Sienna Gestion Purchases New Stake in Halliburton Company $HAL

Sienna Gestion acquired a new position in shares of Halliburton Company (NYSE:HAL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 263,401 shares of the oilfield services company’s stock, valued at approximately $5,908,000.

A number of other large investors also recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. bought a new position in shares of Halliburton in the 3rd quarter valued at about $25,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Halliburton during the second quarter worth approximately $25,000. Root Financial Partners LLC acquired a new position in Halliburton in the third quarter valued at approximately $32,000. Rakuten Securities Inc. boosted its stake 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 acquiring an additional 1,341 shares during the last quarter. Finally, Cape Investment Advisory Inc. grew its holdings in Halliburton by 111.9% during the 2nd quarter. Cape Investment Advisory Inc. now owns 1,704 shares of the oilfield services company’s stock worth $35,000 after acquiring an additional 900 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on HAL shares. JPMorgan Chase & Co. increased their price target on Halliburton from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, January 22nd. Piper Sandler upped their price objective on Halliburton from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Citigroup increased their target price on Halliburton from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Jefferies Financial Group restated a “buy” rating and set a $39.00 target price on shares of Halliburton in a report on Friday, February 6th. Finally, Evercore boosted their target price on Halliburton from $35.00 to $36.00 and gave the stock an “in-line” rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Halliburton has a consensus rating of “Moderate Buy” and a consensus price target of $35.38.

Insider Activity at Halliburton

In related news, EVP Lawrence J. Pope sold 100,000 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $32.25, for a total value of $3,225,000.00. Following the sale, the executive vice president directly owned 419,800 shares of the company’s stock, valued at approximately $13,538,550. The trade was a 19.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Margaret Katherine Banks sold 2,600 shares of the company’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $34.17, for a total transaction of $88,842.00. Following the completion of the transaction, the director directly owned 14,043 shares of the company’s stock, valued at approximately $479,849.31. The trade was a 15.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 328,148 shares of company stock valued at $11,199,000. Insiders own 0.56% of the company’s stock.

Halliburton Trading Down 0.1%

NYSE:HAL opened at $34.11 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.04 and a quick ratio of 1.51. The business’s 50-day simple moving average is $33.30 and its 200-day simple moving average is $28.05. Halliburton Company has a fifty-two week low of $18.72 and a fifty-two week high of $37.03. The stock has a market capitalization of $28.57 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 2.03 and a beta of 0.73.

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

Halliburton Dividend Announcement

The business also recently disclosed 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 2.0%. Halliburton’s dividend payout ratio is currently 45.03%.

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.