Readystate Asset Management LP Invests $7.32 Million in Halliburton Company $HAL

Readystate Asset Management LP acquired a new position in Halliburton Company (NYSE:HAL) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 187,669 shares of the oilfield services company’s stock, valued at approximately $7,317,000.

A number of other large investors have also recently made changes to their positions in HAL. Nvest Wealth Strategies Inc. purchased a new stake in Halliburton during the 4th quarter worth about $25,000. Kelleher Financial Advisors bought a new position in Halliburton in the 3rd quarter valued at $25,000. Newbridge Financial Services Group Inc. bought a new position in Halliburton in the 2nd quarter valued at $25,000. Zions Bancorporation National Association UT grew its position in shares of Halliburton by 196.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock valued at $28,000 after purchasing an additional 650 shares in the last quarter. Finally, Strive Asset Management LLC purchased a new position in shares of Halliburton during the 3rd quarter valued at $31,000. 85.23% of the stock is owned by institutional investors.

Halliburton Stock Performance

NYSE:HAL opened at $31.27 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64. Halliburton Company has a twelve month low of $20.39 and a twelve month high of $43.59. The stock has a market cap of $26.05 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 1.49 and a beta of 0.71. The firm’s fifty day simple moving average is $36.49 and its 200 day simple moving average is $36.50.

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

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Investors 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 2.2%. The ex-dividend date of this dividend was Wednesday, June 3rd. Halliburton’s dividend payout ratio (DPR) is 35.60%.

Analyst Ratings Changes

Several equities analysts recently commented on HAL shares. Capital One Financial boosted their target price on Halliburton from $41.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Piper Sandler raised shares of Halliburton from a “neutral” rating to an “overweight” rating and raised their target price for the company from $40.00 to $43.00 in a research note on Tuesday, July 14th. HSBC boosted their price target on shares of Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. UBS Group lowered their price objective on shares of Halliburton from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Wolfe Research assumed coverage on shares of Halliburton in a research report on Wednesday, July 8th. They issued a “peer perform” rating for the company. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.10.

Insiders Place Their Bets

In other Halliburton news, Director Tobi M. Young sold 6,125 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $41.72, for a total transaction of $255,535.00. Following the completion of the transaction, the director owned 15,250 shares of the company’s stock, valued at approximately $636,230. This trade represents a 28.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Van H. Beckwith sold 198,349 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $41.29, for a total value of $8,189,830.21. Following the completion of the sale, the executive vice president directly owned 146,186 shares in the company, valued at $6,036,019.94. This trade represents a 57.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 258,255 shares of company stock valued at $10,550,535. Insiders own 0.57% of the company’s stock.

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.