Pallas Capital Advisors LLC Makes New Investment in Halliburton Company $HAL

Key Points

• Pallas Capital Advisors acquired 30,887 Halliburton shares worth approximately $1.05 million in the second quarter. Institutional investors collectively own 85.23% of the company.
• Analysts maintain a generally positive outlook, with 18 Buy, six Hold and one Sell rating. Halliburton has a consensus rating of “Moderate Buy” and an average price target of $43.10.
• Halliburton exceeded quarterly expectations, reporting $0.55 in earnings per share and $5.71 billion in revenue, up 3.7% year over year. The company also pays a quarterly dividend of $0.17, equivalent to a 2.0% annual yield.

Pallas Capital Advisors LLC acquired a new position in shares of Halliburton Company (NYSE:HAL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 30,887 shares of the oilfield services company's stock, valued at approximately $1,049,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Nova Scotia raised its stake in shares of Halliburton by 128.8% during the first quarter. Bank of Nova Scotia now owns 2,284,612 shares of the oilfield services company's stock valued at $89,077,000 after acquiring an additional 1,286,095 shares during the last quarter. ABN Amro Investment Solutions bought a new stake in shares of Halliburton in the fourth quarter worth $827,000. Swiss Life Asset Management Ltd grew its stake in shares of Halliburton by 22.0% in the fourth quarter. Swiss Life Asset Management Ltd now owns 373,949 shares of the oilfield services company's stock worth $10,568,000 after purchasing an additional 67,369 shares during the last quarter. K.J. Harrison & Partners Inc increased its holdings in Halliburton by 172.6% in the fourth quarter. K.J. Harrison & Partners Inc now owns 110,000 shares of the oilfield services company's stock valued at $3,109,000 after purchasing an additional 69,644 shares during the period. Finally, Nwam LLC acquired a new stake in Halliburton in the fourth quarter valued at $3,731,000. Institutional investors and hedge funds own 85.23% of the company's stock.

Analyst Upgrades and Downgrades

HAL has been the topic of several recent research reports. Susquehanna cut their target price on Halliburton from $45.00 to $42.00 and set a "positive" rating on the stock in a report on Wednesday, July 8th. Argus decreased their price target on Halliburton from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, July 23rd. HSBC raised their price objective on Halliburton from $40.00 to $46.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Zephirin Group upped their target price on Halliburton from $30.00 to $31.00 and gave the company a "sell" rating in a report on Wednesday, April 22nd. Finally, Freedom Capital raised shares of Halliburton from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 22nd. Eighteen 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's stock. According to data from MarketBeat.com, Halliburton has a consensus rating of "Moderate Buy" and an average target price of $43.10.

Halliburton Price Performance

HAL stock opened at $34.77 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.50. The company's 50-day moving average is $34.21 and its 200-day moving average is $36.48. The stock has a market capitalization of $28.97 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 2.15 and a beta of 0.73. Halliburton Company has a 1 year low of $20.78 and a 1 year high of $43.59.

Halliburton (NYSE:HAL - Get Free Report) last issued its earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $5.50 billion. During the same period in the previous year, the company posted $0.55 EPS. The firm's revenue was up 3.7% compared to the same quarter last year. Equities research analysts expect that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, June 3rd. Halliburton's dividend payout ratio (DPR) is 35.60%.

Insider Activity at Halliburton

In other news, CFO Eric Carre sold 24,778 shares of the business's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total transaction of $889,282.42. Following the completion of the sale, the chief financial officer 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is currently owned by corporate insiders.

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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