Nwam LLC Sells 47,655 Shares of Halliburton Company $HAL

Key Points

• Nwam LLC reduced its Halliburton stake by 36.2%, selling 47,655 shares during the second quarter and retaining 83,842 shares valued at approximately $2.85 million.
• Halliburton insiders also reported sales under pre-arranged Rule 10b5-1 plans, while institutional investors collectively own 85.23% of the company.
• Despite some analyst caution and cyclical macro risks, Halliburton reported better-than-expected quarterly earnings, maintains a $0.17 quarterly dividend, and could benefit from higher oil prices and potential Venezuela oil-services opportunities.

Nwam LLC cut its holdings in Halliburton Company (NYSE:HAL - Free Report) by 36.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,842 shares of the oilfield services company's stock after selling 47,655 shares during the quarter. Nwam LLC's holdings in Halliburton were worth $2,846,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Halliburton by 10.2% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,794 shares of the oilfield services company's stock valued at $109,000 after purchasing an additional 258 shares during the last quarter. Vermillion Wealth Management Inc. increased its position in Halliburton by 24.8% during the 4th quarter. Vermillion Wealth Management Inc. now owns 1,456 shares of the oilfield services company's stock worth $41,000 after purchasing an additional 289 shares in the last quarter. Greenleaf Trust lifted its stake in Halliburton by 2.0% in the 2nd quarter. Greenleaf Trust now owns 17,348 shares of the oilfield services company's stock valued at $589,000 after purchasing an additional 342 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in Halliburton by 1.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 23,312 shares of the oilfield services company's stock valued at $659,000 after purchasing an additional 349 shares during the last quarter. Finally, Harbour Investments Inc. boosted its position in Halliburton by 7.3% in the fourth quarter. Harbour Investments Inc. now owns 5,320 shares of the oilfield services company's stock valued at $150,000 after buying an additional 361 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company's stock.

Trending Headlines about Halliburton

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Potential Venezuela expansion: Halliburton is reportedly nearing a billion-dollar oil-services opportunity tied to a U.S.-backed effort to rebuild Venezuela’s production infrastructure. The company could benefit from drilling, well-cementing, reservoir evaluation and other services as Chevron and other producers invest in restoring aging fields. Chevron and Halliburton Near Billion-Dollar Venezuela Oil Deals
• Positive Sentiment: Historic U.S.-Venezuela oil agreement: Reports that Washington and Caracas have reached an oil deal are reinforcing expectations for long-term capital spending in Venezuela. As a major oilfield-services provider, HAL may act as a “picks-and-shovels” beneficiary if international producers receive access to reserves and begin upgrading infrastructure. Energy ETFs to Watch as US-Venezuela Sign Historic Oil Deal
• Positive Sentiment: Higher oil prices and geopolitical risk: Energy stocks moved higher as Middle East tensions and reported U.S. strikes supported crude prices. Sustained oil prices could encourage customers to increase exploration and production budgets, improving demand for Halliburton’s services. Chevron, Exxon and Other Oil Stocks Jump as Two Huge Energy Stories Collide
• Positive Sentiment: New-energy diversification: Halliburton has been selected for work on the Cornwall lithium project, highlighting an opportunity to apply its subsurface and well-construction expertise outside traditional oil and gas. The project is strategically interesting, though its near-term earnings impact is uncertain. Cornwall lithium project brings in American oil service titan Halliburton
• Neutral Sentiment: Analyst caution: Wall Street Zen downgraded HAL to “Hold,” suggesting valuation and cyclical oilfield-services risks may already be reflected in the stock. The downgrade was offset by the firm oil-market backdrop, leaving shares broadly steady in the referenced coverage. Halliburton Cut to Hold at Wall Street Zen
• Negative Sentiment: Macro risks: Rising oil prices tied to Middle East conflict could also increase inflation and interest-rate concerns, potentially pressuring broad equity valuations and slowing customer spending if the economic outlook deteriorates. Tesla, PG&E, Nvidia, SLB, Pinterest, and More Stocks That Explain Today’s Market

Insiders Place Their Bets

In related news, CFO Eric Carre sold 24,778 shares of Halliburton stock in a transaction on 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 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 filing 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. Also, COO Jeffrey Shannon Slocum sold 52,572 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total value of $1,844,751.48. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.57% of the company's stock.

Halliburton Price Performance

Shares of HAL opened at $36.85 on Wednesday. The company has a market capitalization of $30.70 billion, a PE ratio of 19.29, a PEG ratio of 2.31 and a beta of 0.76. Halliburton Company has a 12 month low of $21.40 and a 12 month high of $43.59. The stock's 50-day moving average price is $33.88 and its two-hundred day moving average price is $36.58. 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 issued its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. The company had revenue of $5.71 billion during the quarter, compared to analysts' expectations of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The business's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. On average, analysts anticipate that Halliburton Company will post 2.34 EPS for the current year.

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, September 2nd. Halliburton's dividend payout ratio is currently 35.60%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HAL. Piper Sandler upgraded Halliburton from a "neutral" rating to an "overweight" rating and increased their price target for the company from $40.00 to $43.00 in a research note on Tuesday, July 14th. Capital One Financial boosted their price objective on Halliburton from $41.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 20th. Citigroup upped their target price on Halliburton from $47.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, June 3rd. Wall Street Zen downgraded Halliburton from a "buy" rating to a "hold" rating in a research report on Monday. Finally, TD Cowen cut their price target on Halliburton from $48.00 to $47.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Eighteen investment 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.com, the stock has an average rating of "Moderate Buy" and an average target price of $43.10.

Halliburton 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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