First Horizon Corp Acquires Shares of 16,976 Halliburton Company $HAL

First Horizon Corp bought a new position in shares of Halliburton Company (NYSE:HAL) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 16,976 shares of the oilfield services company’s stock, valued at approximately $418,000.

Other institutional investors have also recently modified their holdings of the company. MGO One Seven LLC boosted its position in Halliburton by 17.7% during the third quarter. MGO One Seven LLC now owns 24,833 shares of the oilfield services company’s stock worth $611,000 after purchasing an additional 3,739 shares in the last quarter. IRON Financial LLC acquired a new position in shares of Halliburton during the 3rd quarter worth approximately $258,000. Bayforest Capital Ltd lifted its position in shares of Halliburton by 114.5% during the 3rd quarter. Bayforest Capital Ltd now owns 16,121 shares of the oilfield services company’s stock valued at $397,000 after buying an additional 8,607 shares in the last quarter. Forum Financial Management LP grew its stake in Halliburton by 69.2% in the 3rd quarter. Forum Financial Management LP now owns 22,989 shares of the oilfield services company’s stock valued at $566,000 after acquiring an additional 9,400 shares during the period. Finally, Hemington Wealth Management grew its stake in Halliburton by 26.7% in the 3rd quarter. Hemington Wealth Management now owns 2,720 shares of the oilfield services company’s stock valued at $66,000 after acquiring an additional 573 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Trading Up 2.2%

Shares of Halliburton stock opened at $32.62 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.95 and a quick ratio of 1.43. The stock’s 50 day simple moving average is $28.08 and its 200-day simple moving average is $24.68. The stock has a market cap of $27.45 billion, a P/E ratio of 21.60 and a beta of 0.78. Halliburton Company has a 1-year low of $18.72 and a 1-year high of $33.03.

Halliburton (NYSE:HAL) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $5.39 billion. Halliburton had a return on equity of 20.12% and a net margin of 5.91%.The firm’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 earnings per share. Analysts predict that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, December 3rd. This represents a $0.68 annualized dividend and a dividend yield of 2.1%. Halliburton’s payout ratio is presently 45.03%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HAL. UBS Group increased their price objective on shares of Halliburton from $24.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, December 12th. TD Cowen raised their price target on shares of Halliburton from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Zacks Research upgraded Halliburton from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 23rd. Hsbc Global Res raised Halliburton from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Morgan Stanley set a $34.00 price target on Halliburton in a research note on Monday, December 15th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.71.

Insider Activity at Halliburton

In other Halliburton news, EVP Lawrence J. Pope sold 100,000 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $32.25, for a total value of $3,225,000.00. Following the transaction, the executive vice president directly owned 419,800 shares in the company, valued at $13,538,550. The trade was a 19.24% decrease in their position. The transaction was disclosed in a document filed 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 that occurred on Friday, December 5th. The shares were sold at an average price of $27.89, for a total transaction of $246,938.06. Following the completion of the sale, the executive vice president directly owned 333,528 shares of the company’s stock, valued at approximately $9,302,095.92. This trade represents a 2.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 268,854 shares of company stock valued at $7,915,138. 0.61% of the stock is owned by company insiders.

Halliburton Company 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.