Cerity Partners LLC Grows Stock Position in Halliburton Company $HAL

Cerity Partners LLC raised its position in Halliburton Company (NYSE:HAL) by 33.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 572,523 shares of the oilfield services company’s stock after acquiring an additional 142,117 shares during the quarter. Cerity Partners LLC owned 0.07% of Halliburton worth $11,668,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. lifted its holdings in Halliburton by 860.0% in the 2nd quarter. Federated Hermes Inc. now owns 101,563 shares of the oilfield services company’s stock worth $2,070,000 after buying an additional 90,984 shares in the last quarter. Cresset Asset Management LLC purchased a new stake in shares of Halliburton during the second quarter worth about $220,000. Brown Advisory Inc. lifted its stake in shares of Halliburton by 17.0% in the second quarter. Brown Advisory Inc. now owns 27,735 shares of the oilfield services company’s stock worth $565,000 after acquiring an additional 4,023 shares in the last quarter. Marshall Wace LLP boosted its holdings in Halliburton by 66.1% in the second quarter. Marshall Wace LLP now owns 1,756,478 shares of the oilfield services company’s stock valued at $35,797,000 after purchasing an additional 699,198 shares during the last quarter. Finally, QSV Equity Investors LLC grew its stake in Halliburton by 16.6% during the 2nd quarter. QSV Equity Investors LLC now owns 11,942 shares of the oilfield services company’s stock valued at $243,000 after purchasing an additional 1,696 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Halliburton Stock Performance

Shares of HAL stock opened at $29.00 on Thursday. The company has a market cap of $24.41 billion, a P/E ratio of 19.21 and a beta of 0.81. The business has a 50 day moving average of $25.95 and a two-hundred day moving average of $23.28. Halliburton Company has a 52 week low of $18.72 and a 52 week high of $30.40. The company has a quick ratio of 1.43, a current ratio of 1.95 and a debt-to-equity ratio of 0.70.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, October 21st. The oilfield services company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.08. Halliburton had a return on equity of 20.12% and a net margin of 5.91%.The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the business posted $0.73 EPS. The business’s revenue was down 1.7% on a year-over-year basis. As a group, analysts anticipate that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, December 3rd. Halliburton’s dividend payout ratio (DPR) is presently 45.03%.

Wall Street Analysts Forecast Growth

HAL has been the subject of several recent analyst reports. Royal Bank Of Canada raised shares of Halliburton from a “hold” rating to a “moderate buy” rating in a report on Wednesday, October 22nd. Redburn Partners set a $35.00 price target on Halliburton in a research note on Monday, November 3rd. UBS Group boosted their price objective on Halliburton from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. BMO Capital Markets increased their target price on Halliburton from $28.00 to $31.00 in a report on Tuesday, November 11th. Finally, Piper Sandler lifted their target price on Halliburton from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Halliburton currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.55.

Insider Buying and Selling at Halliburton

In other news, insider Mark Richard sold 160,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $27.77, for a total transaction of $4,443,200.00. Following the completion of the transaction, the insider owned 452,374 shares in the company, valued at approximately $12,562,425.98. This represents a 26.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Van H. Beckwith sold 8,854 shares of Halliburton stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $27.89, for a total transaction of $246,938.06. Following the completion of the sale, the executive vice president owned 333,528 shares in the company, valued at approximately $9,302,095.92. This represents a 2.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.56% of the company’s stock.

About Halliburton

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.