Cetera Investment Advisers Has $11.85 Million Holdings in Halliburton Company $HAL

Cetera Investment Advisers grew its position in Halliburton Company (NYSE:HAL) by 55.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 303,860 shares of the oilfield services company’s stock after acquiring an additional 108,419 shares during the period. Cetera Investment Advisers’ holdings in Halliburton were worth $11,847,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Nvest Wealth Strategies Inc. bought a new stake in Halliburton during the 4th quarter worth $25,000. Kelleher Financial Advisors bought a new position in Halliburton in the third quarter valued at about $25,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Halliburton during the second quarter valued at about $25,000. Zions Bancorporation National Association UT boosted its stake in shares of Halliburton by 196.4% during the fourth 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 bought a new stake in shares of Halliburton during the third quarter worth about $31,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Buying and Selling

In related news, EVP Van H. Beckwith sold 198,349 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $41.29, for a total value of $8,189,830.21. Following the transaction, the executive vice president owned 146,186 shares in the company, valued at $6,036,019.94. The trade was a 57.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $41.89, for a total transaction of $852,377.72. Following the sale, the insider directly owned 93,763 shares in the company, valued at $3,927,732.07. This trade represents a 17.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 243,475 shares of company stock valued at $9,931,490 over the last quarter. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on HAL. Jefferies Financial Group reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Halliburton in a research note on Sunday, April 26th. Morgan Stanley reduced their target price on shares of Halliburton from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. HSBC upped their price target on shares of Halliburton from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada lifted their price target on shares of Halliburton from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Finally, UBS Group reduced their price objective on shares of Halliburton from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.10.

Halliburton Stock Performance

Shares of HAL stock opened at $31.19 on Thursday. The business’s 50 day simple moving average is $36.27 and its 200 day simple moving average is $36.49. Halliburton Company has a one year low of $20.39 and a one year high of $43.59. The stock has a market capitalization of $25.98 billion, a PE ratio of 16.33, a PEG ratio of 1.95 and a beta of 0.71. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.50.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. The firm had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.50 billion. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 EPS. As a group, research analysts forecast that Halliburton Company will post 2.35 earnings per share for the current year.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd were paid 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 currently 35.60%.

Halliburton 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.