Harvest Investment Advisors LLC Takes $1.88 Million Position in Halliburton Company $HAL

Key Points

• Harvest Investment Advisors opened a new position in Halliburton during the fourth quarter, buying 66,570 shares worth about $1.88 million.
• Halliburton reported better-than-expected quarterly earnings, posting EPS of $0.55 versus the $0.50 estimate, while revenue of $5.40 billion also slightly topped expectations.
• The stock has been under pressure recently, falling 2.5% in the session described, even as analysts remain broadly bullish with a consensus Moderate Buy rating and average price target of $43.27.

Harvest Investment Advisors LLC purchased a new stake in Halliburton Company (NYSE:HAL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 66,570 shares of the oilfield services company's stock, valued at approximately $1,881,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Captrust Financial Advisors boosted its stake in Halliburton by 13.7% in the 4th quarter. Captrust Financial Advisors now owns 114,050 shares of the oilfield services company's stock worth $3,223,000 after purchasing an additional 13,785 shares during the period. Graham Capital Management L.P. acquired a new position in Halliburton in the 4th quarter worth $524,000. Magnetar Financial LLC acquired a new position in Halliburton in the 4th quarter worth $1,667,000. Aster Capital Management DIFC Ltd acquired a new position in Halliburton in the 4th quarter worth $47,000. Finally, Rakuten Investment Management Inc. boosted its stake in Halliburton by 22.9% in the 4th quarter. Rakuten Investment Management Inc. now owns 111,181 shares of the oilfield services company's stock worth $3,130,000 after purchasing an additional 20,681 shares during the period. Institutional investors and hedge funds own 85.23% of the company's stock.

Halliburton Stock Down 2.5%

Shares of HAL opened at $37.21 on Wednesday. Halliburton Company has a 12 month low of $20.09 and a 12 month high of $43.59. The firm's 50 day moving average is $39.82 and its 200-day moving average is $35.26. The stock has a market capitalization of $31.08 billion, a PE ratio of 20.44, a P/E/G ratio of 1.65 and a beta of 0.69. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.65.

Halliburton (NYSE:HAL - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.05. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The business had revenue of $5.40 billion for the quarter, compared to analysts' expectations of $5.37 billion. During the same period last year, the firm posted $0.60 earnings per share. The firm's quarterly revenue was down .3% compared to the same quarter last year. Equities research analysts forecast that Halliburton Company will post 2.34 EPS for the current year.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, June 3rd. Halliburton's payout ratio is 37.36%.

Key Halliburton News

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Recent analyst coverage remains constructive, with multiple firms maintaining bullish ratings and a median price target around $42, suggesting Wall Street still sees upside from current levels. Reference article
• Neutral Sentiment: Commentary this week focused on whether HAL still offers value after a strong one-year run, with the stock still up sharply over the past year and year to date despite the recent pullback. Reference article
• Neutral Sentiment: Halliburton was also included in an industry outlook that highlighted oilfield services companies as facing weaker industry conditions and energy-transition challenges, which reinforces a mixed longer-term backdrop. Reference article
• Negative Sentiment: The stock has fallen as oil prices dropped sharply after news of a U.S.-Iran peace deal, which pressured oilfield services names by raising concerns about drilling and completion demand. Reference article
• Negative Sentiment: Broader market coverage also noted HAL declined even as the market gained, reinforcing that investors are rotating out of energy-linked shares amid softer crude sentiment and profit-taking. Reference article

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on HAL shares. Evercore increased their price objective on shares of Halliburton from $42.00 to $46.00 and gave the stock an "outperform" rating in a research note on Thursday, May 28th. Piper Sandler increased their price objective on shares of Halliburton from $34.00 to $40.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 15th. The Goldman Sachs Group upped their target price on shares of Halliburton from $40.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, March 4th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $47.00 target price on shares of Halliburton in a report on Sunday, April 26th. Finally, Capital One Financial upped their target price on shares of Halliburton from $41.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, May 20th. Eighteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.27.

Insider Activity at Halliburton

In related news, Director Tobi M. Young sold 6,125 shares of the business's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $41.72, for a total value of $255,535.00. Following the transaction, the director owned 15,250 shares in the company, valued at $636,230. The trade was a 28.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Casey Maxwell sold 20,348 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $41.89, for a total transaction of $852,377.72. Following the completion of the transaction, the insider owned 93,763 shares in the company, valued at approximately $3,927,732.07. The trade was a 17.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 391,932 shares of company stock valued at $15,999,453 in the last quarter. Insiders own 0.57% of the company's stock.

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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