250,876 Shares in Halliburton Company $HAL Bought by Gunderson Capital Management LLC

Key Points

• Gunderson Capital Management initiated a new position in Halliburton, buying 250,876 shares worth about $9.78 million. The stake represents roughly 4.1% of its portfolio and is its fourth-largest holding.
• Halliburton reported better-than-expected quarterly results, posting earnings of $0.55 per share versus the $0.50 estimate, with revenue of $5.40 billion. The company also declared a quarterly dividend of $0.17 per share, yielding about 2.0%.
• Analyst sentiment remains positive, with multiple firms raising price targets and Halliburton carrying a consensus rating of Moderate Buy. The average price target stands at $43.27, above the recent share price of $34.09.

Gunderson Capital Management LLC bought a new stake in shares of Halliburton Company (NYSE:HAL - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 250,876 shares of the oilfield services company's stock, valued at approximately $9,782,000. Halliburton comprises approximately 4.1% of Gunderson Capital Management LLC's investment portfolio, making the stock its 4th biggest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Nvest Wealth Strategies Inc. bought a new position in shares of Halliburton during the 4th quarter worth about $25,000. Kelleher Financial Advisors bought a new stake in shares of Halliburton in the third quarter valued at about $25,000. Newbridge Financial Services Group Inc. acquired a new stake in Halliburton during the second quarter worth about $25,000. Zions Bancorporation National Association UT grew its position in Halliburton by 196.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company's stock worth $28,000 after buying an additional 650 shares in the last quarter. Finally, Strive Asset Management LLC bought a new position in Halliburton during the third quarter valued at about $31,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Stock Down 1.7%

Shares of NYSE:HAL opened at $34.09 on Friday. Halliburton Company has a 52 week low of $20.09 and a 52 week high of $43.59. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08. The company's fifty day moving average is $39.34 and its 200-day moving average is $35.64. The company has a market capitalization of $28.47 billion, a PE ratio of 18.73, a P/E/G ratio of 1.48 and a beta of 0.69.

Halliburton (NYSE:HAL - Get Free Report) last announced its earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) 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 business had revenue of $5.40 billion during the quarter, compared to analysts' expectations of $5.37 billion. During the same quarter last year, the company posted $0.60 EPS. The firm's revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts predict that Halliburton Company will post 2.34 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd were issued 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 dividend yield of 2.0%. Halliburton's dividend payout ratio (DPR) is presently 37.36%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Capital One Financial upped their price target on Halliburton from $41.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, May 20th. Royal Bank Of Canada boosted their price objective on Halliburton from $43.00 to $44.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Morgan Stanley raised their target price on Halliburton from $40.00 to $42.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 22nd. HSBC boosted their price target on shares of Halliburton from $40.00 to $46.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Finally, Barclays raised shares of Halliburton from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $37.00 to $55.00 in a report on Thursday, May 7th. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Halliburton presently has a consensus rating of "Moderate Buy" and an average price target of $43.27.

Insider Activity at Halliburton

In other news, VP Timothy Mckeon sold 8,655 shares of Halliburton stock in a transaction that occurred on Thursday, April 30th. The shares were 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. The trade was a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Casey Maxwell sold 20,348 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $41.89, for a total value of $852,377.72. Following the completion of the transaction, the insider directly owned 93,763 shares in the company, valued at $3,927,732.07. The trade was a 17.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 258,255 shares of company stock valued at $10,550,535. Insiders own 0.57% of the company's stock.

Halliburton Company 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.

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