Tocqueville Asset Management L.P. Purchases New Position in Halliburton Company $HAL

Tocqueville Asset Management L.P. purchased a new position in Halliburton Company (NYSE:HAL) in the 2nd quarter, HoldingsChannel reports. The firm purchased 21,584 shares of the oilfield services company’s stock, valued at approximately $733,000.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Halliburton during the second quarter valued at approximately $2,812,327,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Halliburton by 82,596.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock worth $841,339,000 after purchasing an additional 29,735,387 shares during the period. Capital Research Global Investors increased its position in shares of Halliburton by 21.1% during the 4th quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock valued at $3,114,848,000 after purchasing an additional 19,190,520 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Halliburton during the 2nd quarter valued at approximately $337,486,000. Finally, Norges Bank purchased a new stake in Halliburton during the 4th quarter valued at $169,304,000. 85.23% of the stock is owned by institutional investors.

Halliburton Price Performance

HAL opened at $35.38 on Friday. The business has a fifty day moving average of $33.95 and a 200 day moving average of $36.50. The stock has a market cap of $29.48 billion, a P/E ratio of 18.52, a PEG ratio of 2.23 and a beta of 0.73. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64. Halliburton Company has a 52-week low of $21.40 and a 52-week high of $43.59.

Halliburton (NYSE:HAL) last released its earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same quarter last year, the firm posted $0.55 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Halliburton Company will post 2.34 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Rothschild & Co Redburn raised their price target on Halliburton from $40.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Susquehanna cut their price objective on shares of Halliburton from $45.00 to $42.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. UBS Group reduced their target price on shares of Halliburton from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Barclays lowered their target price on shares of Halliburton from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Finally, Argus cut their price target on shares of Halliburton from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Eighteen equities research 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. According to data from MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and an average price target of $43.10.

Key Headlines Impacting Halliburton

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton Labs added Electroflow, Osmoses and SiTration to its portfolio. The companies focus on battery materials, gas separation and critical-metal recovery, giving Halliburton exposure to emerging energy technologies and potentially supporting longer-term diversification beyond traditional oilfield services. Halliburton Labs Announces Three New Portfolio Companies
• Positive Sentiment: Halliburton’s latest quarterly results showed modest operational strength: earnings per share exceeded estimates, revenue reached $5.71 billion versus a $5.50 billion consensus, and sales increased 3.7% year over year. Analysts remain broadly constructive, with a consensus “Moderate Buy” rating and an average price target of $43.10, well above recent trading levels. Q2 Rundown: Halliburton Vs Other Oilfield Services Stocks
• Neutral Sentiment: Recent options-market activity has drawn attention to the possibility of a larger move in HAL, but the available report does not establish whether traders are positioned for a rise or decline. The activity mainly signals increased volatility expectations. Are Options Traders Betting on a Big Move in Halliburton Stock?
• Negative Sentiment: COO Jeffrey Shannon Slocum sold 52,572 shares worth approximately $1.84 million, reducing his direct ownership by 30.69%. The transaction was made under a pre-arranged Rule 10b5-1 plan, which makes it a weaker bearish signal, but the size of the sale may still weigh on sentiment.
• Negative Sentiment: Although Halliburton beat quarterly estimates, EPS was unchanged from the year-earlier period, and analysts have recently lowered several price targets. That combination suggests expectations for near-term oilfield-services growth remain restrained despite the company’s longer-term opportunities.

Insider Transactions at Halliburton

In related news, COO Jeffrey Shannon Slocum sold 52,572 shares of Halliburton stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the completion of the sale, the chief operating officer owned 118,730 shares in the company, valued at $4,166,235.70. This trade represents a 30.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.89, for a total transaction of $889,282.42. Following the completion of the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.57% of the company’s stock.

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.