Cetera Investment Advisers Has $11.85 Million Holdings in Halliburton Company $HAL

Key Points

• Cetera Investment Advisers increased its Halliburton stake by 55.5% in the first quarter, holding 303,860 shares valued at approximately $11.85 million. Institutional investors and hedge funds own 85.23% of HAL.
• Analysts remain broadly bullish, 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 with adjusted earnings of $0.55 per share and revenue of $5.71 billion, while maintaining a quarterly dividend of $0.17 per share, or $0.68 annualized.

Cetera Investment Advisers grew its position in Halliburton Company (NYSE:HAL - Free Report) by 55.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 303,860 shares of the oilfield services company's stock after purchasing an additional 108,419 shares during the quarter. Cetera Investment Advisers' holdings in Halliburton were worth $11,847,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in HAL. Nvest Wealth Strategies Inc. acquired a new position in Halliburton in the 4th quarter valued at $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 position in shares of Halliburton in the second quarter valued at about $25,000. Zions Bancorporation National Association UT grew its stake in shares of Halliburton by 196.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company's stock valued at $28,000 after acquiring an additional 650 shares in the last quarter. Finally, Strive Asset Management LLC bought a new position in Halliburton during the third quarter worth about $31,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Royal Bank Of Canada boosted their price objective on shares of Halliburton from $43.00 to $44.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. boosted their price target on Halliburton from $40.00 to $42.00 and gave the company an "overweight" rating in a research note on Wednesday, April 22nd. HSBC increased their price target on Halliburton from $40.00 to $46.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Piper Sandler raised Halliburton from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $40.00 to $43.00 in a report on Tuesday, July 14th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $47.00 target price on shares of Halliburton in a research report on Sunday, April 26th. 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 company. According to data from MarketBeat.com, Halliburton presently has an average rating of "Moderate Buy" and a consensus target price of $43.10.

Insider Buying and Selling

In other Halliburton news, CFO Eric Carre sold 24,778 shares of Halliburton 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 transaction, the chief financial officer owned 148,520 shares in the company, valued at $5,330,382.80. The trade was a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Van H. Beckwith sold 198,349 shares of the business's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $41.29, for a total value of $8,189,830.21. Following the transaction, the executive vice president directly owned 146,186 shares of the company's stock, valued at approximately $6,036,019.94. The trade was a 57.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 243,475 shares of company stock worth $9,931,490 in the last ninety days. 0.57% of the stock is owned by insiders.

Halliburton Stock Performance

NYSE HAL opened at $31.19 on Thursday. The firm's 50 day simple moving average is $36.27 and its 200 day simple moving average is $36.49. The firm has a market capitalization of $25.98 billion, a price-to-earnings ratio of 16.33, a P/E/G ratio of 1.95 and a beta of 0.71. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64. Halliburton Company has a 1 year low of $20.39 and a 1 year high of $43.59.

Halliburton (NYSE:HAL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the previous year, the business earned $0.55 earnings per share. The company's revenue was up 3.7% on a year-over-year basis. As a group, research analysts expect that Halliburton Company will post 2.35 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.2%. Halliburton's payout ratio is 35.60%.

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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