B. Riley Wealth Advisors Inc. Purchases New Shares in Halliburton Company $HAL

B. Riley Wealth Advisors Inc. bought a new stake in Halliburton Company (NYSE:HAL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 37,404 shares of the oilfield services company’s stock, valued at approximately $762,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC bought a new position in Halliburton in the 2nd quarter worth about $287,000. V Square Quantitative Management LLC boosted its holdings in shares of Halliburton by 82.1% in the 2nd quarter. V Square Quantitative Management LLC now owns 48,900 shares of the oilfield services company’s stock worth $997,000 after purchasing an additional 22,045 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Halliburton by 42.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 308,099 shares of the oilfield services company’s stock valued at $7,816,000 after purchasing an additional 91,791 shares during the last quarter. Perpetual Ltd raised its holdings in shares of Halliburton by 29.7% during the 2nd quarter. Perpetual Ltd now owns 1,081,928 shares of the oilfield services company’s stock valued at $22,050,000 after buying an additional 248,015 shares in the last quarter. Finally, Jump Financial LLC lifted its position in Halliburton by 2,895.2% in the 1st quarter. Jump Financial LLC now owns 756,150 shares of the oilfield services company’s stock worth $19,184,000 after buying an additional 730,905 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HAL. Morgan Stanley set a $34.00 target price on Halliburton in a report on Monday. Zacks Research raised Halliburton from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 23rd. Piper Sandler increased their price target on shares of Halliburton from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Redburn Partners set a $35.00 target price on Halliburton in a report on Monday, November 3rd. Finally, UBS Group raised their price target on shares of Halliburton from $24.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.41.

Halliburton Price Performance

HAL stock opened at $27.24 on Wednesday. The company has a market capitalization of $22.92 billion, a PE ratio of 18.04 and a beta of 0.81. The company’s fifty day moving average price is $26.27 and its 200-day moving average price is $23.55. 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 Company has a one year low of $18.72 and a one year high of $30.40.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Tuesday, October 21st. The oilfield services company reported $0.58 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 net margin of 5.91% and a return on equity of 20.12%. Halliburton’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.73 earnings per share. On average, equities analysts anticipate that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd will be issued a $0.17 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.5%. Halliburton’s payout ratio is presently 45.03%.

Insiders Place Their Bets

In related news, insider Mark Richard sold 160,000 shares of Halliburton stock in a transaction dated 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 directly owned 452,374 shares in the company, valued at $12,562,425.98. The trade was a 26.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Van H. Beckwith sold 8,854 shares of the stock in a transaction on Friday, December 5th. The shares were sold at an average price of $27.89, for a total value of $246,938.06. Following the sale, the executive vice president directly owned 333,528 shares in the company, valued at $9,302,095.92. This trade represents a 2.59% decrease in their position. The SEC filing for this sale provides additional information. 0.61% of the stock is currently owned by corporate 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.