Cary Street Partners Financial LLC Has $2.39 Million Stock Holdings in Halliburton Company $HAL

Cary Street Partners Financial LLC raised its holdings in shares of Halliburton Company (NYSE:HAL) by 138.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 96,997 shares of the oilfield services company’s stock after acquiring an additional 56,274 shares during the period. Cary Street Partners Financial LLC’s holdings in Halliburton were worth $2,386,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Halliburton by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company’s stock valued at $2,353,000 after buying an additional 6,507 shares during the period. Woodline Partners LP increased its stake in shares of Halliburton by 39.0% in the 1st quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company’s stock valued at $1,861,000 after acquiring an additional 20,583 shares during the last quarter. Focus Partners Wealth raised its position in shares of Halliburton by 25.0% in the 1st quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company’s stock valued at $1,320,000 after acquiring an additional 10,408 shares during the period. Intech Investment Management LLC boosted its stake in Halliburton by 309.1% during the 1st quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company’s stock worth $1,749,000 after acquiring an additional 52,092 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Halliburton during the first quarter valued at approximately $895,000. 85.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Halliburton

In related news, EVP Van H. Beckwith sold 54,348 shares of Halliburton stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $34.96, for a total value of $1,900,006.08. Following the sale, the executive vice president owned 344,535 shares of the company’s stock, valued at approximately $12,044,943.60. The trade was a 13.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lawrence J. Pope sold 100,000 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $32.25, for a total value of $3,225,000.00. Following the sale, the executive vice president owned 419,800 shares in the company, valued at $13,538,550. The trade was a 19.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 337,002 shares of company stock valued at $11,445,938 over the last quarter. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HAL. JPMorgan Chase & Co. lifted their price target on shares of Halliburton from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, January 22nd. TD Cowen lifted their target price on Halliburton from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Piper Sandler increased their price target on Halliburton from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Stifel Nicolaus set a $36.00 price objective on Halliburton in a report on Thursday, January 22nd. Finally, BMO Capital Markets boosted their price objective on Halliburton from $36.00 to $39.00 and gave the company a “market perform” rating in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.19.

Halliburton Stock Up 1.2%

HAL stock opened at $35.71 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.04 and a quick ratio of 1.51. The stock has a market capitalization of $29.91 billion, a P/E ratio of 23.65, a P/E/G ratio of 2.10 and a beta of 0.77. Halliburton Company has a fifty-two week low of $18.72 and a fifty-two week high of $36.18. The business has a 50-day moving average of $32.45 and a 200-day moving average of $27.37.

Halliburton (NYSE:HAL) last released its earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.55 by $0.14. Halliburton had a return on equity of 19.77% and a net margin of 5.78%.The firm had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the previous year, the business posted $0.73 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year. On average, sell-side analysts anticipate that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $0.68 dividend on an annualized basis and a yield of 1.9%. Halliburton’s dividend payout ratio (DPR) is 45.03%.

About Halliburton

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.