New Wave Wealth Advisors LLC Acquires Shares of 15,425 Halliburton (NYSE:HAL)

New Wave Wealth Advisors LLC bought a new position in Halliburton (NYSE:HAL) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 15,425 shares of the oilfield services company’s stock, valued at approximately $521,000.

Several other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC acquired a new stake in Halliburton during the first quarter worth about $26,000. Bruce G. Allen Investments LLC increased its holdings in shares of Halliburton by 274.9% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock worth $38,000 after acquiring an additional 822 shares during the period. Crewe Advisors LLC bought a new stake in Halliburton in the 1st quarter valued at about $46,000. Beacon Capital Management LLC boosted its stake in Halliburton by 28.8% during the 1st quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock valued at $54,000 after purchasing an additional 309 shares during the period. Finally, General Partner Inc. acquired a new position in Halliburton during the 1st quarter valued at about $55,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Transactions at Halliburton

In related news, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total value of $367,500.00. Following the completion of the transaction, the executive vice president now owns 273,908 shares of the company’s stock, valued at approximately $10,066,119. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wells Fargo & Company dropped their price target on shares of Halliburton from $46.00 to $39.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. JPMorgan Chase & Co. cut their target price on Halliburton from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Dbs Bank started coverage on Halliburton in a research report on Wednesday, September 18th. They set a “buy” rating and a $45.00 price target for the company. UBS Group lowered their price target on Halliburton from $41.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, TD Cowen reduced their price objective on shares of Halliburton from $47.00 to $45.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.56.

Halliburton Price Performance

NYSE HAL opened at $29.05 on Tuesday. Halliburton has a 1 year low of $27.52 and a 1 year high of $43.85. The business’s fifty day moving average is $30.73 and its two-hundred day moving average is $34.51. The stock has a market capitalization of $25.72 billion, a P/E ratio of 10.05, a P/E/G ratio of 1.02 and a beta of 1.89. 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 (NYSE:HAL) last announced its earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The company had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.95 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. Halliburton’s revenue for the quarter was up .6% compared to the same quarter last year. On average, research analysts forecast that Halliburton will post 3.14 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Wednesday, September 4th. 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.