AlphaGrep UK Ltd Acquires New Shares in Halliburton Company $HAL

Key Points

• AlphaGrep UK Ltd acquired 31,091 Halliburton shares in the second quarter, worth approximately $1.06 million. Institutional investors collectively own 85.23% of Halliburton.
• Halliburton exceeded quarterly expectations, reporting $0.55 EPS and $5.71 billion in revenue; revenue increased 3.7% year over year. The company also declared a $0.17 quarterly dividend, implying a 1.8% yield.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $43.10, versus a recent share price of $37.05.

AlphaGrep UK Ltd acquired a new stake in shares of Halliburton Company (NYSE:HAL - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 31,091 shares of the oilfield services company's stock, valued at approximately $1,056,000.

Several other large investors have also recently added to or reduced their stakes in HAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Halliburton by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company's stock worth $2,353,000 after acquiring an additional 6,507 shares during the last quarter. Woodline Partners LP lifted its position in Halliburton by 39.0% during the first quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company's stock worth $1,861,000 after acquiring an additional 20,583 shares during the last quarter. Focus Partners Wealth grew its stake in shares of Halliburton by 25.0% in the first quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company's stock valued at $1,320,000 after acquiring an additional 10,408 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Halliburton by 309.1% in the first quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company's stock valued at $1,749,000 after acquiring an additional 52,092 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Halliburton during the first quarter worth about $895,000. 85.23% of the stock is owned by institutional investors.

Halliburton Stock Performance

NYSE:HAL opened at $37.05 on Friday. The business's 50-day moving average price is $34.07 and its two-hundred day moving average price is $36.63. The stock has a market cap of $30.87 billion, a P/E ratio of 19.40, a PEG ratio of 2.15 and a beta of 0.76. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64. Halliburton Company has a twelve month low of $21.46 and a twelve month high of $43.59.

Halliburton (NYSE:HAL - Get Free Report) last announced its earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.01. The business had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.50 billion. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. Halliburton's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. As a group, equities analysts predict that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be given a $0.17 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $0.68 annualized dividend and a yield of 1.8%. Halliburton's payout ratio is 35.60%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup boosted their price objective on shares of Halliburton from $47.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, June 3rd. UBS Group lowered their price target on Halliburton from $40.00 to $39.00 and set a "neutral" rating for the company in a report on Monday, July 27th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Halliburton in a research note on Wednesday, July 8th. TD Cowen dropped their price target on Halliburton from $48.00 to $47.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Finally, Piper Sandler upgraded shares of Halliburton from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $40.00 to $43.00 in a report on Tuesday, July 14th. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Halliburton currently has a consensus rating of "Moderate Buy" and an average target price of $43.10.

Insiders Place Their Bets

In other Halliburton news, CFO Eric Carre sold 24,778 shares of the firm's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $35.89, for a total transaction of $889,282.42. Following the sale, the chief financial officer owned 148,520 shares in the company, valued at $5,330,382.80. This trade represents a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jeffrey Slocum sold 52,572 shares of the company's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the sale, the chief operating officer owned 118,730 shares of the company's stock, valued at approximately $4,166,235.70. The trade was a 30.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is owned by corporate insiders.

About Halliburton

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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