Clough Capital Partners L P Buys Shares of 566,429 Halliburton Company $HAL

Clough Capital Partners L P bought a new position in shares of Halliburton Company (NYSE:HAL) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 566,429 shares of the oilfield services company’s stock, valued at approximately $22,085,000. Halliburton makes up 2.1% of Clough Capital Partners L P’s portfolio, making the stock its 18th largest position. Clough Capital Partners L P owned 0.07% of Halliburton at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Nvest Wealth Strategies Inc. bought a new stake in shares of Halliburton during the 4th quarter valued at $25,000. Kelleher Financial Advisors bought a new position in Halliburton in the 3rd quarter worth about $25,000. Newbridge Financial Services Group Inc. bought a new position in Halliburton in the 2nd quarter worth about $25,000. Zions Bancorporation National Association UT grew its holdings in Halliburton by 196.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock valued at $28,000 after buying an additional 650 shares in the last quarter. Finally, Strive Asset Management LLC purchased a new position in Halliburton during the 3rd quarter valued at about $31,000. 85.23% of the stock is owned by institutional investors.

Key Halliburton News

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton reported Q2 revenue of $5.71 billion and EPS of $0.55, both modestly ahead of expectations, reinforcing that core business performance remains solid. Article title
• Positive Sentiment: The company won a new integrated field development contract with Basra Oil Company in Iraq, adding another large international project and expanding its presence in a key oil-producing region. Article title
• Positive Sentiment: Halliburton also secured additional development work in Kuwait, reinforcing the view that recent contract wins are improving its growth outlook and supporting its international business mix. Article title
• Neutral Sentiment: Several commentary pieces pointed to a stronger long-term outlook thanks to Halliburton’s technology edge and global contract pipeline, but also noted that geopolitical risk and uneven execution could limit near-term upside.
• Neutral Sentiment: TD Cowen reportedly lowered expectations for Halliburton, and other firms trimmed price targets, suggesting analysts remain cautious even as the stock benefits from new business wins.
• Negative Sentiment: Analyst target cuts and mixed sentiment may cap enthusiasm if investors worry that recent contract wins are not enough to quickly reaccelerate margins or earnings growth.

Halliburton Price Performance

HAL stock opened at $33.31 on Monday. The firm has a 50 day simple moving average of $36.94 and a two-hundred day simple moving average of $36.48. The stock has a market cap of $27.83 billion, a PE ratio of 17.44, a P/E/G ratio of 1.54 and a beta of 0.71. Halliburton Company has a one year low of $20.39 and a one year high of $43.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.50.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The firm had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter last year, the company posted $0.55 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts predict that Halliburton Company will post 2.35 EPS for the current fiscal year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.68 annualized dividend and a yield of 2.0%. Halliburton’s payout ratio is 35.60%.

Insider Activity

In related news, CFO Eric Carre sold 24,778 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $35.89, for a total transaction of $889,282.42. Following the transaction, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at approximately $5,330,382.80. This trade represents a 14.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Tobi M. Young sold 6,125 shares of Halliburton stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $41.72, for a total transaction of $255,535.00. Following the transaction, the director directly owned 15,250 shares in the company, valued at $636,230. This trade represents a 28.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 258,255 shares of company stock worth $10,550,535. 0.57% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HAL has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $47.00 price target on shares of Halliburton in a report on Sunday, April 26th. Rothschild & Co Redburn boosted their price objective on shares of Halliburton from $40.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Evercore reaffirmed an “outperform” rating and set a $43.00 target price on shares of Halliburton in a report on Wednesday. TD Cowen lowered their target price on shares of Halliburton from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Finally, Piper Sandler raised shares of Halliburton from a “neutral” rating to an “overweight” rating and raised their price target for the company from $40.00 to $43.00 in a report on Tuesday, July 14th. Eighteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.14.

Halliburton 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.