GAMMA Investing LLC Grows Holdings in Halliburton (NYSE:HAL)

GAMMA Investing LLC lifted its holdings in Halliburton (NYSE:HAL) by 19.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,621 shares of the oilfield services company’s stock after buying an additional 1,730 shares during the quarter. GAMMA Investing LLC’s holdings in Halliburton were worth $309,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC purchased a new stake in shares of Halliburton in the 1st quarter worth about $26,000. Bruce G. Allen Investments LLC boosted its stake in Halliburton by 274.9% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock worth $38,000 after purchasing an additional 822 shares in the last quarter. Crewe Advisors LLC bought a new position in Halliburton in the 1st quarter worth about $46,000. Beacon Capital Management LLC boosted its stake in Halliburton by 28.8% in the 1st quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock worth $54,000 after purchasing an additional 309 shares in the last quarter. Finally, Mattson Financial Services LLC bought a new position in Halliburton in the 2nd quarter worth about $54,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Barclays dropped their price target on shares of Halliburton from $54.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Susquehanna dropped their price target on shares of Halliburton from $49.00 to $46.00 and set a “positive” rating on the stock in a research note on Monday, July 22nd. The Goldman Sachs Group dropped their price target on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Piper Sandler lowered their target price 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, JPMorgan Chase & Co. lowered their target price on shares of Halliburton from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and a consensus price target of $42.32.

Insider Buying and Selling

In related news, EVP Van H. Beckwith sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total value of $367,500.00. Following the completion of the sale, the executive vice president now directly owns 273,908 shares of the company’s stock, valued at approximately $10,066,119. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.61% of the stock is currently owned by insiders.

Halliburton Price Performance

Shares of NYSE:HAL opened at $30.73 on Friday. The firm’s 50 day moving average price is $30.24 and its 200-day moving average price is $34.16. Halliburton has a twelve month low of $27.52 and a twelve month high of $43.85. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $27.21 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 1.02 and a beta of 1.88.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The firm had revenue of $5.83 billion for the quarter, compared to analysts’ expectations of $5.95 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 EPS. Equities research analysts expect that Halliburton will post 3.14 EPS for the current year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.21%. The ex-dividend date was Wednesday, September 4th. Halliburton’s dividend payout ratio is 23.53%.

Halliburton Profile

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.