Great Lakes Advisors LLC Invests $1.17 Million in Halliburton Company $HAL

Key Points

• Great Lakes Advisors acquired 34,390 Halliburton shares during the second quarter, valued at approximately $1.17 million. Institutional investors and hedge funds collectively own 85.23% of the company.
• Halliburton’s latest quarterly results modestly exceeded expectations, with EPS of $0.55 versus $0.54 expected and revenue of $5.71 billion, up 3.7% year over year.
• Analyst sentiment remains broadly positive, with an overall “Moderate Buy” rating and an average price target of $43.10, although several firms recently lowered targets. Two executives sold shares under pre-arranged Rule 10b5-1 plans.

Great Lakes Advisors LLC acquired a new stake in shares of Halliburton Company (NYSE:HAL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 34,390 shares of the oilfield services company's stock, valued at approximately $1,168,000.

Several other institutional investors and hedge funds have also modified their holdings of HAL. Capital Research Global Investors raised its holdings in shares of Halliburton by 21.1% during the fourth quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company's stock worth $3,114,848,000 after acquiring an additional 19,190,520 shares during the period. BlackRock Inc. bought a new position in Halliburton during the 2nd quarter worth about $2,812,327,000. State Street Corp increased its holdings in Halliburton by 1.7% during the 4th quarter. State Street Corp now owns 50,825,761 shares of the oilfield services company's stock worth $1,436,336,000 after purchasing an additional 861,964 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Halliburton by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,097,164 shares of the oilfield services company's stock valued at $878,806,000 after purchasing an additional 443,064 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Halliburton by 82,596.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company's stock valued at $841,339,000 after purchasing an additional 29,735,387 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Halliburton

In other Halliburton news, COO Jeffrey Shannon Slocum sold 52,572 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total value of $1,844,751.48. Following the transaction, the chief operating officer directly owned 118,730 shares in the company, valued at $4,166,235.70. The trade was a 30.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.89, for a total transaction of $889,282.42. Following the completion of the transaction, the chief financial officer directly 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 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 insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on HAL. Argus dropped their target price on Halliburton from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Wall Street Zen raised Halliburton from a "hold" rating to a "buy" rating in a research report on Sunday. BMO Capital Markets set a $37.00 price target on shares of Halliburton in a research note on Wednesday, July 22nd. Freedom Capital upgraded shares of Halliburton from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Halliburton in a research report on Wednesday, July 8th. Eighteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $43.10.

Halliburton News Summary

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton Labs added Electroflow, Osmoses and SiTration to its portfolio. The companies focus on battery materials, gas separation and critical-metal recovery, giving Halliburton exposure to emerging energy technologies and potentially supporting longer-term diversification beyond traditional oilfield services. Halliburton Labs Announces Three New Portfolio Companies
• Positive Sentiment: Halliburton’s latest quarterly results showed modest operational strength: earnings per share exceeded estimates, revenue reached $5.71 billion versus a $5.50 billion consensus, and sales increased 3.7% year over year. Analysts remain broadly constructive, with a consensus “Moderate Buy” rating and an average price target of $43.10, well above recent trading levels. Q2 Rundown: Halliburton Vs Other Oilfield Services Stocks
• Neutral Sentiment: Recent options-market activity has drawn attention to the possibility of a larger move in HAL, but the available report does not establish whether traders are positioned for a rise or decline. The activity mainly signals increased volatility expectations. Are Options Traders Betting on a Big Move in Halliburton Stock?
• Negative Sentiment: COO Jeffrey Shannon Slocum sold 52,572 shares worth approximately $1.84 million, reducing his direct ownership by 30.69%. The transaction was made under a pre-arranged Rule 10b5-1 plan, which makes it a weaker bearish signal, but the size of the sale may still weigh on sentiment.
• Negative Sentiment: Although Halliburton beat quarterly estimates, EPS was unchanged from the year-earlier period, and analysts have recently lowered several price targets. That combination suggests expectations for near-term oilfield-services growth remain restrained despite the company’s longer-term opportunities.

Halliburton Stock Performance

HAL opened at $35.38 on Friday. Halliburton Company has a 12-month low of $21.40 and a 12-month high of $43.59. The stock has a market cap of $29.48 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 2.21 and a beta of 0.73. The business has a 50 day moving average of $33.95 and a 200-day moving average of $36.50. 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 (NYSE:HAL - Get Free Report) last posted its earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.01. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same period in the previous year, the firm earned $0.55 EPS. The firm's revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts expect that Halliburton Company will post 2.34 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source