Quarry LP Takes Position in Halliburton (NYSE:HAL)

Quarry LP acquired a new position in Halliburton (NYSE:HAL) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,436 shares of the oilfield services company’s stock, valued at approximately $184,000.

Several other institutional investors have also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its holdings in Halliburton by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 41,739 shares of the oilfield services company’s stock valued at $1,410,000 after buying an additional 5,860 shares in the last quarter. NewEdge Advisors LLC grew its stake in Halliburton by 21.9% during the second quarter. NewEdge Advisors LLC now owns 73,725 shares of the oilfield services company’s stock valued at $2,490,000 after acquiring an additional 13,241 shares in the last quarter. Nemes Rush Group LLC increased its holdings in Halliburton by 5.0% in the 2nd quarter. Nemes Rush Group LLC now owns 138,556 shares of the oilfield services company’s stock valued at $4,680,000 after acquiring an additional 6,560 shares during the last quarter. Creative Planning lifted its stake in Halliburton by 5.8% in the 2nd quarter. Creative Planning now owns 155,159 shares of the oilfield services company’s stock worth $5,241,000 after purchasing an additional 8,507 shares in the last quarter. Finally, Magnolia Capital Advisors LLC bought a new position in shares of Halliburton during the 2nd quarter valued at about $697,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on HAL shares. Dbs Bank started coverage on Halliburton in a research note on Wednesday, September 18th. They set a “buy” rating and a $45.00 price target for the company. Johnson Rice upgraded shares of Halliburton to a “moderate buy” rating in a research report on Friday, July 19th. Citigroup lowered their price objective on shares of Halliburton from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, June 28th. StockNews.com downgraded shares of Halliburton from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. Finally, Wells Fargo & Company lowered their price target on shares of Halliburton from $46.00 to $39.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Halliburton currently has an average rating of “Moderate Buy” and a consensus price target of $42.56.

Insider Activity

In related news, EVP Van H. Beckwith sold 10,000 shares of the business’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 transaction of $367,500.00. Following the completion of the transaction, the executive vice president now owns 273,908 shares in the company, valued at approximately $10,066,119. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.

Halliburton Stock Up 1.4 %

Shares of NYSE HAL opened at $29.05 on Tuesday. Halliburton has a 52-week low of $27.52 and a 52-week high of $43.85. The firm has a market capitalization of $25.72 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 1.02 and a beta of 1.89. The stock has a 50 day moving average price of $30.73 and a 200 day moving average price of $34.51. 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 posted its quarterly 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. The business had revenue of $5.83 billion for the quarter, compared to the consensus estimate of $5.95 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The business’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 EPS. Sell-side analysts expect that Halliburton will post 3.14 earnings per share for the current year.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a 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.