Envestnet Portfolio Solutions Inc. Has $695,000 Stock Position in Halliburton (NYSE:HAL)

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Halliburton (NYSE:HAL) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,569 shares of the oilfield services company’s stock after selling 593 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Halliburton were worth $695,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Rise Advisors LLC acquired a new stake in shares of Halliburton during the 1st quarter worth $26,000. IAG Wealth Partners LLC acquired a new stake in shares of Halliburton during the 1st quarter worth $30,000. Johnson Financial Group Inc. bought a new stake in shares of Halliburton during the 4th quarter worth $33,000. First United Bank & Trust bought a new stake in shares of Halliburton during the 4th quarter worth $36,000. Finally, Bruce G. Allen Investments LLC lifted its position in shares of Halliburton by 274.9% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock worth $38,000 after buying an additional 822 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $36.75, for a total transaction of $367,500.00. Following the completion of the sale, the executive vice president now owns 273,908 shares of the company’s stock, valued at $10,066,119. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HAL has been the subject of several recent analyst reports. Bank of America dropped their price objective on Halliburton from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Piper Sandler dropped their price objective on Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Jefferies Financial Group dropped their price objective on Halliburton from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Johnson Rice upgraded Halliburton to a “moderate buy” rating in a research report on Friday, July 19th. Finally, Wells Fargo & Company dropped their price objective on Halliburton from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $45.35.

Halliburton Price Performance

Shares of HAL opened at $31.85 on Tuesday. Halliburton has a 1 year low of $30.31 and a 1 year high of $43.85. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 1.54. The company has a market capitalization of $28.20 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 1.12 and a beta of 1.93. The business has a 50-day moving average of $33.28 and a 200-day moving average of $35.70.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The company had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.95 billion. During the same period last year, the company earned $0.77 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. As a group, equities research analysts anticipate that Halliburton will post 3.18 earnings per share for the current year.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $0.68 annualized dividend and a yield of 2.14%. Halliburton’s dividend payout ratio is currently 23.53%.

Halliburton Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.