Gateway Wealth Partners LLC Buys Shares of 19,765 Halliburton Company $HAL

Gateway Wealth Partners LLC purchased a new stake in shares of Halliburton Company (NYSE:HAL) during the first quarter, HoldingsChannel.com reports. The fund purchased 19,765 shares of the oilfield services company’s stock, valued at approximately $771,000.

A number of other large investors have also recently made changes to their positions in HAL. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Halliburton by 82,596.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after purchasing an additional 29,735,387 shares during the last quarter. Capital Research Global Investors grew its position in Halliburton by 21.1% in the 4th quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock worth $3,114,848,000 after purchasing an additional 19,190,520 shares during the period. Norges Bank bought a new stake in Halliburton in the 4th quarter worth approximately $169,304,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Halliburton by 12,413.2% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,163,259 shares of the oilfield services company’s stock valued at $162,325,000 after buying an additional 4,129,988 shares during the last quarter. Finally, Canoe Financial LP purchased a new stake in Halliburton during the 1st quarter valued at $158,525,000. 85.23% of the stock is currently owned by institutional investors.

Halliburton Stock Down 0.1%

NYSE HAL opened at $31.19 on Thursday. 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 52 week low of $20.39 and a 52 week high of $43.59. The company has a market capitalization of $25.98 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 1.95 and a beta of 0.71. The stock’s 50-day moving average price is $36.27 and its 200-day moving average price is $36.49.

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. 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 the consensus estimate of $5.50 billion. During the same period in the previous year, the business earned $0.55 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. On average, equities research analysts predict that Halliburton Company will post 2.35 earnings per share for the current year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.2%. Halliburton’s dividend payout ratio (DPR) is 35.60%.

Insider Activity at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 198,349 shares of the stock in a transaction 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 completion of the transaction, the executive vice president 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Casey Maxwell sold 20,348 shares of Halliburton stock in a transaction 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 transaction, the insider directly owned 93,763 shares of the company’s stock, valued at $3,927,732.07. The trade was a 17.83% 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. Over the last ninety days, insiders sold 243,475 shares of company stock valued at $9,931,490. 0.57% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on HAL. Citigroup raised their price target on Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Wolfe Research started coverage on Halliburton in a research report on Wednesday, July 8th. They issued a “peer perform” rating on the stock. Barclays cut their price target on Halliburton from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. increased their price objective on shares of Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Finally, Griffin Securities raised shares of Halliburton from a “neutral” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Wednesday, April 22nd. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.10.

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.