Commerce Bank Buys Shares of 34,704 Halliburton Company $HAL

Commerce Bank bought a new stake in shares of Halliburton Company (NYSE:HAL) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 34,704 shares of the oilfield services company’s stock, valued at approximately $1,178,000.

A number of other hedge funds have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Halliburton by 7.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company’s stock valued at $2,353,000 after buying an additional 6,507 shares during the last quarter. Woodline Partners LP grew its stake in shares of Halliburton by 39.0% in the first quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company’s stock worth $1,861,000 after acquiring an additional 20,583 shares during the last quarter. Focus Partners Wealth grew its stake in shares of Halliburton by 25.0% in the first quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company’s stock worth $1,320,000 after acquiring an additional 10,408 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Halliburton by 309.1% during the first quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company’s stock valued at $1,749,000 after acquiring an additional 52,092 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Halliburton during the first quarter valued at $895,000. 85.23% of the stock is owned by institutional investors.

Halliburton Trading Down 2.3%

Shares of NYSE:HAL opened at $33.85 on Wednesday. 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 Company has a 1 year low of $21.40 and a 1 year high of $43.59. The company has a market cap of $28.20 billion, a P/E ratio of 17.72, a PEG ratio of 2.17 and a beta of 0.73. The stock’s fifty day moving average price is $33.81 and its 200-day moving average price is $36.53.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, topping 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 company had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same period last year, the company earned $0.55 EPS. Halliburton’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts expect that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd will be paid a $0.17 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.0%. Halliburton’s payout ratio is currently 35.60%.

Insider Buying and Selling

In related news, CFO Eric Carre sold 24,778 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $35.89, for a total value of $889,282.42. Following the sale, the chief financial officer owned 148,520 shares in the company, valued at approximately $5,330,382.80. This trade represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jeffrey Shannon Slocum sold 52,572 shares of Halliburton stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the completion of the sale, the chief operating officer directly owned 118,730 shares of the company’s stock, valued at approximately $4,166,235.70. This trade represents a 30.69% decrease in their position. 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. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

HAL has been the topic of a number of analyst reports. Evercore reiterated an “outperform” rating and issued a $43.00 price target on shares of Halliburton in a research note on Wednesday, July 22nd. Wolfe Research assumed coverage on shares of Halliburton in a research note on Wednesday, July 8th. They set a “peer perform” rating for the company. Piper Sandler raised shares of Halliburton from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $40.00 to $43.00 in a report on Tuesday, July 14th. Argus decreased their target price on shares of Halliburton from $45.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Finally, Susquehanna dropped their target price on shares of Halliburton from $45.00 to $42.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. 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 stock. Based on data from MarketBeat.com, Halliburton has a consensus rating of “Moderate Buy” and a consensus target price of $43.10.

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.