Parallel Advisors LLC Has $314,000 Stock Position in Halliburton (NYSE:HAL)

Parallel Advisors LLC increased its stake in Halliburton (NYSE:HAL) by 13.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 9,300 shares of the oilfield services company’s stock after purchasing an additional 1,102 shares during the quarter. Parallel Advisors LLC’s holdings in Halliburton were worth $314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. 9258 Wealth Management LLC grew its position in shares of Halliburton by 14.0% in the 4th quarter. 9258 Wealth Management LLC now owns 30,879 shares of the oilfield services company’s stock valued at $1,116,000 after acquiring an additional 3,803 shares during the period. Avantax Advisory Services Inc. increased its position in Halliburton by 27.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 13,827 shares of the oilfield services company’s stock worth $500,000 after buying an additional 2,952 shares during the last quarter. Beacon Pointe Advisors LLC raised its stake in Halliburton by 2.9% in the fourth quarter. Beacon Pointe Advisors LLC now owns 26,127 shares of the oilfield services company’s stock valued at $945,000 after buying an additional 733 shares during the period. Brown Advisory Inc. raised its stake in Halliburton by 3.6% in the fourth quarter. Brown Advisory Inc. now owns 22,736 shares of the oilfield services company’s stock valued at $822,000 after buying an additional 780 shares during the period. Finally, Sachetta LLC bought a new position in shares of Halliburton during the 4th quarter worth approximately $79,000. 85.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. TD Cowen cut their price target on Halliburton from $47.00 to $45.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Piper Sandler cut their target price on shares of Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Dbs Bank assumed coverage on shares of Halliburton in a report on Wednesday. They issued a “buy” rating and a $45.00 price target on the stock. UBS Group reduced their price objective on Halliburton from $41.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Susquehanna lowered their target price on Halliburton from $49.00 to $46.00 and set a “positive” rating on the stock in a research note on Monday, July 22nd. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Halliburton presently has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Insider Buying and Selling at Halliburton

In other news, EVP Van H. Beckwith sold 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $36.75, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.61% of the company’s stock.

Halliburton Stock Down 0.7 %

Shares of NYSE HAL opened at $29.10 on Thursday. The stock has a market capitalization of $25.76 billion, a P/E ratio of 10.07, a PEG ratio of 0.95 and a beta of 1.89. The stock’s fifty day moving average is $31.66 and its 200 day moving average is $34.92. Halliburton has a 52 week low of $27.52 and a 52 week high of $43.85. 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 issued its earnings results on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The company had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.95 billion. During the same period in the previous year, the company earned $0.77 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts forecast that Halliburton will post 3.14 earnings per share for the current fiscal year.

Halliburton Announces Dividend

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

About Halliburton

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.