MinichMacGregor Wealth Management LLC Acquires Shares of 28,524 Halliburton Company $HAL

MinichMacGregor Wealth Management LLC bought a new stake in shares of Halliburton Company (NYSE:HAL) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 28,524 shares of the oilfield services company’s stock, valued at approximately $1,112,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Contravisory Investment Management Inc. purchased a new stake in Halliburton during the 4th quarter valued at about $1,054,000. Impala Asset Management LLC bought a new stake in Halliburton during the 3rd quarter valued at about $2,091,000. QV Investors Inc. bought a new stake in Halliburton during the 4th quarter valued at about $3,195,000. Sanders Capital LLC raised its holdings in Halliburton by 9.4% in the third quarter. Sanders Capital LLC now owns 26,004,682 shares of the oilfield services company’s stock worth $639,715,000 after buying an additional 2,238,983 shares during the last quarter. Finally, ABN Amro Investment Solutions purchased a new position in Halliburton in the fourth quarter worth about $827,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Stock Performance

Shares of HAL stock opened at $33.96 on Thursday. The company has a quick ratio of 1.54, a current ratio of 2.08 and a debt-to-equity ratio of 0.65. The company has a 50 day moving average price of $39.47 and a 200-day moving average price of $35.61. Halliburton Company has a 52 week low of $20.09 and a 52 week high of $43.59. The firm has a market capitalization of $28.37 billion, a PE ratio of 18.66, a P/E/G ratio of 1.52 and a beta of 0.69.

Halliburton (NYSE:HAL) last issued its earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The company had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the company posted $0.60 earnings per share. The firm’s quarterly revenue was down .3% on a year-over-year basis. As a group, equities research analysts expect that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, June 3rd. Halliburton’s dividend payout ratio (DPR) is 37.36%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on HAL shares. Morgan Stanley increased their price target on shares of Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Barclays upgraded shares of Halliburton from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $37.00 to $55.00 in a report on Thursday, May 7th. TD Cowen upped their price objective on Halliburton from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. increased their target price on Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Finally, Evercore lifted their target price on Halliburton from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Eighteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Halliburton currently has a consensus rating of “Moderate Buy” and an average price target of $43.27.

Insider Transactions at Halliburton

In other Halliburton news, CEO Jeffrey Allen Miller sold 158,455 shares of the stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $40.00, for a total value of $6,338,200.00. Following the transaction, the chief executive officer owned 1,013,027 shares of the company’s stock, valued at approximately $40,521,080. This represents a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Van H. Beckwith sold 198,349 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $41.29, for a total value of $8,189,830.21. Following the completion of the transaction, the executive vice president directly owned 146,186 shares in the company, valued at $6,036,019.94. The trade was a 57.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 416,710 shares of company stock worth $16,888,735. Company insiders own 0.57% of the company’s stock.

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.