Halliburton Company $HAL Shares Acquired by Carrhae Capital LLP

Carrhae Capital LLP boosted its stake in Halliburton Company (NYSE:HAL) by 21.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 726,193 shares of the oilfield services company’s stock after acquiring an additional 128,472 shares during the quarter. Halliburton accounts for about 0.7% of Carrhae Capital LLP’s portfolio, making the stock its 20th biggest holding. Carrhae Capital LLP owned 0.09% of Halliburton worth $24,654,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the stock. Meeder Asset Management Inc. acquired a new stake in Halliburton in the 2nd quarter worth about $26,000. Kilter Group LLC acquired a new stake in shares of Halliburton in the second quarter worth approximately $26,000. Silvant Capital Management LLC purchased a new stake in shares of Halliburton during the second quarter worth $28,000. Matrix Trust Co acquired a new stake in Halliburton in the 2nd quarter valued at about $29,000. Finally, Zions Bancorporation National Association UT lifted its stake in Halliburton by 196.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock worth $28,000 after purchasing an additional 650 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Trading Down 0.6%

Shares of NYSE:HAL traded down $0.21 during midday trading on Tuesday, reaching $36.86. 8,448,155 shares of the company’s stock were exchanged, compared to its average volume of 13,476,296. The firm’s 50 day simple moving average is $34.19 and its two-hundred day simple moving average is $36.69. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.50. The stock has a market cap of $30.71 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 2.14 and a beta of 0.76. Halliburton Company has a fifty-two week low of $21.46 and a fifty-two week high of $43.59.

Halliburton (NYSE:HAL) last posted its earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 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 analysts’ expectations of $5.50 billion. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. Halliburton’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 earnings per share. As a group, sell-side analysts forecast that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, September 2nd. Halliburton’s dividend payout ratio is currently 35.60%.

Insider Buying and Selling at Halliburton

In other Halliburton news, CFO Eric Carre sold 24,778 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $35.89, for a total transaction of $889,282.42. Following the sale, the chief financial officer owned 148,520 shares in the company, valued at $5,330,382.80. This represents a 14.30% decrease in their position. The sale 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, COO Jeffrey Slocum sold 52,572 shares of the stock in a transaction on Wednesday, August 19th. The shares were 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

HAL has been the subject of several recent research reports. Piper Sandler raised Halliburton from a “neutral” rating to an “overweight” rating and increased their price target for the company from $40.00 to $43.00 in a report on Tuesday, July 14th. Weiss Ratings restated a “hold (c)” rating on shares of Halliburton in a report on Wednesday, July 8th. Capital One Financial raised their target price on Halliburton from $41.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Evercore reissued an “outperform” rating and set a $43.00 price target on shares of Halliburton in a research report on Wednesday, July 22nd. Finally, Susquehanna cut their price objective on shares of Halliburton from $45.00 to $42.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. Eighteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.10.

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.