Global Retirement Partners LLC Acquires Shares of 43,547 Halliburton Company $HAL

Key Points

• Global Retirement Partners acquired 43,547 Halliburton shares worth approximately $1.48 million in the second quarter. Institutional investors collectively own 85.23% of HAL.
• Halliburton reported quarterly revenue of $5.71 billion and adjusted earnings of $0.55 per share, narrowly exceeding analyst expectations; revenue increased 3.7% year over year.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $43.10, compared with the stock’s recent price near $34.81.

Global Retirement Partners LLC bought a new position in Halliburton Company (NYSE:HAL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 43,547 shares of the oilfield services company's stock, valued at approximately $1,478,000.

A number of other large investors have also recently made changes to their positions in HAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Halliburton by 7.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company's stock valued at $2,353,000 after buying an additional 6,507 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Halliburton by 39.0% during the 1st 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 boosted its holdings in Halliburton by 25.0% during the 1st 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 during the period. Intech Investment Management LLC boosted its holdings in Halliburton by 309.1% during the 1st 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 during the period. Finally, Acadian Asset Management LLC bought a new position in Halliburton in the 1st quarter valued at $895,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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 of the company's stock, valued at $5,330,382.80. This trade represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is currently owned by insiders.

Halliburton Trading Up 1.1%

NYSE:HAL opened at $34.81 on Tuesday. The firm has a 50-day simple moving average of $34.31 and a 200-day simple moving average of $36.48. Halliburton Company has a one year low of $20.78 and a one year high of $43.59. The firm has a market cap of $29.00 billion, a P/E ratio of 18.23, a P/E/G ratio of 2.15 and a beta of 0.73. 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 (NYSE:HAL - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.01. The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.50 billion. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The company's quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $0.55 earnings per share. Equities analysts anticipate 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. Investors of record on Wednesday, June 3rd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, June 3rd. Halliburton's dividend payout ratio is 35.60%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HAL. Griffin Securities raised shares of Halliburton from a "neutral" rating to a "buy" rating and set a $47.00 target price for the company in a research note on Wednesday, April 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Halliburton in a report on Wednesday, July 8th. Rothschild & Co Redburn upped their target price on shares of Halliburton from $40.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Capital One Financial raised their target price on shares of Halliburton from $41.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 20th. Finally, Wolfe Research started coverage on shares of Halliburton in a research note on Wednesday, July 8th. They set a "peer perform" rating for the company. Eighteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.10.

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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