Alps Advisors Inc. Makes New $505,000 Investment in Halliburton Company $HAL

Alps Advisors Inc. acquired a new stake in Halliburton Company (NYSE:HAL) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 20,510 shares of the oilfield services company’s stock, valued at approximately $505,000.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Halliburton by 1.6% in the second quarter. Vanguard Group Inc. now owns 105,363,599 shares of the oilfield services company’s stock worth $2,147,310,000 after purchasing an additional 1,617,696 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Halliburton by 1.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 30,287,989 shares of the oilfield services company’s stock worth $617,269,000 after purchasing an additional 346,218 shares during the period. Geode Capital Management LLC grew its stake in Halliburton by 0.4% during the second quarter. Geode Capital Management LLC now owns 22,342,963 shares of the oilfield services company’s stock worth $453,461,000 after buying an additional 92,549 shares in the last quarter. Invesco Ltd. increased its holdings in Halliburton by 10.1% in the 2nd quarter. Invesco Ltd. now owns 11,903,833 shares of the oilfield services company’s stock valued at $242,600,000 after buying an additional 1,089,928 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in Halliburton by 23.1% in the 3rd quarter. Pacer Advisors Inc. now owns 10,154,605 shares of the oilfield services company’s stock valued at $249,803,000 after buying an additional 1,906,724 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HAL has been the subject of a number of recent analyst reports. Susquehanna upped their price target on shares of Halliburton from $36.00 to $40.00 and gave the stock a “positive” rating in a report on Thursday, January 22nd. Barclays upped their target price on Halliburton from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 16th. Jefferies Financial Group reiterated a “buy” rating and issued a $39.00 price target on shares of Halliburton in a research note on Friday, February 6th. Morgan Stanley restated an “overweight” rating and set a $35.00 price objective on shares of Halliburton in a research report on Wednesday, January 21st. Finally, Piper Sandler raised their price objective on Halliburton from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.95.

Halliburton Price Performance

Shares of HAL opened at $34.30 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.04 and a debt-to-equity ratio of 0.68. The stock has a market cap of $28.72 billion, a PE ratio of 22.71, a PEG ratio of 2.09 and a beta of 0.77. Halliburton Company has a 12-month low of $18.72 and a 12-month high of $35.55. The business has a 50-day simple moving average of $31.13 and a two-hundred day simple moving average of $26.47.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.14. Halliburton had a return on equity of 19.77% and a net margin of 5.78%.The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the previous year, the business posted $0.73 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Analysts anticipate that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, December 3rd. Halliburton’s payout ratio is presently 45.03%.

Insider Buying and Selling at Halliburton

In related news, CEO Jeffrey Allen Miller sold 171,200 shares of the business’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $34.96, for a total value of $5,985,152.00. Following the sale, the chief executive officer owned 1,101,243 shares of the company’s stock, valued at $38,499,455.28. The trade was a 13.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lawrence J. Pope sold 100,000 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $32.25, for a total value of $3,225,000.00. Following the completion of the sale, the executive vice president owned 419,800 shares of the company’s stock, valued at $13,538,550. The trade was a 19.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 337,002 shares of company stock valued at $11,445,938. Insiders own 0.56% of the company’s stock.

Halliburton Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.