L2 Asset Management LLC Purchases 40,402 Shares of Halliburton Company $HAL

L2 Asset Management LLC grew its position in shares of Halliburton Company (NYSE:HAL) by 93.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,759 shares of the oilfield services company’s stock after acquiring an additional 40,402 shares during the quarter. L2 Asset Management LLC’s holdings in Halliburton were worth $1,707,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HAL. Kingstone Capital Partners Texas LLC bought a new stake in Halliburton during the second quarter worth $287,000. V Square Quantitative Management LLC raised its holdings in shares of Halliburton by 82.1% during the 2nd quarter. V Square Quantitative Management LLC now owns 48,900 shares of the oilfield services company’s stock worth $997,000 after buying an additional 22,045 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Halliburton by 42.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 308,099 shares of the oilfield services company’s stock worth $7,816,000 after buying an additional 91,791 shares during the last quarter. Perpetual Ltd boosted its stake in Halliburton by 29.7% in the second quarter. Perpetual Ltd now owns 1,081,928 shares of the oilfield services company’s stock valued at $22,050,000 after buying an additional 248,015 shares in the last quarter. Finally, Jump Financial LLC grew its position in Halliburton by 2,895.2% in the first quarter. Jump Financial LLC now owns 756,150 shares of the oilfield services company’s stock valued at $19,184,000 after acquiring an additional 730,905 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

Insider Buying and Selling at Halliburton

In other news, insider Mark Richard sold 160,000 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $27.77, for a total transaction of $4,443,200.00. Following the completion of the transaction, the insider directly owned 452,374 shares in the company, valued at $12,562,425.98. This trade represents a 26.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HAL. Piper Sandler increased their target price on shares of Halliburton from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Royal Bank Of Canada raised shares of Halliburton from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, October 22nd. UBS Group boosted their target price on shares of Halliburton from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Morgan Stanley upped their price target on shares of Halliburton from $26.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Finally, BMO Capital Markets raised their price objective on Halliburton from $28.00 to $31.00 in a report on Tuesday, November 11th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $31.55.

Halliburton Trading Up 2.4%

Shares of NYSE HAL opened at $28.49 on Monday. The firm has a 50 day moving average price of $25.73 and a two-hundred day moving average price of $23.13. The stock has a market cap of $23.98 billion, a P/E ratio of 18.87 and a beta of 0.81. Halliburton Company has a 52-week low of $18.72 and a 52-week high of $30.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.43 and a current ratio of 1.95.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, October 21st. The oilfield services company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.39 billion. Halliburton had a net margin of 5.91% and a return on equity of 20.12%. Halliburton’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 earnings per share. As a group, equities analysts forecast that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, December 3rd. Halliburton’s payout ratio is 45.03%.

Halliburton Profile

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.