Valley National Advisers Inc. Has $1.37 Million Position in Halliburton Company $HAL

Valley National Advisers Inc. increased its stake in shares of Halliburton Company (NYSE:HAL) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,288 shares of the oilfield services company’s stock after acquiring an additional 1,290 shares during the quarter. Valley National Advisers Inc.’s holdings in Halliburton were worth $1,371,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HAL. NBC Securities Inc. grew its stake in shares of Halliburton by 111,028.6% in the 1st quarter. NBC Securities Inc. now owns 7,779 shares of the oilfield services company’s stock valued at $197,000 after buying an additional 7,772 shares during the period. Merit Financial Group LLC grew its stake in Halliburton by 206.8% in the first quarter. Merit Financial Group LLC now owns 44,440 shares of the oilfield services company’s stock valued at $1,127,000 after acquiring an additional 29,953 shares during the period. Gateway Investment Advisers LLC grew its stake in Halliburton by 10.9% in the first quarter. Gateway Investment Advisers LLC now owns 469,346 shares of the oilfield services company’s stock valued at $11,907,000 after acquiring an additional 45,961 shares during the period. Wesbanco Bank Inc. increased its holdings in shares of Halliburton by 59.3% during the first quarter. Wesbanco Bank Inc. now owns 258,543 shares of the oilfield services company’s stock valued at $6,559,000 after acquiring an additional 96,236 shares in the last quarter. Finally, Pallas Capital Advisors LLC acquired a new position in shares of Halliburton during the first quarter worth approximately $568,000. 85.23% of the stock is owned by institutional investors.

Halliburton Stock Down 0.3%

HAL stock opened at $24.31 on Monday. The stock has a market cap of $20.72 billion, a P/E ratio of 11.36 and a beta of 1.02. The company has a current ratio of 2.00, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. The stock’s fifty day simple moving average is $22.42 and its two-hundred day simple moving average is $21.80. Halliburton Company has a 1-year low of $18.72 and a 1-year high of $32.57.

Halliburton (NYSE:HAL) last released its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. The company had revenue of $5.51 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. Analysts expect that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Wednesday, September 3rd. Halliburton’s payout ratio is presently 31.78%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Melius started coverage on shares of Halliburton in a research report on Wednesday, August 20th. They issued a “buy” rating and a $41.00 price target for the company. Susquehanna decreased their target price on shares of Halliburton from $30.00 to $27.00 and set a “positive” rating for the company in a research report on Wednesday, July 23rd. Stifel Nicolaus lowered their target price on shares of Halliburton from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Royal Bank Of Canada cut their price target on Halliburton from $28.00 to $24.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 23rd. Finally, UBS Group increased their price objective on Halliburton from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.20.

Halliburton Company 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.