Magnolia Capital Advisors LLC Acquires Shares of 20,622 Halliburton (NYSE:HAL)

Magnolia Capital Advisors LLC bought a new stake in Halliburton (NYSE:HAL) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 20,622 shares of the oilfield services company’s stock, valued at approximately $697,000.

Several other large investors have also made changes to their positions in the company. Rise Advisors LLC acquired a new position in Halliburton in the first quarter valued at about $26,000. Bruce G. Allen Investments LLC raised its stake in shares of Halliburton by 274.9% in the second quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock valued at $38,000 after acquiring an additional 822 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of Halliburton in the 1st quarter worth approximately $46,000. Assetmark Inc. grew its position in Halliburton by 286.2% during the 4th quarter. Assetmark Inc. now owns 1,201 shares of the oilfield services company’s stock worth $43,000 after acquiring an additional 890 shares during the last quarter. Finally, Beacon Capital Management LLC increased its holdings in Halliburton by 28.8% during the 1st quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock valued at $54,000 after purchasing an additional 309 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Halliburton Price Performance

Shares of HAL opened at $28.65 on Monday. The stock has a market cap of $25.36 billion, a P/E ratio of 9.91, a price-to-earnings-growth ratio of 1.02 and a beta of 1.89. Halliburton has a 1 year low of $27.52 and a 1 year high of $43.85. The stock’s 50-day moving average price is $30.82 and its two-hundred day moving average price is $34.57. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76.

Halliburton (NYSE:HAL) last released 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. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The business had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.95 billion. During the same quarter last year, the firm earned $0.77 EPS. Halliburton’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that Halliburton will post 3.14 earnings per share for the current year.

Halliburton Dividend Announcement

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

Insider Buying and Selling

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

Wall Street Analyst Weigh In

HAL has been the topic of several research analyst reports. Benchmark restated a “buy” rating and set a $42.00 target price on shares of Halliburton in a report on Monday, July 22nd. Barclays decreased their price objective on shares of Halliburton from $54.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. UBS Group dropped their target price on shares of Halliburton from $41.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Stifel Nicolaus decreased their price target on shares of Halliburton from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Finally, TD Cowen dropped their price objective on shares of Halliburton from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and a consensus target price of $42.56.

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.