Kercheville Advisors LLC Invests $665,000 in Halliburton Company $HAL

Kercheville Advisors LLC acquired a new position in shares of Halliburton Company (NYSE:HAL) in the first quarter, Holdings Channel reports. The institutional investor acquired 17,050 shares of the oilfield services company’s stock, valued at approximately $665,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of HAL. Cidel Asset Management Inc. raised its stake in shares of Halliburton by 75.5% in the 1st quarter. Cidel Asset Management Inc. now owns 20,305 shares of the oilfield services company’s stock valued at $792,000 after acquiring an additional 8,734 shares during the period. Stonebridge Financial Group LLC MO acquired a new position in shares of Halliburton in the 1st quarter worth approximately $203,000. AGP Franklin LLC purchased a new position in shares of Halliburton during the 1st quarter worth approximately $1,178,000. Kaufman Rossin Wealth LLC purchased a new position in shares of Halliburton during the 1st quarter worth approximately $248,000. Finally, SG Americas Securities LLC increased its holdings in Halliburton by 12.4% in the 1st quarter. SG Americas Securities LLC now owns 837,956 shares of the oilfield services company’s stock valued at $32,672,000 after purchasing an additional 92,569 shares during the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Halliburton Price Performance

Halliburton stock opened at $35.11 on Wednesday. The firm has a market cap of $29.33 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. Halliburton Company has a 52-week low of $20.09 and a 52-week high of $43.59. The company has a quick ratio of 1.54, a current ratio of 2.08 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $39.56 and its two-hundred day moving average is $35.56.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.50 by $0.05. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The business had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, research analysts expect that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd will be issued a $0.17 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.9%. Halliburton’s dividend payout ratio (DPR) is 37.36%.

Insider Activity

In other Halliburton news, VP Timothy Mckeon sold 8,655 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $42.00, for a total value of $363,510.00. Following the sale, the vice president owned 72,976 shares of the company’s stock, valued at $3,064,992. This trade represents a 10.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Van H. Beckwith sold 198,349 shares of Halliburton stock in a transaction dated 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 completion of the transaction, the executive vice president owned 146,186 shares of the company’s stock, valued at $6,036,019.94. The trade was a 57.57% 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 a total of 416,710 shares of company stock worth $16,888,735 over the last three months. Company insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Halliburton from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Piper Sandler raised their price target on Halliburton from $34.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Griffin Securities upgraded 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. Susquehanna increased their target price on Halliburton from $40.00 to $45.00 and gave the stock a “positive” rating in a research note on Tuesday, April 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Halliburton in a research note on Friday, April 10th. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Halliburton has an average rating of “Moderate Buy” and an average price target of $43.27.

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.