Fortem Financial Group LLC Invests $1.34 Million in Halliburton Company $HAL

Fortem Financial Group LLC bought a new position in shares of Halliburton Company (NYSE:HAL) during the fourth quarter, Holdings Channel reports. The firm bought 47,481 shares of the oilfield services company’s stock, valued at approximately $1,342,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new position in Halliburton during the 4th quarter valued at about $1,054,000. Bank of New York Mellon Corp grew its holdings in shares of Halliburton by 1.7% during the third quarter. Bank of New York Mellon Corp now owns 5,929,285 shares of the oilfield services company’s stock worth $145,860,000 after purchasing an additional 96,394 shares in the last quarter. Tejara Capital Ltd grew its holdings in shares of Halliburton by 98.8% during the third quarter. Tejara Capital Ltd now owns 134,365 shares of the oilfield services company’s stock worth $3,305,000 after purchasing an additional 66,765 shares in the last quarter. Ritholtz Wealth Management purchased a new position in shares of Halliburton during the third quarter worth about $1,775,000. Finally, New York State Common Retirement Fund boosted its stake in Halliburton by 12.8% in the third quarter. New York State Common Retirement Fund now owns 1,645,526 shares of the oilfield services company’s stock worth $40,480,000 after buying an additional 186,105 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Jeffrey Allen Miller sold 158,455 shares of the firm’s stock in a transaction on Friday, March 27th. The stock was sold at an average price of $40.00, for a total transaction of $6,338,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,013,027 shares in the company, valued at $40,521,080. This trade represents a 13.53% 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. Also, Director Tobi M. Young sold 6,125 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $41.72, for a total value of $255,535.00. Following the transaction, the director owned 15,250 shares of the company’s stock, valued at $636,230. The trade was a 28.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 222,488 shares of company stock valued at $8,789,305. 0.57% of the stock is currently owned by insiders.

Halliburton Price Performance

Shares of NYSE:HAL opened at $39.84 on Monday. Halliburton Company has a 1-year low of $19.38 and a 1-year high of $42.46. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54. The business has a fifty day moving average price of $37.58 and a 200-day moving average price of $32.52. The company has a market capitalization of $33.29 billion, a PE ratio of 21.89, a PEG ratio of 1.74 and a beta of 0.73.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.05. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The firm had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period last year, the company earned $0.60 earnings per share. The company’s revenue was down .3% on a year-over-year basis. As a group, equities analysts expect that Halliburton Company will post 2.32 EPS for the current fiscal year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th were issued a dividend of $0.17 per share. The ex-dividend date was Wednesday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 1.7%. Halliburton’s dividend payout ratio (DPR) is presently 37.36%.

Halliburton News Summary

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Barclays upgraded Halliburton to overweight and raised its price target to $55, signaling stronger confidence in the company’s upside. Barclays upgrade coverage
• Positive Sentiment: Broader analyst sentiment has improved, with multiple firms raising price targets and Halliburton’s latest earnings topping expectations.
• Neutral Sentiment: An insider sold 20,348 shares, but the transaction was made under a pre-arranged trading plan, making it less likely to reflect a negative change in the company’s outlook. Insider sale details
• Neutral Sentiment: New articles highlighting Halliburton’s trend status and valuation story reflect renewed market attention rather than a specific company event. Wall Street bullish or bearish article

Analyst Ratings Changes

Several analysts have issued reports on HAL shares. Citigroup upped their target price on Halliburton from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Halliburton in a research report on Friday, April 10th. Barclays upgraded Halliburton from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $37.00 to $55.00 in a research report on Thursday. JPMorgan Chase & Co. upped their target price on Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen cut Halliburton from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 3rd. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.91.

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.