Mittelman Wealth Management Acquires New Stake in Halliburton (NYSE:HAL)

Mittelman Wealth Management bought a new stake in Halliburton (NYSE:HAL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,276 shares of the oilfield services company’s stock, valued at approximately $212,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in Halliburton by 46.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock worth $2,408,171,000 after acquiring an additional 19,237,784 shares during the last quarter. LSV Asset Management lifted its stake in shares of Halliburton by 24,954.1% during the 2nd quarter. LSV Asset Management now owns 2,730,900 shares of the oilfield services company’s stock worth $92,250,000 after purchasing an additional 2,720,000 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Halliburton by 2.7% during the first quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock worth $3,952,805,000 after purchasing an additional 2,618,740 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Halliburton by 20.0% in the second quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock valued at $340,752,000 after purchasing an additional 1,681,620 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Halliburton by 116.9% in the first 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 during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on HAL. Royal Bank of Canada lowered Halliburton from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $44.00 to $37.00 in a research note on Friday, September 13th. Susquehanna decreased their target price on shares of Halliburton from $49.00 to $46.00 and set a “positive” rating on the stock in a research report on Monday, July 22nd. The Goldman Sachs Group dropped their price target on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Jefferies Financial Group cut their price target on shares of Halliburton from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. Finally, Bank of America lowered their price objective on shares of Halliburton from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Insider Buying and Selling

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the company’s stock in a transaction dated 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 directly owns 273,908 shares of the company’s stock, valued at approximately $10,066,119. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.61% of the stock is currently owned by insiders.

Halliburton Price Performance

Shares of NYSE HAL opened at $29.10 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 1.54. Halliburton has a 1-year low of $27.52 and a 1-year high of $43.85. The company has a market capitalization of $25.76 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 0.95 and a beta of 1.89. The business has a 50-day moving average of $31.66 and a 200-day moving average of $34.92.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.95 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. Halliburton’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 EPS. On average, equities analysts anticipate that Halliburton will post 3.14 EPS for the current fiscal year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is 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.