Focus Partners Advisor Solutions LLC Takes $1.68 Million Position in Halliburton Company $HAL

Key Points

• Focus Partners Advisor Solutions acquired 49,347 Halliburton shares worth approximately $1.68 million during the second quarter. Institutional investors and hedge funds collectively own 85.23% of the company.
• Halliburton exceeded quarterly expectations, reporting adjusted earnings of $0.55 per share and revenue of $5.71 billion, with revenue rising 3.7% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $43.10, compared with the stock’s reported price of $34.44.

Focus Partners Advisor Solutions LLC bought a new stake in Halliburton Company (NYSE:HAL - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 49,347 shares of the oilfield services company's stock, valued at approximately $1,675,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. acquired a new stake in Halliburton during the second quarter valued at approximately $25,000. Kelleher Financial Advisors acquired a new position in shares of Halliburton in the 3rd quarter worth approximately $25,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Halliburton in the 4th quarter worth approximately $25,000. Zions Bancorporation National Association UT lifted its position in shares of Halliburton by 196.4% during the 4th 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 during the period. Finally, Matrix Trust Co bought a new position in shares of Halliburton during the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 85.23% of the company's stock.

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 shares were sold at an average price of $35.89, for a total value of $889,282.42. Following the completion of the sale, the chief financial officer owned 148,520 shares in the company, valued at approximately $5,330,382.80. This trade represents a 14.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.57% of the company's stock.

Halliburton Trading Up 4.9%

Shares of HAL opened at $34.44 on Friday. The stock has a fifty day moving average price of $34.42 and a two-hundred day moving average price of $36.46. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.50 and a current ratio of 2.02. Halliburton Company has a 52-week low of $20.78 and a 52-week high of $43.59. The company has a market cap of $28.70 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 2.15 and a beta of 0.73.

Halliburton (NYSE:HAL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.01. The company 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 business's revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 earnings per share. Analysts predict that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders 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 yield of 2.0%. Halliburton's dividend payout ratio is currently 35.60%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HAL shares. Morgan Stanley lowered their price target on Halliburton from $41.00 to $40.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 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. Citigroup boosted their target price on shares of Halliburton from $47.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, June 3rd. TD Cowen lowered their target price on shares of Halliburton from $48.00 to $47.00 and set a "buy" rating on the stock in a report on Wednesday, July 22nd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Halliburton in a research report on Wednesday, July 8th. Eighteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $43.10.

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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