Brandes Investment Partners LP Boosts Stake in Halliburton (NYSE:HAL)

Brandes Investment Partners LP increased its stake in shares of Halliburton (NYSE:HAL) by 15.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,279,478 shares of the oilfield services company’s stock after purchasing an additional 560,325 shares during the period. Halliburton makes up approximately 1.8% of Brandes Investment Partners LP’s investment portfolio, making the stock its 18th largest position. Brandes Investment Partners LP’s holdings in Halliburton were worth $144,516,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of HAL. Quarry LP acquired a new stake in Halliburton in the second quarter valued at $184,000. Northwestern Mutual Wealth Management Co. lifted its stake in Halliburton by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 41,739 shares of the oilfield services company’s stock worth $1,410,000 after purchasing an additional 5,860 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Halliburton by 21.9% in the second quarter. NewEdge Advisors LLC now owns 73,725 shares of the oilfield services company’s stock valued at $2,490,000 after purchasing an additional 13,241 shares in the last quarter. Nemes Rush Group LLC increased its stake in Halliburton by 5.0% in the second quarter. Nemes Rush Group LLC now owns 138,556 shares of the oilfield services company’s stock valued at $4,680,000 after purchasing an additional 6,560 shares during the last quarter. Finally, Creative Planning boosted its holdings in shares of Halliburton by 5.8% in the 2nd quarter. Creative Planning now owns 155,159 shares of the oilfield services company’s stock valued at $5,241,000 after buying an additional 8,507 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Price Performance

Shares of NYSE:HAL opened at $28.65 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13. The business’s fifty day moving average price is $30.82 and its two-hundred day moving average price is $34.57. The stock has a market cap of $25.36 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 1.02 and a beta of 1.89. Halliburton has a one year low of $27.52 and a one year high of $43.85.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.95 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. On average, analysts forecast that Halliburton will post 3.14 EPS for the current fiscal year.

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Wednesday, September 4th. Halliburton’s payout ratio is 23.53%.

Wall Street Analysts Forecast Growth

HAL has been the subject of several research analyst reports. Johnson Rice upgraded shares of Halliburton to a “moderate buy” rating in a research note on Friday, July 19th. StockNews.com lowered shares of Halliburton from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Evercore ISI reduced their price target on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Piper Sandler dropped their price objective on shares of Halliburton from $46.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Finally, Bank of America decreased their target price on shares of Halliburton from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.56.

Insider Buying and Selling

In other news, EVP Van H. Beckwith sold 10,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $36.75, for a total transaction of $367,500.00. Following the transaction, the executive vice president now directly owns 273,908 shares in the company, valued at approximately $10,066,119. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.61% of the stock is owned by company insiders.

About Halliburton

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.