Oak Thistle LLC Makes New $878,000 Investment in Halliburton (NYSE:HAL)

Oak Thistle LLC bought a new stake in shares of Halliburton (NYSE:HAL) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 26,000 shares of the oilfield services company’s stock, valued at approximately $878,000. Halliburton comprises 0.7% of Oak Thistle LLC’s investment portfolio, making the stock its 25th largest position.

A number of other hedge funds have also recently made changes to their positions in the stock. LSV Asset Management raised its position in shares of Halliburton by 24,954.1% in 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 last quarter. Varma Mutual Pension Insurance Co lifted its stake in shares of Halliburton by 2.9% in the second quarter. Varma Mutual Pension Insurance Co now owns 441,303 shares of the oilfield services company’s stock worth $14,907,000 after buying an additional 12,503 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Halliburton by 3,757.1% in the second quarter. Acadian Asset Management LLC now owns 37,067 shares of the oilfield services company’s stock worth $1,251,000 after buying an additional 36,106 shares in the last quarter. Gallacher Capital Management LLC purchased a new stake in shares of Halliburton during the second quarter valued at approximately $587,000. Finally, Stonebrook Private Inc. increased its position in shares of Halliburton by 15.3% during the second quarter. Stonebrook Private Inc. now owns 22,071 shares of the oilfield services company’s stock valued at $746,000 after acquiring an additional 2,921 shares in the last quarter. 85.23% of the stock is owned by institutional investors.

Halliburton Trading Down 1.7 %

NYSE:HAL opened at $28.59 on Monday. Halliburton has a one year low of $28.43 and a one year high of $43.85. The business has a fifty day moving average price of $32.44 and a 200-day moving average price of $35.29. The firm has a market capitalization of $25.24 billion, a price-to-earnings ratio of 9.89, a price-to-earnings-growth ratio of 0.97 and a beta of 1.89. 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 (NYSE:HAL) last issued its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The business had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.95 billion. During the same quarter in the prior year, the business posted $0.77 earnings per share. The business’s quarterly revenue was up .6% on a year-over-year basis. Sell-side analysts forecast that Halliburton will post 3.14 EPS for the current 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 dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Wednesday, September 4th. Halliburton’s payout ratio is 23.53%.

Analyst Ratings Changes

HAL has been the topic of several recent analyst reports. 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. The Goldman Sachs Group dropped their price objective on Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Piper Sandler reduced their price objective on Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Benchmark restated a “buy” rating and set a $42.00 target price on shares of Halliburton in a research note on Monday, July 22nd. Finally, Royal Bank of Canada reduced their price target on shares of Halliburton from $45.00 to $44.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Halliburton has an average rating of “Moderate Buy” and an average target price of $44.88.

Insider Buying and Selling at Halliburton

In other news, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 273,908 shares in the company, valued at approximately $10,066,119. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

Halliburton Company 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.