Fox Run Management L.L.C. Takes Position in Halliburton Company $HAL

Fox Run Management L.L.C. bought a new position in shares of Halliburton Company (NYSE:HAL) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 23,579 shares of the oilfield services company’s stock, valued at approximately $580,000.

A number of other hedge funds also recently bought and sold shares of HAL. Cullen Frost Bankers Inc. purchased a new stake in Halliburton in the 3rd quarter worth approximately $25,000. Newbridge Financial Services Group Inc. bought a new position in shares of Halliburton during the second quarter valued at approximately $25,000. Root Financial Partners LLC purchased a new stake in Halliburton in the third quarter worth $32,000. Rakuten Securities Inc. boosted its holdings in Halliburton by 547.3% in the second quarter. Rakuten Securities Inc. now owns 1,586 shares of the oilfield services company’s stock valued at $32,000 after acquiring an additional 1,341 shares in the last quarter. Finally, Cape Investment Advisory Inc. boosted its holdings in Halliburton by 111.9% in the second quarter. Cape Investment Advisory Inc. now owns 1,704 shares of the oilfield services company’s stock valued at $35,000 after acquiring an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Insider Activity

In related news, Director Margaret Katherine Banks sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $34.17, for a total value of $88,842.00. Following the completion of the transaction, the director directly owned 14,043 shares in the company, valued at $479,849.31. The trade was a 15.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lawrence J. Pope sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $32.25, for a total value of $3,225,000.00. Following the completion of the transaction, the executive vice president directly owned 419,800 shares in the company, valued at $13,538,550. This trade represents a 19.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 337,002 shares of company stock valued at $11,445,938 over the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

Halliburton Stock Up 0.6%

HAL stock opened at $35.93 on Friday. The business has a 50 day moving average of $32.61 and a 200 day moving average of $27.53. The firm has a market cap of $30.09 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 2.14 and a beta of 0.77. Halliburton Company has a twelve month low of $18.72 and a twelve month high of $36.19. The company has a quick ratio of 1.51, a current ratio of 2.04 and a debt-to-equity ratio of 0.68.

Halliburton (NYSE:HAL) last released its earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.14. Halliburton had a return on equity of 19.77% and a net margin of 5.78%.The firm had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the prior year, the firm posted $0.73 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, research analysts forecast that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, March 4th. Halliburton’s dividend payout ratio (DPR) is currently 45.03%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on HAL shares. UBS Group raised their target price on shares of Halliburton from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Halliburton in a report on Monday, December 29th. Wall Street Zen downgraded Halliburton from a “strong-buy” rating to a “buy” rating in a report on Saturday. Piper Sandler raised their target price on Halliburton from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Finally, Argus lifted their price target on Halliburton from $31.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.19.

About Halliburton

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.