Pallas Capital Advisors LLC Purchases Shares of 22,389 Halliburton (NYSE:HAL)

Pallas Capital Advisors LLC purchased a new stake in shares of Halliburton (NYSE:HAL) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 22,389 shares of the oilfield services company’s stock, valued at approximately $568,000.

A number of other hedge funds also recently made changes to their positions in HAL. Strategic Financial Concepts LLC purchased a new stake in shares of Halliburton during the fourth quarter valued at approximately $728,000. Apollon Wealth Management LLC raised its stake in shares of Halliburton by 52.1% during the fourth quarter. Apollon Wealth Management LLC now owns 18,222 shares of the oilfield services company’s stock valued at $495,000 after purchasing an additional 6,243 shares during the period. Kingsview Wealth Management LLC raised its stake in shares of Halliburton by 13.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 10,974 shares of the oilfield services company’s stock valued at $298,000 after purchasing an additional 1,280 shares during the period. Wilmington Savings Fund Society FSB raised its stake in shares of Halliburton by 3.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 12,776 shares of the oilfield services company’s stock valued at $347,000 after purchasing an additional 453 shares during the period. Finally, Kestra Private Wealth Services LLC raised its stake in shares of Halliburton by 14.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 31,877 shares of the oilfield services company’s stock valued at $867,000 after purchasing an additional 3,911 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HAL. Citigroup dropped their price target on shares of Halliburton from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus dropped their price target on shares of Halliburton from $37.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group dropped their price target on shares of Halliburton from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Hsbc Global Res upgraded shares of Halliburton to a “hold” rating in a research note on Wednesday, April 23rd. Finally, Barclays dropped their price target on shares of Halliburton from $29.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 23rd. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.58.

Halliburton Stock Performance

Shares of HAL opened at $22.21 on Thursday. Halliburton has a 1 year low of $18.72 and a 1 year high of $37.08. The company has a market cap of $19.09 billion, a price-to-earnings ratio of 7.85, a price-to-earnings-growth ratio of 3.79 and a beta of 1.14. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 2.05. The firm has a fifty day moving average of $20.62 and a 200-day moving average of $24.76.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, April 22nd. The oilfield services company reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.60. Halliburton had a net margin of 10.90% and a return on equity of 26.03%. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.28 billion. As a group, equities analysts anticipate that Halliburton will post 2.64 earnings per share for the current year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Wednesday, June 4th. Halliburton’s dividend payout ratio (DPR) is 28.45%.

Insider Activity

In related news, CFO Eric Carre sold 51,179 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $25.00, for a total value of $1,279,475.00. Following the completion of the transaction, the chief financial officer now owns 127,101 shares in the company, valued at $3,177,525. This represents a 28.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.56% of the company’s stock.

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.