B & T Capital Management DBA Alpha Capital Management Purchases New Shares in Halliburton Company $HAL

Key Points

• B & T Capital Management acquired 65,440 Halliburton shares in the second quarter, worth approximately $2.22 million. Institutional investors collectively own 85.23% of the company, with BlackRock also initiating a major $2.81 billion position.
• Analysts maintain a generally positive outlook, with 18 Buy ratings, six Holds and one Sell. Halliburton has a “Moderate Buy” consensus rating and an average price target of $43.10.
• Halliburton exceeded quarterly expectations, reporting $0.55 in EPS and $5.71 billion in revenue, while revenue rose 3.7% year over year. The company also maintains a quarterly dividend of $0.17, equivalent to a 2.0% annual yield.

B & T Capital Management DBA Alpha Capital Management acquired a new stake in shares of Halliburton Company (NYSE:HAL - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 65,440 shares of the oilfield services company's stock, valued at approximately $2,222,000.

Several other institutional investors have also made changes to their positions in HAL. BlackRock Inc. purchased a new position in shares of Halliburton during the second quarter valued at $2,812,327,000. Pallas Capital Advisors LLC purchased a new stake in Halliburton in the 2nd quarter worth about $1,049,000. Deutsche Bank AG acquired a new stake in Halliburton during the 2nd quarter worth about $103,514,000. Perigon Wealth Management LLC purchased a new position in Halliburton during the 2nd quarter valued at about $500,000. Finally, Trust Co. of Vermont purchased a new position in Halliburton during the 2nd quarter valued at about $35,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Argus decreased their target price on shares of Halliburton from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, July 23rd. Zephirin Group upped their price target on shares of Halliburton from $30.00 to $31.00 and gave the stock a "sell" rating in a research note on Wednesday, April 22nd. Stifel Nicolaus reissued a "buy" rating and set a $43.00 price objective (up from $36.00) on shares of Halliburton in a research report on Wednesday, April 22nd. TD Cowen dropped their target price on Halliburton from $48.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Finally, Susquehanna cut their price target on Halliburton from $45.00 to $42.00 and set a "positive" rating for the company in a research note on Wednesday, July 8th. Eighteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $43.10.

Halliburton Trading Up 1.1%

Shares of Halliburton stock opened at $34.81 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64. The company has a market cap of $29.00 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.15 and a beta of 0.73. The company's fifty day simple moving average is $34.31 and its 200-day simple moving average is $36.48. Halliburton Company has a 1 year low of $20.78 and a 1 year high of $43.59.

Halliburton (NYSE:HAL - Get Free Report) last issued its quarterly 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 firm had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The company's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 earnings per share. As a group, sell-side analysts expect that Halliburton Company will post 2.34 EPS for the current year.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, June 3rd. Halliburton's dividend payout ratio is 35.60%.

Insider Buying and Selling

In other Halliburton news, CFO Eric Carre sold 24,778 shares of the company's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total value of $889,282.42. Following the sale, the chief financial officer directly owned 148,520 shares in the company, valued at $5,330,382.80. This represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is currently 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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