Black Cypress Capital Management LLC Has $8.78 Million Position in Halliburton Company $HAL

Black Cypress Capital Management LLC boosted its position in shares of Halliburton Company (NYSE:HAL) by 56.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 430,744 shares of the oilfield services company’s stock after purchasing an additional 154,842 shares during the quarter. Halliburton comprises 7.2% of Black Cypress Capital Management LLC’s holdings, making the stock its 3rd biggest position. Black Cypress Capital Management LLC owned 0.05% of Halliburton worth $8,779,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in HAL. SBI Securities Co. Ltd. lifted its position in Halliburton by 7.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 7,374 shares of the oilfield services company’s stock valued at $150,000 after acquiring an additional 504 shares in the last quarter. Cerro Pacific Wealth Advisors LLC increased its position in shares of Halliburton by 4.3% in the second quarter. Cerro Pacific Wealth Advisors LLC now owns 13,590 shares of the oilfield services company’s stock worth $277,000 after purchasing an additional 559 shares during the period. International Assets Investment Management LLC lifted its stake in Halliburton by 2.6% during the second quarter. International Assets Investment Management LLC now owns 22,307 shares of the oilfield services company’s stock worth $455,000 after purchasing an additional 566 shares during the last quarter. Yousif Capital Management LLC grew its holdings in shares of Halliburton by 0.6% during the 2nd quarter. Yousif Capital Management LLC now owns 112,023 shares of the oilfield services company’s stock valued at $2,283,000 after purchasing an additional 618 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its stake in shares of Halliburton by 5.9% during the second quarter. Atria Wealth Solutions Inc. now owns 11,358 shares of the oilfield services company’s stock valued at $231,000 after purchasing an additional 630 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insiders Place Their Bets

In other news, insider Mark Richard sold 160,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $27.77, for a total transaction of $4,443,200.00. Following the sale, the insider directly owned 452,374 shares of the company’s stock, valued at $12,562,425.98. This represents a 26.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley upped their price target on shares of Halliburton from $26.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Royal Bank Of Canada raised shares of Halliburton from a “hold” rating to a “moderate buy” rating in a report on Wednesday, October 22nd. Redburn Partners set a $35.00 price objective on Halliburton in a research report on Monday, November 3rd. Bank of America boosted their target price on Halliburton from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Finally, HSBC set a $30.00 price target on shares of Halliburton and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.55.

Halliburton Stock Up 1.9%

HAL stock opened at $26.28 on Friday. The business’s 50-day moving average is $25.41 and its two-hundred day moving average is $22.88. The company has a market cap of $22.11 billion, a price-to-earnings ratio of 17.40 and a beta of 1.03. Halliburton Company has a fifty-two week low of $18.72 and a fifty-two week high of $32.17. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.43 and a current ratio of 1.95.

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

Halliburton Dividend Announcement

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

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.