Simmons Bank Boosts Stake in Halliburton (NYSE:HAL)

Simmons Bank boosted its holdings in shares of Halliburton (NYSE:HAL) by 10.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,540 shares of the oilfield services company’s stock after acquiring an additional 5,530 shares during the period. Simmons Bank’s holdings in Halliburton were worth $1,977,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HAL. International Assets Investment Management LLC purchased a new position in Halliburton in the fourth quarter valued at approximately $5,166,000. CWM LLC lifted its position in shares of Halliburton by 4.9% in the fourth quarter. CWM LLC now owns 24,391 shares of the oilfield services company’s stock valued at $882,000 after acquiring an additional 1,138 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Halliburton by 1.2% during the fourth quarter. Truist Financial Corp now owns 1,132,713 shares of the oilfield services company’s stock valued at $40,948,000 after acquiring an additional 13,124 shares during the last quarter. Citizens Financial Group Inc. RI lifted its holdings in Halliburton by 3.9% in the 4th quarter. Citizens Financial Group Inc. RI now owns 34,361 shares of the oilfield services company’s stock valued at $1,242,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Stonebrook Private Inc. acquired a new stake in shares of Halliburton during the 4th quarter worth about $632,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on HAL shares. Barclays decreased their price target on Halliburton from $54.00 to $48.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Evercore ISI cut their price target on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Citigroup cut their target price on Halliburton from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Bank of America dropped their price objective on shares of Halliburton from $41.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Halliburton from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.35.

Insiders Place Their Bets

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total value of $367,500.00. Following the completion of the transaction, the executive vice president now owns 273,908 shares of the company’s stock, valued at $10,066,119. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.61% of the company’s stock.

Halliburton Trading Down 2.0 %

HAL stock traded down $0.62 during mid-day trading on Wednesday, reaching $31.00. 6,041,378 shares of the stock traded hands, compared to its average volume of 7,456,711. Halliburton has a one year low of $30.31 and a one year high of $43.85. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13. The business has a 50-day moving average price of $33.04 and a two-hundred day moving average price of $35.58. The stock has a market capitalization of $27.44 billion, a PE ratio of 10.94, a PEG ratio of 1.12 and a beta of 1.93.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.95 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. Halliburton’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 earnings per share. Equities research analysts expect that Halliburton will post 3.18 EPS for the current year.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Wednesday, September 4th. Halliburton’s dividend payout ratio (DPR) is presently 23.53%.

About Halliburton

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.