L2 Asset Management LLC Acquires New Holdings in Halliburton Company $HAL

L2 Asset Management LLC bought a new stake in shares of Halliburton Company (NYSE:HAL) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 189,772 shares of the oilfield services company’s stock, valued at approximately $6,443,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of HAL. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Halliburton by 10.2% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,794 shares of the oilfield services company’s stock valued at $109,000 after buying an additional 258 shares during the last quarter. Vermillion Wealth Management Inc. grew its holdings in Halliburton by 24.8% in the 4th quarter. Vermillion Wealth Management Inc. now owns 1,456 shares of the oilfield services company’s stock worth $41,000 after buying an additional 289 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in Halliburton by 1.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 23,312 shares of the oilfield services company’s stock worth $659,000 after buying an additional 349 shares in the last quarter. Harbour Investments Inc. increased its position in Halliburton by 7.3% in the 4th quarter. Harbour Investments Inc. now owns 5,320 shares of the oilfield services company’s stock valued at $150,000 after acquiring an additional 361 shares during the period. Finally, Kingsview Wealth Management LLC increased its position in Halliburton by 3.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 10,363 shares of the oilfield services company’s stock valued at $293,000 after acquiring an additional 365 shares during the period. Institutional investors own 85.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on HAL shares. BMO Capital Markets set a $37.00 price target on Halliburton in a research report on Wednesday, July 22nd. Rothschild & Co Redburn raised their price target on Halliburton from $40.00 to $49.00 and gave the company a “buy” rating in a report on Friday, May 15th. Freedom Capital upgraded shares of Halliburton from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Halliburton in a report on Wednesday, July 8th. Finally, Barclays decreased their target price on shares of Halliburton from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.10.

Insider Activity

In other Halliburton news, 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 value of $889,282.42. Following the sale, the chief financial officer directly owned 148,520 shares in the company, valued at approximately $5,330,382.80. The trade was a 14.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jeffrey Shannon Slocum sold 52,572 shares of the company’s 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 directly owned 118,730 shares of the company’s stock, valued at $4,166,235.70. The trade was a 30.69% 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. 0.57% of the stock is currently owned by insiders.

Halliburton Stock Performance

Shares of NYSE HAL opened at $34.63 on Tuesday. The stock has a fifty day moving average price of $33.88 and a two-hundred day moving average price of $36.54. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.50 and a current ratio of 2.02. The firm has a market cap of $28.85 billion, a P/E ratio of 18.13, a PEG ratio of 2.21 and a beta of 0.73. Halliburton Company has a 1 year low of $21.40 and a 1 year high of $43.59.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.55 EPS. Research analysts forecast that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, September 2nd. Halliburton’s payout ratio is presently 35.60%.

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.