Gamco Investors INC. ET AL Lowers Holdings in Halliburton Company $HAL

Gamco Investors INC. ET AL trimmed its position in Halliburton Company (NYSE:HAL) by 9.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 471,730 shares of the oilfield services company’s stock after selling 51,566 shares during the period. Gamco Investors INC. ET AL’s holdings in Halliburton were worth $18,393,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in HAL. Nvest Wealth Strategies Inc. bought a new position in shares of Halliburton in the fourth quarter worth $25,000. Kelleher Financial Advisors bought a new stake in Halliburton during the third quarter valued at $25,000. Newbridge Financial Services Group Inc. bought a new stake in Halliburton during the second quarter valued at $25,000. Zions Bancorporation National Association UT grew its position in Halliburton by 196.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock worth $28,000 after buying an additional 650 shares in the last quarter. Finally, Strive Asset Management LLC purchased a new position in Halliburton during the third quarter worth about $31,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Key Halliburton News

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton reported Q2 revenue of $5.71 billion and EPS of $0.55, both modestly ahead of expectations, reinforcing that core business performance remains solid. Article title
• Positive Sentiment: The company won a new integrated field development contract with Basra Oil Company in Iraq, adding another large international project and expanding its presence in a key oil-producing region. Article title
• Positive Sentiment: Halliburton also secured additional development work in Kuwait, reinforcing the view that recent contract wins are improving its growth outlook and supporting its international business mix. Article title
• Neutral Sentiment: Several commentary pieces pointed to a stronger long-term outlook thanks to Halliburton’s technology edge and global contract pipeline, but also noted that geopolitical risk and uneven execution could limit near-term upside.
• Neutral Sentiment: TD Cowen reportedly lowered expectations for Halliburton, and other firms trimmed price targets, suggesting analysts remain cautious even as the stock benefits from new business wins.
• Negative Sentiment: Analyst target cuts and mixed sentiment may cap enthusiasm if investors worry that recent contract wins are not enough to quickly reaccelerate margins or earnings growth.

Halliburton Price Performance

HAL opened at $33.31 on Friday. The stock has a 50-day moving average price of $36.94 and a 200-day moving average price of $36.45. Halliburton Company has a 12-month low of $20.39 and a 12-month high of $43.59. The company has a current ratio of 2.02, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $27.83 billion, a P/E ratio of 17.44, a PEG ratio of 1.54 and a beta of 0.71.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. The firm had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.55 EPS. Equities analysts predict that Halliburton Company will post 2.35 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Wednesday, June 3rd. Halliburton’s dividend payout ratio (DPR) is presently 35.60%.

Insider Activity

In other Halliburton news, EVP Van H. Beckwith sold 198,349 shares of Halliburton stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $41.29, for a total transaction of $8,189,830.21. Following the transaction, the executive vice president directly owned 146,186 shares of the company’s stock, valued at approximately $6,036,019.94. This trade represents a 57.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Casey Maxwell sold 20,348 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $41.89, for a total transaction of $852,377.72. Following the completion of the sale, the insider owned 93,763 shares of the company’s stock, valued at approximately $3,927,732.07. The trade was a 17.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 258,255 shares of company stock valued at $10,550,535. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on HAL. Susquehanna decreased their target price on Halliburton from $45.00 to $42.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. UBS Group lifted their price target on Halliburton from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Royal Bank Of Canada boosted their price objective on Halliburton from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. TD Cowen decreased their price objective on shares of Halliburton from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets set a $37.00 target price on shares of Halliburton in a research report on Wednesday. Eighteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.14.

Halliburton Company Profile

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.