about $39,000. Kelleher Financial Advisors acquired a new stake in shares of Halliburton during the third quarter worth about $25,000. Finally, Vestor Capital LLC acquired a new stake in shares of Halliburton during the first quarter worth about $41,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Price Performance

Shares of NYSE:HAL opened at $33.76 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64. The company has a market cap of $28.12 billion, a P/E ratio of 17.67, a PEG ratio of 2.10 and a beta of 0.73. Halliburton Company has a 52 week low of $20.53 and a 52 week high of $43.59. The company has a 50-day moving average price of $34.83 and a 200 day moving average price of $36.48.

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 analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 EPS. Research analysts predict that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Announces Dividend

The firm 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. The ex-dividend date was Wednesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.0%. Halliburton’s payout ratio is 35.60%.

Insiders Place Their Bets

In other Halliburton news, CFO Eric Carre sold 24,778 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total value of $889,282.42. Following the completion of the sale, the chief financial officer owned 148,520 shares of the company’s stock, valued at approximately $5,330,382.80. This trade represents a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 on Friday, May 15th. The stock was sold at an average price of $41.29, for a total transaction of $8,189,830.21. Following the sale, the executive vice president owned 146,186 shares in the company, valued at $6,036,019.94. The trade was a 57.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on HAL shares. Zephirin Group upped their price objective on Halliburton from $30.00 to $31.00 and gave the company a “sell” rating in a research note on Wednesday, April 22nd. Capital One Financial lifted their target price on Halliburton from $41.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Royal Bank Of Canada boosted their target price on Halliburton from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. BMO Capital Markets set a $37.00 price target on Halliburton in a report on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Halliburton in a report on Wednesday, July 8th. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Halliburton currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.10.

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.