Empowered Funds LLC Buys New Holdings in Halliburton Company $HAL

Empowered Funds LLC bought a new position in Halliburton Company (NYSE:HAL) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 740,976 shares of the oilfield services company’s stock, valued at approximately $25,156,000.

Other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Halliburton by 7.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company’s stock valued at $2,353,000 after buying an additional 6,507 shares during the period. Woodline Partners LP lifted its holdings in shares of Halliburton by 39.0% during the 1st quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company’s stock worth $1,861,000 after acquiring an additional 20,583 shares during the period. Focus Partners Wealth boosted its position in shares of Halliburton by 25.0% during the 1st quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company’s stock valued at $1,320,000 after acquiring an additional 10,408 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of Halliburton by 309.1% during the 1st quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company’s stock valued at $1,749,000 after acquiring an additional 52,092 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Halliburton in the first quarter valued at about $895,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Activity

In other news, CFO Eric Carre sold 24,778 shares of the firm’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 transaction, the chief financial officer 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 Halliburton stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the sale, the chief operating officer owned 118,730 shares of the company’s stock, valued at approximately $4,166,235.70. This represents a 30.69% 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 own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HAL shares. TD Cowen lowered their price objective on Halliburton from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Susquehanna decreased their price target on 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 upgraded Halliburton from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 22nd. Morgan Stanley cut their price objective on Halliburton from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Finally, Piper Sandler upgraded shares of Halliburton from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $40.00 to $43.00 in a research note on Tuesday, July 14th. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.10.

Halliburton Trading Up 3.2%

Shares of NYSE HAL opened at $35.55 on Friday. Halliburton Company has a 1-year low of $21.40 and a 1-year high of $43.59. 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 company has a 50-day moving average of $33.79 and a two-hundred day moving average of $36.54. The company has a market cap of $29.62 billion, a PE ratio of 18.61, a P/E/G ratio of 2.16 and a beta of 0.73.

Halliburton (NYSE:HAL) last issued 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 during the quarter, compared to analyst estimates of $5.50 billion. During the same quarter last year, the business posted $0.55 earnings per share. Halliburton’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities analysts expect that Halliburton Company will post 2.34 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, September 2nd. Halliburton’s dividend payout ratio (DPR) is presently 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.