Acadian Asset Management LLC Acquires 36,106 Shares of Halliburton (NYSE:HAL)

Acadian Asset Management LLC raised its holdings in shares of Halliburton (NYSE:HAL) by 3,757.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,067 shares of the oilfield services company’s stock after purchasing an additional 36,106 shares during the quarter. Acadian Asset Management LLC’s holdings in Halliburton were worth $1,251,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. 9258 Wealth Management LLC raised its holdings in shares of Halliburton by 14.0% in the fourth 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 in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Halliburton by 7.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 17,924 shares of the oilfield services company’s stock valued at $648,000 after acquiring an additional 1,304 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Halliburton by 27.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 13,827 shares of the oilfield services company’s stock valued at $500,000 after acquiring an additional 2,952 shares in the last quarter. Beacon Pointe Advisors LLC raised its holdings in shares of 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 acquiring an additional 733 shares in the last quarter. Finally, NorthRock Partners LLC raised its holdings in shares of Halliburton by 24.8% in the fourth quarter. NorthRock Partners LLC now owns 6,400 shares of the oilfield services company’s stock valued at $231,000 after acquiring an additional 1,271 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Halliburton Price Performance

Shares of NYSE HAL opened at $27.87 on Monday. The business’s 50 day moving average price is $31.90 and its 200 day moving average price is $35.05. The firm has a market cap of $24.67 billion, a P/E ratio of 9.64, a P/E/G ratio of 0.95 and a beta of 1.89. Halliburton has a 52 week low of $27.52 and a 52 week high of $43.85. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $5.95 billion. During the same period in the previous year, the company posted $0.77 earnings per share. Halliburton’s revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts expect that Halliburton will post 3.14 earnings per share for the current year.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Wednesday, September 4th. Halliburton’s payout ratio is presently 23.53%.

Analyst Ratings Changes

Several equities analysts have issued reports on HAL shares. 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. Piper Sandler cut their target price on Halliburton from $46.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Evercore ISI cut their target price on Halliburton from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Citigroup cut their target price on Halliburton from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, Benchmark restated a “buy” rating and set a $42.00 price target on shares of Halliburton in a research note on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Halliburton presently has a consensus rating of “Moderate Buy” and an average target price of $44.47.

Insider Buying and Selling at Halliburton

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 completion of 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

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.