Readystate Asset Management LP Has $16.93 Million Stock Holdings in Halliburton Company $HAL

Key Points

• Readystate Asset Management increased its Halliburton position by 165.8% in the second quarter, acquiring 311,149 additional shares and bringing its total holdings to 498,818 shares valued at approximately $16.93 million.
• Halliburton reported quarterly adjusted EPS of $0.55, slightly above estimates, while revenue of $5.71 billion exceeded expectations and rose 3.7% year over year. The company also declared a quarterly dividend of $0.17 per share, representing a 1.8% yield.
• Wall Street maintains a “Moderate Buy” consensus on Halliburton, with an average price target of $43.10 versus a recent share price of $37.05; institutional investors own 85.23% of the stock.

Readystate Asset Management LP grew its position in Halliburton Company (NYSE:HAL - Free Report) by 165.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 498,818 shares of the oilfield services company's stock after purchasing an additional 311,149 shares during the quarter. Readystate Asset Management LP owned approximately 0.06% of Halliburton worth $16,935,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of HAL. Capital Research Global Investors boosted its holdings 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 valued at $3,114,848,000 after acquiring an additional 19,190,520 shares during the period. BlackRock Inc. acquired a new position in shares of Halliburton during the 2nd quarter worth about $2,812,327,000. State Street Corp lifted its position in shares of 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Halliburton by 1.4% during 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. boosted its stake in Halliburton by 82,596.0% during 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 owned by institutional investors.

Halliburton Stock Down 0.1%

NYSE HAL opened at $37.05 on Monday. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64. The stock's 50 day moving average is $34.07 and its two-hundred day moving average is $36.65. The company has a market capitalization of $30.87 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 2.14 and a beta of 0.76. Halliburton Company has a 1-year low of $21.46 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.01. The business 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%.Halliburton's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 EPS. Equities analysts forecast that Halliburton Company will post 2.34 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, September 2nd. Halliburton's dividend payout ratio (DPR) is currently 35.60%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Capital One Financial lifted their price target on Halliburton from $41.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 20th. Barclays decreased their price target on shares of Halliburton from $55.00 to $53.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 22nd. Wolfe Research assumed coverage on shares of Halliburton in a research note on Wednesday, July 8th. They issued a "peer perform" rating for the company. Argus lowered their price target on Halliburton from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, July 23rd. Finally, Citigroup boosted their price target on Halliburton from $47.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, June 3rd. Eighteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Halliburton currently has a consensus rating of "Moderate Buy" and an average price target of $43.10.

Insider Activity

In other Halliburton 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 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 filing 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 firm'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 sale, the chief financial officer directly owned 148,520 shares of the company's stock, valued at approximately $5,330,382.80. The trade was a 14.30% decrease in their position. 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. Company 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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