Seven Eight Capital LP Acquires New Holdings in Halliburton (NYSE:HAL)

Seven Eight Capital LP bought a new position in shares of Halliburton (NYSE:HAL) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 28,389 shares of the oilfield services company’s stock, valued at approximately $959,000.

Several other institutional investors also recently modified their holdings of the stock. Rise Advisors LLC acquired a new position in Halliburton in the 1st quarter worth about $26,000. Johnson Financial Group Inc. bought a new stake in shares of Halliburton during the fourth quarter worth about $33,000. Bruce G. Allen Investments LLC increased its stake in shares of Halliburton by 274.9% in the second quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock valued at $38,000 after buying an additional 822 shares during the period. Assetmark Inc. raised its holdings in Halliburton by 286.2% in the 4th quarter. Assetmark Inc. now owns 1,201 shares of the oilfield services company’s stock valued at $43,000 after buying an additional 890 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new stake in Halliburton during the 1st quarter worth approximately $46,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Halliburton

In other news, EVP Van H. Beckwith sold 10,000 shares of the 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 sale, the executive vice president now owns 273,908 shares in the company, valued at $10,066,119. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

Halliburton Stock Down 0.2 %

Shares of NYSE HAL opened at $29.47 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 1.54. The company has a 50-day moving average price of $31.48 and a 200-day moving average price of $34.84. The stock has a market capitalization of $26.09 billion, a P/E ratio of 10.20, a P/E/G ratio of 0.95 and a beta of 1.89. Halliburton has a 1 year low of $27.52 and a 1 year high of $43.85.

Halliburton (NYSE:HAL) last released 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. The business had revenue of $5.83 billion during 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 company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 EPS. On average, equities research analysts forecast that Halliburton will post 3.14 EPS for the current fiscal year.

Halliburton Announces Dividend

The business also recently disclosed 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 2.31%. The ex-dividend date of this dividend is Wednesday, September 4th. Halliburton’s dividend payout ratio (DPR) is presently 23.53%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Benchmark restated a “buy” rating and issued a $42.00 price target on shares of Halliburton in a research report on Monday, July 22nd. Jefferies Financial Group lowered their target price on Halliburton from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Citigroup reduced their price target on Halliburton from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Piper Sandler lowered their price objective on Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, Stifel Nicolaus cut their price objective on Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Three equities 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.17.

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.