Nwam LLC Sells 47,655 Shares of Halliburton Company $HAL

Nwam LLC lowered its holdings in Halliburton Company (NYSE:HAL) by 36.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 83,842 shares of the oilfield services company’s stock after selling 47,655 shares during the quarter. Nwam LLC’s holdings in Halliburton were worth $2,846,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of HAL. Meeder Asset Management Inc. bought a new position in shares of Halliburton in the second quarter valued at $26,000. Kilter Group LLC acquired a new position in shares of Halliburton during the second quarter valued at about $26,000. Silvant Capital Management LLC bought a new stake in shares of Halliburton during the second quarter worth about $28,000. Matrix Trust Co bought a new stake in shares of Halliburton during the second quarter worth about $29,000. Finally, Zions Bancorporation National Association UT raised its holdings in shares of Halliburton by 196.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock worth $28,000 after acquiring an additional 650 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Insider Buying and Selling

In other Halliburton news, COO Jeffrey Shannon Slocum sold 52,572 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total value 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. This trade represents a 30.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 on Thursday, June 18th. The shares were sold at an average price of $35.89, for a total value of $889,282.42. Following the completion of the sale, the chief financial officer 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. 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. Insiders own 0.57% of the company’s stock.

Halliburton News Summary

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Potential Venezuela expansion: Halliburton is reportedly nearing a billion-dollar oil-services opportunity tied to a U.S.-backed effort to rebuild Venezuela’s production infrastructure. The company could benefit from drilling, well-cementing, reservoir evaluation and other services as Chevron and other producers invest in restoring aging fields. Chevron and Halliburton Near Billion-Dollar Venezuela Oil Deals
• Positive Sentiment: Historic U.S.-Venezuela oil agreement: Reports that Washington and Caracas have reached an oil deal are reinforcing expectations for long-term capital spending in Venezuela. As a major oilfield-services provider, HAL may act as a “picks-and-shovels” beneficiary if international producers receive access to reserves and begin upgrading infrastructure. Energy ETFs to Watch as US-Venezuela Sign Historic Oil Deal
• Positive Sentiment: Higher oil prices and geopolitical risk: Energy stocks moved higher as Middle East tensions and reported U.S. strikes supported crude prices. Sustained oil prices could encourage customers to increase exploration and production budgets, improving demand for Halliburton’s services. Chevron, Exxon and Other Oil Stocks Jump as Two Huge Energy Stories Collide
• Positive Sentiment: New-energy diversification: Halliburton has been selected for work on the Cornwall lithium project, highlighting an opportunity to apply its subsurface and well-construction expertise outside traditional oil and gas. The project is strategically interesting, though its near-term earnings impact is uncertain. Cornwall lithium project brings in American oil service titan Halliburton
• Neutral Sentiment: Analyst caution: Wall Street Zen downgraded HAL to “Hold,” suggesting valuation and cyclical oilfield-services risks may already be reflected in the stock. The downgrade was offset by the firm oil-market backdrop, leaving shares broadly steady in the referenced coverage. Halliburton Cut to Hold at Wall Street Zen
• Negative Sentiment: Macro risks: Rising oil prices tied to Middle East conflict could also increase inflation and interest-rate concerns, potentially pressuring broad equity valuations and slowing customer spending if the economic outlook deteriorates. Tesla, PG&E, Nvidia, SLB, Pinterest, and More Stocks That Explain Today’s Market

Wall Street Analyst Weigh In

HAL has been the topic of several recent research reports. Wolfe Research began coverage on shares of Halliburton in a research report on Wednesday, July 8th. They issued a “peer perform” rating on the stock. Freedom Capital raised Halliburton from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 22nd. TD Cowen lowered their price objective on Halliburton from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Argus cut their target price on Halliburton from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Finally, UBS Group decreased their price target on Halliburton from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Eighteen investment 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.10.

Halliburton Stock Performance

NYSE HAL opened at $36.85 on Wednesday. Halliburton Company has a 52-week low of $21.40 and a 52-week high of $43.59. The company has a 50-day simple moving average of $33.88 and a 200 day simple moving average of $36.58. 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 company has a market capitalization of $30.70 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 2.31 and a beta of 0.76.

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

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, September 2nd. Halliburton’s payout ratio is 35.60%.

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.