GDS Wealth Management Boosts Stake in Halliburton (NYSE:HAL)

GDS Wealth Management raised its position in shares of Halliburton (NYSE:HAL) by 11.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,147 shares of the oilfield services company’s stock after buying an additional 31,389 shares during the quarter. GDS Wealth Management’s holdings in Halliburton were worth $10,443,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Capital World Investors grew its holdings in shares of Halliburton by 0.3% in the first quarter. Capital World Investors now owns 121,928,734 shares of the oilfield services company’s stock valued at $4,806,431,000 after purchasing an additional 377,500 shares in the last quarter. Vanguard Group Inc. increased its stake in Halliburton by 2.7% in the first quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock worth $3,952,805,000 after purchasing an additional 2,618,740 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Halliburton by 46.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock valued at $2,408,171,000 after purchasing an additional 19,237,784 shares during the period. Sanders Capital LLC boosted its position in Halliburton by 3.4% in the 4th quarter. Sanders Capital LLC now owns 23,538,783 shares of the oilfield services company’s stock valued at $850,927,000 after buying an additional 782,093 shares during the period. Finally, Norges Bank bought a new stake in shares of Halliburton during the fourth quarter valued at approximately $400,070,000. Institutional investors own 85.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HAL. Johnson Rice upgraded Halliburton to a “moderate buy” rating in a research note on Friday, July 19th. Morgan Stanley reduced their price objective on shares of Halliburton from $45.00 to $35.00 and set an “overweight” rating for the company in a research note on Monday. StockNews.com cut Halliburton from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Royal Bank of Canada lowered Halliburton from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $44.00 to $37.00 in a research report on Friday. Finally, Piper Sandler decreased their price objective on Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Halliburton currently has a consensus rating of “Moderate Buy” and an average price target of $43.88.

Halliburton Stock Performance

Shares of NYSE HAL opened at $28.41 on Tuesday. Halliburton has a 12 month low of $27.52 and a 12 month high of $43.85. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. The stock has a market cap of $25.15 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 0.95 and a beta of 1.89. The company has a 50 day simple moving average of $31.80 and a two-hundred day simple moving average of $35.00.

Halliburton (NYSE:HAL) last posted its earnings results on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The firm had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.95 billion. During the same period last year, the company earned $0.77 earnings per share. Halliburton’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, analysts predict that Halliburton will post 3.14 earnings per share for the current year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.39%. Halliburton’s dividend payout ratio is currently 23.53%.

Insider Buying and Selling at Halliburton

In other news, EVP Van H. Beckwith sold 10,000 shares of the business’s 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 completion of the sale, the executive vice president now owns 273,908 shares of the company’s stock, valued at $10,066,119. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is owned by corporate insiders.

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.