Simplicity Wealth LLC Takes Position in Halliburton Company $HAL

Simplicity Wealth LLC bought a new position in shares of Halliburton Company (NYSE:HAL) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 260,700 shares of the oilfield services company’s stock, valued at approximately $8,851,000.

Other large investors have also made changes to their positions in the company. Nvest Wealth Strategies Inc. bought a new position in Halliburton in the fourth quarter valued at about $25,000. Kelleher Financial Advisors bought a new stake in Halliburton during the 3rd quarter worth about $25,000. Newbridge Financial Services Group Inc. bought a new stake in Halliburton during the 2nd quarter worth about $25,000. Zions Bancorporation National Association UT lifted its position 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 purchasing an additional 650 shares during the period. Finally, Matrix Trust Co acquired a new position in Halliburton during the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Price Performance

Halliburton stock opened at $34.44 on Monday. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $28.70 billion, a P/E ratio of 18.03, a PEG ratio of 2.15 and a beta of 0.73. The business has a 50-day moving average of $34.42 and a 200-day moving average of $36.47. Halliburton Company has a 1 year low of $20.78 and a 1 year high of $43.59.

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

Halliburton Dividend Announcement

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

Insiders Place Their Bets

In other news, CFO Eric Carre sold 24,778 shares of Halliburton stock in a transaction on Thursday, June 18th. The shares were 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 $5,330,382.80. This trade represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Piper Sandler upgraded shares of Halliburton from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $40.00 to $43.00 in a research report on Tuesday, July 14th. JPMorgan Chase & Co. increased their price objective on shares of Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Susquehanna reduced their price objective on shares of Halliburton from $45.00 to $42.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. Freedom Capital raised shares of Halliburton from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 22nd. Finally, Rothschild & Co Redburn upped their target price on shares of Halliburton from $40.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Eighteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.10.

Halliburton Company 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.