Cetera Investment Advisers Increases Stake in Halliburton Company $HAL

Cetera Investment Advisers increased its stake in Halliburton Company (NYSE:HAL) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,296 shares of the oilfield services company’s stock after buying an additional 2,577 shares during the period. Cetera Investment Advisers’ holdings in Halliburton were worth $2,615,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of HAL. Charles Schwab Investment Management Inc. raised its position in shares of Halliburton by 450.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company’s stock worth $759,623,000 after acquiring an additional 24,506,472 shares in the last quarter. Geode Capital Management LLC grew its stake in Halliburton by 0.4% in the second quarter. Geode Capital Management LLC now owns 22,342,963 shares of the oilfield services company’s stock worth $453,461,000 after purchasing an additional 92,549 shares during the period. Invesco Ltd. raised its holdings in Halliburton by 7.3% in the first quarter. Invesco Ltd. now owns 10,813,905 shares of the oilfield services company’s stock worth $274,349,000 after purchasing an additional 731,105 shares in the last quarter. LSV Asset Management lifted its position in Halliburton by 3.3% during the first quarter. LSV Asset Management now owns 6,113,044 shares of the oilfield services company’s stock valued at $155,088,000 after buying an additional 193,022 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Halliburton by 5.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,279,815 shares of the oilfield services company’s stock valued at $133,949,000 after buying an additional 282,492 shares in the last quarter. 85.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on HAL. Stifel Nicolaus set a $32.00 price target on shares of Halliburton in a research report on Wednesday, October 22nd. Melius Research assumed coverage on shares of Halliburton in a research note on Wednesday, August 20th. They set a “buy” rating and a $41.00 target price for the company. HSBC set a $30.00 price target on Halliburton and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Melius initiated coverage on Halliburton in a research report on Wednesday, August 20th. They set a “buy” rating and a $41.00 price objective for the company. Finally, Piper Sandler lifted their price objective on Halliburton from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Halliburton presently has an average rating of “Moderate Buy” and an average price target of $31.55.

Halliburton Price Performance

HAL opened at $26.28 on Friday. The company’s 50-day simple moving average is $25.41 and its two-hundred day simple moving average is $22.87. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.43 and a current ratio of 1.95. The stock has a market capitalization of $22.11 billion, a P/E ratio of 17.40 and a beta of 1.03. Halliburton Company has a 52-week low of $18.72 and a 52-week high of $32.17.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, October 21st. The oilfield services company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.39 billion. Halliburton had a net margin of 5.91% and a return on equity of 20.12%. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.73 earnings per share. As a group, analysts predict that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, December 3rd. Halliburton’s dividend payout ratio is presently 45.03%.

Insider Activity

In related news, insider Mark Richard sold 160,000 shares of Halliburton stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $27.77, for a total value of $4,443,200.00. Following the completion of the sale, the insider owned 452,374 shares of the company’s stock, valued at $12,562,425.98. The trade was a 26.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.56% of the stock is currently owned by company insiders.

About Halliburton

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.