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

Parallel Advisors LLC lifted its holdings in Halliburton (NYSE:HAL) by 13.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,300 shares of the oilfield services company’s stock after buying an additional 1,102 shares during the quarter. Parallel Advisors LLC’s holdings in Halliburton were worth $314,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its position in shares of Halliburton by 19.1% during the fourth quarter. Franklin Resources Inc. now owns 1,179,579 shares of the oilfield services company’s stock worth $42,642,000 after purchasing an additional 189,324 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Halliburton by 319.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 36,956 shares of the oilfield services company’s stock valued at $1,385,000 after buying an additional 28,137 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of Halliburton in the 1st quarter valued at $1,908,000. GAMMA Investing LLC raised its position in shares of Halliburton by 10.9% during the first quarter. GAMMA Investing LLC now owns 8,350 shares of the oilfield services company’s stock worth $329,000 after acquiring an additional 819 shares during the last quarter. Finally, Stephens Inc. AR lifted its stake in shares of Halliburton by 622.1% during the fourth quarter. Stephens Inc. AR now owns 66,741 shares of the oilfield services company’s stock valued at $2,413,000 after acquiring an additional 57,499 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on HAL. Morgan Stanley lowered their price objective on Halliburton from $45.00 to $35.00 and set an “overweight” rating for the company in a research report on Monday. UBS Group dropped their price target on shares of Halliburton from $41.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday. Johnson Rice raised shares of Halliburton to a “moderate buy” rating in a research note on Friday, July 19th. Dbs Bank started coverage on shares of Halliburton in a research report on Wednesday. They set a “buy” rating and a $45.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their price target on Halliburton from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Halliburton has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

Halliburton Stock Down 0.7 %

Halliburton stock opened at $29.10 on Thursday. The company has a 50 day moving average of $31.66 and a 200-day moving average of $34.92. 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 has a twelve month low of $27.52 and a twelve month high of $43.85. The stock has a market capitalization of $25.76 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 0.95 and a beta of 1.89.

Halliburton (NYSE:HAL) last announced its 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 analyst estimates of $5.95 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.77 EPS. On average, equities research analysts anticipate that Halliburton will post 3.14 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company 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 $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.34%. The ex-dividend date is Wednesday, September 4th. Halliburton’s payout ratio is 23.53%.

Insiders Place Their Bets

In other news, EVP Van H. Beckwith sold 10,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now 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 accessible through the SEC website. Insiders own 0.61% of the company’s stock.

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.