Halliburton Company $HAL Stock Acquired by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management increased its Halliburton stake by 18.1% in the second quarter, acquiring 147,329 additional shares and bringing its holdings to 961,660 shares valued at approximately $32.6 million.
• Institutional investors own 85.23% of Halliburton, with major firms including Capital Research Global Investors, BlackRock and State Street among the company’s largest holders.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $43.24. Halliburton recently exceeded quarterly earnings and revenue estimates, while paying a quarterly dividend of $0.17 per share.

Envestnet Asset Management Inc. increased its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 18.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 961,660 shares of the oilfield services company's stock after buying an additional 147,329 shares during the quarter. Envestnet Asset Management Inc. owned about 0.12% of Halliburton worth $32,648,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital Research Global Investors increased its position in 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 purchasing an additional 19,190,520 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Halliburton during the 2nd quarter worth $2,812,327,000. State Street Corp increased its holdings in shares of Halliburton by 4.5% during the 2nd quarter. State Street Corp now owns 56,870,444 shares of the oilfield services company's stock worth $1,930,752,000 after buying an additional 2,463,137 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Halliburton in the 2nd quarter worth $345,941,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Halliburton in the 2nd quarter worth $337,486,000. Hedge funds and other institutional investors own 85.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Barclays lowered their price target on Halliburton from $55.00 to $53.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. Piper Sandler upgraded Halliburton from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $40.00 to $43.00 in a report on Tuesday, July 14th. Evercore reaffirmed an "outperform" rating and issued a $43.00 price objective on shares of Halliburton in a research note on Wednesday, July 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Halliburton in a report on Wednesday, July 8th. Finally, Citigroup increased their target price on shares of Halliburton from $47.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, June 3rd. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $43.24.

Insider Buying and Selling at Halliburton

In other news, COO Jeffrey Slocum sold 52,572 shares of the business's stock in a transaction dated 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 completion of the sale, the chief operating officer owned 118,730 shares of the company's stock, valued at approximately $4,166,235.70. The trade was a 30.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.57% of the company's stock.

Halliburton Price Performance

Shares of HAL stock opened at $32.42 on Tuesday. The firm has a fifty day simple moving average of $34.16 and a 200-day simple moving average of $36.60. The company has a market capitalization of $27.01 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.89 and a beta of 0.76. Halliburton Company has a twelve month low of $21.46 and a twelve month high of $43.59. 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 (NYSE:HAL - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. Equities research analysts anticipate that Halliburton Company will post 2.34 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, September 2nd. Halliburton's dividend payout ratio (DPR) is currently 35.60%.

Halliburton Profile

Halliburton Company NYSE: HAL is a global provider of products and services for the energy industry. The company supports oil and natural gas exploration, development and production across the life cycle of a well, serving both independent and national oil companies.

Halliburton operates through two principal business segments: Completion and Production, which provides cementing, stimulation, intervention and completion services; and Drilling and Evaluation, which offers drilling services, formation evaluation, well construction, project management and related technologies.

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