Stablepoint Partners LLC Has $967,000 Stock Position in Halliburton (NYSE:HAL)

Stablepoint Partners LLC boosted its stake in Halliburton (NYSE:HAL) by 7.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,533 shares of the oilfield services company’s stock after purchasing an additional 1,989 shares during the quarter. Stablepoint Partners LLC’s holdings in Halliburton were worth $967,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of HAL. Price T Rowe Associates Inc. MD raised its position in shares of Halliburton by 46.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock valued at $2,408,171,000 after buying an additional 19,237,784 shares in the last quarter. Norges Bank acquired a new position in Halliburton during the fourth quarter valued at approximately $400,070,000. Vanguard Group Inc. raised its position in Halliburton by 2.7% during the first quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock valued at $3,952,805,000 after purchasing an additional 2,618,740 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Halliburton by 24.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,878,811 shares of the oilfield services company’s stock worth $284,822,000 after purchasing an additional 1,568,485 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Halliburton by 116.9% in the 1st quarter. Principal Financial Group Inc. now owns 2,483,230 shares of the oilfield services company’s stock valued at $97,889,000 after purchasing an additional 1,338,371 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Insider Buying and Selling

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $36.75, for a total value of $367,500.00. Following the transaction, the executive vice president now directly owns 273,908 shares of the company’s stock, valued at $10,066,119. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on HAL shares. Piper Sandler dropped their price objective on Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. JPMorgan Chase & Co. dropped their target price on shares of Halliburton from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. The Goldman Sachs Group decreased their price target on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Johnson Rice raised shares of Halliburton to a “moderate buy” rating in a research note on Friday, July 19th. Finally, Morgan Stanley decreased their target price on shares of Halliburton from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.88.

Halliburton Stock Down 1.2 %

Shares of NYSE HAL opened at $29.07 on Friday. The company’s 50 day moving average price is $32.54 and its 200-day moving average price is $35.34. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13. Halliburton has a 52-week low of $28.99 and a 52-week high of $43.85. The company has a market capitalization of $25.74 billion, a P/E ratio of 10.06, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89.

Halliburton (NYSE:HAL) last released its earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.95 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. Halliburton’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. Equities analysts forecast that Halliburton will post 3.14 earnings per share for the current year.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 4th. This represents a $0.68 annualized dividend and a dividend yield of 2.34%. Halliburton’s payout ratio is 23.53%.

Halliburton Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.