NewEdge Wealth LLC Purchases Shares of 15,913 Halliburton Company $HAL

NewEdge Wealth LLC purchased a new stake in Halliburton Company (NYSE:HAL) during the 4th quarter, Holdings Channel.com reports. The firm purchased 15,913 shares of the oilfield services company’s stock, valued at approximately $450,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of HAL. Nvest Wealth Strategies Inc. bought a new position in shares of Halliburton in the 4th quarter valued at about $25,000. Kelleher Financial Advisors bought a new position in shares of Halliburton in the 3rd quarter valued at about $25,000. Cullen Frost Bankers Inc. bought a new position in shares of Halliburton in the 3rd quarter valued at about $25,000. GoalVest Advisory LLC bought a new position in shares of Halliburton in the 4th quarter valued at about $35,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Halliburton in the 2nd quarter valued at about $25,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HAL. Evercore upgraded Halliburton from an “in-line” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Friday, March 20th. BMO Capital Markets upped their price objective on Halliburton from $42.00 to $45.00 and gave the stock a “market perform” rating in a research note on Wednesday. UBS Group upped their price objective on Halliburton from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. upped their price objective on Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Finally, HSBC upped their price objective on Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Eighteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $42.45.

Insider Buying and Selling at Halliburton

In related news, VP Timothy Mckeon sold 8,655 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $42.00, for a total transaction of $363,510.00. Following the sale, the vice president owned 72,976 shares of the company’s stock, valued at $3,064,992. This represents a 10.60% decrease in their ownership of the stock. 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, insider Michael Casey Maxwell sold 20,348 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $41.89, for a total value of $852,377.72. Following the sale, the insider directly owned 93,763 shares in the company, valued at $3,927,732.07. This represents a 17.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 222,488 shares of company stock valued at $8,789,305 over the last ninety days. 0.57% of the stock is owned by corporate insiders.

Halliburton Price Performance

Halliburton stock opened at $41.71 on Friday. Halliburton Company has a 12 month low of $19.38 and a 12 month high of $42.46. The stock’s 50 day moving average is $38.24 and its 200-day moving average is $33.12. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $34.85 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 1.83 and a beta of 0.73.

Halliburton (NYSE:HAL) last posted its earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts expect that Halliburton Company will post 2.32 EPS for the current year.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Wednesday, March 4th. Halliburton’s payout ratio is 37.36%.

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.