USA Financial Formulas Invests $800,000 in Halliburton Company $HAL

USA Financial Formulas purchased a new stake in Halliburton Company (NYSE:HAL) during the first quarter, according to its most recent filing with the SEC. The firm purchased 20,508 shares of the oilfield services company’s stock, valued at approximately $800,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. BIP Wealth LLC acquired a new position in Halliburton during the second quarter valued at approximately $282,000. Bryn Mawr Trust Advisors LLC acquired a new stake in Halliburton in the second quarter worth $321,000. Ballast Inc. raised its holdings in Halliburton by 12.9% in the second quarter. Ballast Inc. now owns 50,273 shares of the oilfield services company’s stock worth $1,707,000 after purchasing an additional 5,730 shares during the period. Annex Advisory Services LLC boosted its position in shares of Halliburton by 2.8% during the second quarter. Annex Advisory Services LLC now owns 120,423 shares of the oilfield services company’s stock worth $4,088,000 after purchasing an additional 3,256 shares in the last quarter. Finally, Tema ETFs LLC boosted its position in shares of Halliburton by 10.0% during the second quarter. Tema ETFs LLC now owns 17,617 shares of the oilfield services company’s stock worth $598,000 after purchasing an additional 1,595 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Halliburton Price Performance

Shares of HAL opened at $34.44 on Friday. The stock has a market capitalization of $28.70 billion, a P/E ratio of 18.03, a P/E/G ratio of 2.15 and a beta of 0.73. Halliburton Company has a twelve month low of $20.78 and a twelve month high of $43.59. The company has a 50 day moving average of $34.42 and a 200-day moving average of $36.46. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.50 billion. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share. As a group, equities research analysts forecast that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, June 3rd. Halliburton’s payout ratio is presently 35.60%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Zephirin Group boosted their price target on shares of Halliburton from $30.00 to $31.00 and gave the company a “sell” rating in a report on Wednesday, April 22nd. Royal Bank Of Canada raised their price objective on Halliburton from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Halliburton in a report on Wednesday, July 8th. Evercore reissued an “outperform” rating and issued a $43.00 target price on shares of Halliburton in a research note on Wednesday, July 22nd. Finally, BMO Capital Markets set a $37.00 price target on Halliburton in a report on Wednesday, July 22nd. Eighteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.10.

Insider Transactions at Halliburton

In other Halliburton news, CFO Eric Carre sold 24,778 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were 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 $5,330,382.80. The trade was a 14.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.