Corient Private Wealth LLC Increases Position in Halliburton Company $HAL

Corient Private Wealth LLC boosted its stake in Halliburton Company (NYSE:HAL) by 13.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 142,423 shares of the oilfield services company’s stock after acquiring an additional 16,380 shares during the period. Corient Private Wealth LLC’s holdings in Halliburton were worth $4,026,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HAL. Nvest Wealth Strategies Inc. acquired a new stake in shares of Halliburton in the 4th quarter valued at approximately $25,000. Kelleher Financial Advisors acquired a new stake in shares of Halliburton during the 3rd quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Halliburton during the 2nd quarter worth approximately $25,000. Zions Bancorporation National Association UT grew its holdings in shares of Halliburton by 196.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock worth $28,000 after acquiring an additional 650 shares during the period. Finally, Strive Asset Management LLC purchased a new position in Halliburton in the 3rd quarter valued at approximately $31,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on HAL shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Halliburton in a research report on Friday, April 10th. Jefferies Financial Group restated a “buy” rating and issued a $47.00 price target on shares of Halliburton in a research report on Sunday, April 26th. Zephirin Group boosted their price objective 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. JPMorgan Chase & Co. increased their price objective on shares of Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Finally, TD Cowen lifted their target price on shares of Halliburton from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.27.

Halliburton Stock Performance

Shares of HAL stock opened at $34.09 on Friday. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.65. The company has a market cap of $28.47 billion, a PE ratio of 18.73, a P/E/G ratio of 1.50 and a beta of 0.69. The company’s fifty day simple moving average is $39.34 and its 200-day simple moving average is $35.64. Halliburton Company has a 52 week low of $20.09 and a 52 week high of $43.59.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, topping 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 prior year, the company earned $0.60 EPS. The firm’s revenue was down .3% on a year-over-year basis. As a group, equities research analysts anticipate that Halliburton Company will post 2.34 EPS for the current year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.68 annualized dividend and a yield of 2.0%. Halliburton’s payout ratio is 37.36%.

Insider Transactions at Halliburton

In other news, Director Tobi M. Young sold 6,125 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $41.72, for a total transaction of $255,535.00. Following the transaction, the director directly owned 15,250 shares of the company’s stock, valued at approximately $636,230. The trade was a 28.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Timothy Mckeon sold 8,655 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $42.00, for a total value of $363,510.00. Following the completion of the transaction, the vice president owned 72,976 shares in the company, valued at approximately $3,064,992. This trade represents a 10.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 258,255 shares of company stock worth $10,550,535 over the last 90 days. 0.57% of the stock is owned by corporate insiders.

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.