SummitTX Capital L.P. Raises Stake in Halliburton Company $HAL

SummitTX Capital L.P. increased its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 73.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,188 shares of the oilfield services company's stock after acquiring an additional 96,497 shares during the period. SummitTX Capital L.P.'s holdings in Halliburton were worth $8,858,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Research Global Investors boosted its position in shares of Halliburton by 21.1% in the 4th 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 in the last quarter. State Street Corp increased its position in Halliburton by 1.7% during the 4th quarter. State Street Corp now owns 50,825,761 shares of the oilfield services company's stock valued at $1,436,336,000 after buying an additional 861,964 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Halliburton by 1.4% during the fourth 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 buying an additional 443,064 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Halliburton by 82,596.0% during the fourth 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 buying an additional 29,735,387 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Halliburton by 14.0% in the fourth quarter. Morgan Stanley now owns 15,806,168 shares of the oilfield services company's stock worth $446,682,000 after acquiring an additional 1,943,845 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup lifted their price target on Halliburton from $47.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, June 3rd. UBS Group raised their price objective on shares of Halliburton from $39.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday, July 2nd. Evercore reaffirmed an "outperform" rating and issued a $43.00 target price on shares of Halliburton in a report on Wednesday. Jefferies Financial Group reiterated a "buy" rating and set a $47.00 price target on shares of Halliburton in a report on Sunday, April 26th. Finally, Barclays decreased their price objective on shares of Halliburton from $55.00 to $53.00 and set an "overweight" rating for the company in a report on Wednesday. Eighteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.14.

Halliburton Price Performance

HAL opened at $33.31 on Monday. The company's 50-day simple moving average is $36.94 and its two-hundred day simple moving average is $36.48. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.50 and a current ratio of 2.02. The stock has a market capitalization of $27.83 billion, a P/E ratio of 17.44, a P/E/G ratio of 1.54 and a beta of 0.71. Halliburton Company has a 52-week low of $20.39 and a 52-week high of $43.59.

Halliburton (NYSE:HAL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.01. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The firm 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 business posted $0.55 earnings per share. The business's revenue for the quarter was up 3.7% on a year-over-year basis. As a group, analysts predict that Halliburton Company will post 2.35 EPS for the current year.

Halliburton Dividend Announcement

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

Key Halliburton News

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton reported Q2 revenue of $5.71 billion and EPS of $0.55, both modestly ahead of expectations, reinforcing that core business performance remains solid. Article title
• Positive Sentiment: The company won a new integrated field development contract with Basra Oil Company in Iraq, adding another large international project and expanding its presence in a key oil-producing region. Article title
• Positive Sentiment: Halliburton also secured additional development work in Kuwait, reinforcing the view that recent contract wins are improving its growth outlook and supporting its international business mix. Article title
• Neutral Sentiment: Several commentary pieces pointed to a stronger long-term outlook thanks to Halliburton’s technology edge and global contract pipeline, but also noted that geopolitical risk and uneven execution could limit near-term upside.
• Neutral Sentiment: TD Cowen reportedly lowered expectations for Halliburton, and other firms trimmed price targets, suggesting analysts remain cautious even as the stock benefits from new business wins.
• Negative Sentiment: Analyst target cuts and mixed sentiment may cap enthusiasm if investors worry that recent contract wins are not enough to quickly reaccelerate margins or earnings growth.

Insiders Place Their Bets

In other news, VP Timothy Mckeon sold 8,655 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $42.00, for a total transaction of $363,510.00. Following the transaction, the vice president directly owned 72,976 shares of the company's stock, valued at $3,064,992. This represents a 10.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Tobi M. Young sold 6,125 shares of the firm's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $41.72, for a total value of $255,535.00. Following the completion of the transaction, the director owned 15,250 shares in the company, valued at approximately $636,230. This trade represents a 28.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 258,255 shares of company stock worth $10,550,535 in the last 90 days. Insiders own 0.57% of the company's stock.

About Halliburton

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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