Birmingham Capital Management Co. Inc. AL Takes Position in Halliburton Company $HAL

Birmingham Capital Management Co. Inc. AL bought a new stake in shares of Halliburton Company (NYSE:HAL) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,260 shares of the oilfield services company’s stock, valued at approximately $688,000.

Other large investors have also bought and sold shares of the company. Kelleher Financial Advisors purchased a new stake in shares of Halliburton during the third quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Halliburton in the second quarter worth $25,000. Kilter Group LLC purchased a new position in shares of Halliburton in the second quarter worth $26,000. Meeder Asset Management Inc. bought a new stake in Halliburton during the 2nd quarter valued at $26,000. Finally, Silvant Capital Management LLC bought a new stake in Halliburton during the 2nd quarter valued at $28,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton News Summary

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: BP awards Halliburton an integrated Bumerangue contract: Halliburton will provide drilling, reservoir evaluation and digital technologies for BP’s first appraisal campaign at the Bumerangue discovery offshore Brazil. The contract expands HAL’s deepwater backlog and demonstrates demand for its integrated oilfield services, though near-term revenue and profit contributions remain unclear. Halliburton Wins BP Contract for Bumerangue Field Appraisal
• Positive Sentiment: Relative strength attracts investor attention: Halliburton finished higher even as the overall market weakened, indicating favorable investor reaction and relative strength. Market coverage identified the BP contract and the stock’s performance versus broader indexes as key developments. Halliburton Rises As Market Takes a Dip: Key Facts
• Neutral Sentiment: Dividend remains intact: Halliburton declared a quarterly dividend of $0.17 per share, payable September 23 to shareholders of record September 2. The payment supports the stock’s income appeal, but the dividend announcement was expected and is unlikely to materially change valuation. Halliburton Company Dividend Announcement
• Neutral Sentiment: Brokerage consensus is “Moderate Buy”: Analysts generally remain constructive on HAL, providing a supportive backdrop but not a major new catalyst for the stock. Halliburton Given Moderate Buy Recommendation
• Neutral Sentiment: Potential lithium-related work: Halliburton is reportedly set to begin test drilling at a lithium site in Cornwall, UK. The project could broaden the company’s technology applications, but it is early-stage and has no clear near-term earnings impact. US Oil Industry Giant to Start Test Drilling at Cornish Lithium Site

Halliburton Stock Up 1.8%

Shares of Halliburton stock opened at $34.40 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64. Halliburton Company has a 12-month low of $21.40 and a 12-month high of $43.59. The company has a market cap of $28.66 billion, a P/E ratio of 18.01, a PEG ratio of 2.12 and a beta of 0.73. The company’s fifty day simple moving average is $33.78 and its two-hundred day simple moving average is $36.54.

Halliburton (NYSE:HAL) last posted its earnings results 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. The firm had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.55 EPS. Research analysts anticipate that Halliburton Company will post 2.34 EPS for the current year.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be issued a $0.17 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $0.68 annualized dividend and a yield of 2.0%. Halliburton’s dividend payout ratio (DPR) is 35.60%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HAL shares. Susquehanna cut their price target on shares of Halliburton from $45.00 to $42.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. TD Cowen lowered their price objective on shares of Halliburton from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Citigroup increased their target price on shares of Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Piper Sandler raised Halliburton from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $40.00 to $43.00 in a research note on Tuesday, July 14th. Finally, Rothschild & Co Redburn boosted their price target on Halliburton from $40.00 to $49.00 and gave the company a “buy” rating in a report on Friday, May 15th. Eighteen 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 company’s stock. According to MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and an average price target of $43.10.

Insider Activity

In other Halliburton news, CFO Eric Carre sold 24,778 shares of Halliburton stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total transaction of $889,282.42. Following the sale, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at approximately $5,330,382.80. The trade was a 14.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 shares were sold at an average price of $35.09, for a total value of $1,844,751.48. Following the sale, the chief operating officer directly owned 118,730 shares in the company, valued at approximately $4,166,235.70. The trade was a 30.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.57% of the company’s stock.

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.