AGP Franklin LLC Takes Position in Halliburton Company $HAL

AGP Franklin LLC bought a new position in Halliburton Company (NYSE:HAL) in the 1st quarter, HoldingsChannel reports. The fund bought 30,205 shares of the oilfield services company’s stock, valued at approximately $1,178,000.

A number of other institutional investors and hedge funds have also modified their holdings of HAL. Kaufman Rossin Wealth LLC acquired a new position in Halliburton during the first quarter valued at $248,000. SG Americas Securities LLC lifted its stake in Halliburton by 12.4% in the 1st quarter. SG Americas Securities LLC now owns 837,956 shares of the oilfield services company’s stock worth $32,672,000 after acquiring an additional 92,569 shares in the last quarter. Evolve Private Wealth LLC boosted its position in Halliburton by 8.9% during the 1st quarter. Evolve Private Wealth LLC now owns 23,106 shares of the oilfield services company’s stock worth $901,000 after acquiring an additional 1,881 shares during the period. Fortem Financial Group LLC boosted its position in Halliburton by 35.2% during the 1st quarter. Fortem Financial Group LLC now owns 64,213 shares of the oilfield services company’s stock worth $2,504,000 after acquiring an additional 16,732 shares during the period. Finally, Polianta Ltd purchased a new position in Halliburton during the 1st quarter valued at about $1,715,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Insider Transactions at Halliburton

In other Halliburton news, CFO Eric Carre sold 24,778 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $35.89, for a total value of $889,282.42. Following the completion of the sale, the chief financial officer owned 148,520 shares of the company’s stock, valued at $5,330,382.80. The trade was a 14.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Tobi M. Young sold 6,125 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $41.72, for a total value of $255,535.00. Following the sale, the director owned 15,250 shares of the company’s stock, valued at approximately $636,230. This trade represents a 28.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 416,710 shares of company stock valued at $16,888,735 in the last three months. 0.57% of the stock is currently owned by company insiders.

Halliburton Price Performance

Shares of HAL opened at $35.11 on Tuesday. The firm has a market cap of $29.33 billion, a PE ratio of 19.29, a PEG ratio of 1.51 and a beta of 0.70. The firm’s 50 day moving average price is $39.61 and its 200 day moving average price is $35.51. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08. Halliburton Company has a twelve month low of $20.09 and a twelve month high of $43.59.

Halliburton (NYSE:HAL) last posted its earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The firm had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the previous year, the company earned $0.60 earnings per share. The company’s revenue was down .3% compared to the same quarter last year. As a group, research analysts expect that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, June 3rd. Halliburton’s payout ratio is presently 37.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HAL. Barclays upgraded Halliburton from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $37.00 to $55.00 in a report on Thursday, May 7th. Evercore boosted their price objective on shares of Halliburton from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Stifel Nicolaus reiterated a “buy” rating and issued a $43.00 price objective (up from $36.00) on shares of Halliburton in a research note on Wednesday, April 22nd. Zephirin Group increased their target price on shares of Halliburton from $30.00 to $31.00 and gave the stock a “sell” rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Halliburton in a research note on Friday, April 10th. Eighteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.27.

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.