Freestone Capital Holdings LLC Acquires New Position in Halliburton Company $HAL

Freestone Capital Holdings LLC acquired a new position in shares of Halliburton Company (NYSE:HAL) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 22,597 shares of the oilfield services company’s stock, valued at approximately $461,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cerro Pacific Wealth Advisors LLC boosted its position in shares of Halliburton by 4.3% during the second quarter. Cerro Pacific Wealth Advisors LLC now owns 13,590 shares of the oilfield services company’s stock worth $277,000 after buying an additional 559 shares during the period. SBI Securities Co. Ltd. boosted its position in shares of Halliburton by 8.9% during the first quarter. SBI Securities Co. Ltd. now owns 6,870 shares of the oilfield services company’s stock worth $174,000 after buying an additional 562 shares during the period. International Assets Investment Management LLC boosted its position in shares of Halliburton by 2.6% during the second quarter. International Assets Investment Management LLC now owns 22,307 shares of the oilfield services company’s stock worth $455,000 after buying an additional 566 shares during the period. Mediolanum International Funds Ltd boosted its position in shares of Halliburton by 0.8% during the first quarter. Mediolanum International Funds Ltd now owns 72,381 shares of the oilfield services company’s stock worth $1,815,000 after buying an additional 584 shares during the period. Finally, AE Wealth Management LLC boosted its position in shares of Halliburton by 5.1% during the first quarter. AE Wealth Management LLC now owns 12,469 shares of the oilfield services company’s stock worth $316,000 after buying an additional 605 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on HAL. Barclays boosted their price objective on Halliburton from $20.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. Bank of America upped their target price on Halliburton from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. UBS Group upped their target price on Halliburton from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. The Goldman Sachs Group upped their target price on Halliburton from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, Royal Bank Of Canada upgraded Halliburton from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.73.

Halliburton Price Performance

NYSE HAL opened at $26.82 on Wednesday. The stock has a market capitalization of $22.57 billion, a P/E ratio of 17.76 and a beta of 1.02. Halliburton Company has a 1 year low of $18.72 and a 1 year high of $32.57. The business’s fifty day moving average is $23.84 and its two-hundred day moving average is $22.12. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.43 and a current ratio of 1.95.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Tuesday, October 21st. The oilfield services company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. The company had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.39 billion. Halliburton had a return on equity of 20.12% and a net margin of 5.91%.The firm’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 earnings per share. On average, research analysts forecast that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 2.5%. Halliburton’s dividend payout ratio is currently 45.03%.

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.