1,227,062 Shares in Halliburton Company $HAL Purchased by Freestone Grove Partners LP

Freestone Grove Partners LP bought a new stake in Halliburton Company (NYSE:HAL) in the second quarter, Holdings Channel reports. The fund bought 1,227,062 shares of the oilfield services company’s stock, valued at approximately $41,659,000.

Other large investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Halliburton by 7.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company’s stock worth $2,353,000 after acquiring an additional 6,507 shares during the period. Woodline Partners LP increased its stake in shares of Halliburton by 39.0% during the first quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company’s stock valued at $1,861,000 after acquiring an additional 20,583 shares during the period. Focus Partners Wealth raised its holdings in Halliburton by 25.0% during the first quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company’s stock worth $1,320,000 after purchasing an additional 10,408 shares in the last quarter. Intech Investment Management LLC raised its holdings in Halliburton by 309.1% during the first quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company’s stock worth $1,749,000 after purchasing an additional 52,092 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Halliburton in the first quarter worth approximately $895,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Key Stories Impacting Halliburton

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: BP awards Halliburton an integrated Bumerangue contract: Halliburton will provide drilling, reservoir evaluation and digital technologies for BP’s first appraisal campaign at the Bumerangue discovery offshore Brazil. The contract expands HAL’s deepwater backlog and demonstrates demand for its integrated oilfield services, though near-term revenue and profit contributions remain unclear. Halliburton Wins BP Contract for Bumerangue Field Appraisal
• Positive Sentiment: Relative strength attracts investor attention: Halliburton finished higher even as the overall market weakened, indicating favorable investor reaction and relative strength. Market coverage identified the BP contract and the stock’s performance versus broader indexes as key developments. Halliburton Rises As Market Takes a Dip: Key Facts
• Neutral Sentiment: Dividend remains intact: Halliburton declared a quarterly dividend of $0.17 per share, payable September 23 to shareholders of record September 2. The payment supports the stock’s income appeal, but the dividend announcement was expected and is unlikely to materially change valuation. Halliburton Company Dividend Announcement
• Neutral Sentiment: Brokerage consensus is “Moderate Buy”: Analysts generally remain constructive on HAL, providing a supportive backdrop but not a major new catalyst for the stock. Halliburton Given Moderate Buy Recommendation
• Neutral Sentiment: Potential lithium-related work: Halliburton is reportedly set to begin test drilling at a lithium site in Cornwall, UK. The project could broaden the company’s technology applications, but it is early-stage and has no clear near-term earnings impact. US Oil Industry Giant to Start Test Drilling at Cornish Lithium Site

Halliburton Stock Up 1.8%

Shares of Halliburton stock opened at $34.40 on Thursday. The stock’s fifty day moving average is $33.78 and its 200-day moving average is $36.54. The firm has a market capitalization of $28.66 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 2.12 and a beta of 0.73. 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 Company has a 12-month low of $21.40 and a 12-month high of $43.59.

Halliburton (NYSE:HAL) last announced its earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the prior year, the business posted $0.55 earnings per share. Halliburton’s revenue was up 3.7% compared to the same quarter last year. Equities analysts anticipate that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. Halliburton’s dividend payout ratio is currently 35.60%.

Insider Transactions at Halliburton

In other Halliburton news, CFO Eric Carre sold 24,778 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.89, for a total value of $889,282.42. Following the completion of the transaction, the chief financial officer directly owned 148,520 shares in the company, valued at $5,330,382.80. This trade represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jeffrey Shannon Slocum sold 52,572 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the completion of the transaction, the chief operating officer owned 118,730 shares of the company’s stock, valued at approximately $4,166,235.70. The trade was a 30.69% 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. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Capital One Financial increased their price target on Halliburton from $41.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. TD Cowen lowered their target price on Halliburton from $48.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Barclays dropped their price target on shares of Halliburton from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Wolfe Research initiated coverage on shares of Halliburton in a report on Wednesday, July 8th. They issued a “peer perform” rating for the company. Finally, Piper Sandler upgraded shares of Halliburton from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $43.00 in a research report on Tuesday, July 14th. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.10.

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.