Readystate Asset Management LP Buys 311,149 Shares of Halliburton Company $HAL

Readystate Asset Management LP raised its position in Halliburton Company (NYSE:HAL) by 165.8% during the second quarter, Holdings Channel reports. The institutional investor owned 498,818 shares of the oilfield services company’s stock after buying an additional 311,149 shares during the quarter. Readystate Asset Management LP’s holdings in Halliburton were worth $16,935,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Halliburton by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company’s stock worth $2,353,000 after purchasing an additional 6,507 shares during the last quarter. Woodline Partners LP raised its stake in shares of Halliburton by 39.0% during the first quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company’s stock worth $1,861,000 after buying an additional 20,583 shares during the last quarter. Focus Partners Wealth boosted its stake in Halliburton by 25.0% in the first quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company’s stock valued at $1,320,000 after acquiring an additional 10,408 shares during the last quarter. Intech Investment Management LLC grew its holdings in Halliburton by 309.1% during the 1st quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company’s stock worth $1,749,000 after acquiring an additional 52,092 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Halliburton during the 1st quarter valued at $895,000. Institutional investors own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HAL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Halliburton in a research note on Wednesday, July 8th. Barclays decreased their target price on Halliburton from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Wolfe Research began coverage on shares of Halliburton in a research report on Wednesday, July 8th. They issued a “peer perform” rating on the stock. Argus decreased their price objective on shares of Halliburton from $45.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Finally, Wall Street Zen downgraded shares of Halliburton from a “buy” rating to a “hold” rating in a research note on Monday, August 31st. Eighteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and an average price target of $43.10.

Insider Transactions at Halliburton

In other Halliburton news, COO Jeffrey Slocum sold 52,572 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total value of $1,844,751.48. Following the completion of the transaction, the chief operating officer directly owned 118,730 shares in the company, valued at $4,166,235.70. This trade represents a 30.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, CFO Eric Carre sold 24,778 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total value of $889,282.42. Following the transaction, the chief financial officer directly owned 148,520 shares in the company, valued at $5,330,382.80. This trade represents a 14.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is currently owned by company insiders.

Halliburton Price Performance

NYSE HAL opened at $37.05 on Monday. 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 cap of $30.87 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 2.14 and a beta of 0.76. The business has a 50 day simple moving average of $34.07 and a 200 day simple moving average of $36.65. Halliburton Company has a 52-week low of $21.46 and a 52-week high of $43.59.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The company had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter in the prior year, the company earned $0.55 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. Analysts anticipate that Halliburton Company will post 2.34 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.8%. Halliburton’s dividend payout ratio (DPR) is currently 35.60%.

Halliburton 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.