Avidian Wealth Solutions LLC Purchases 3,324 Shares of Halliburton (NYSE:HAL)

Avidian Wealth Solutions LLC grew its position in shares of Halliburton (NYSE:HAL) by 16.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,736 shares of the oilfield services company’s stock after buying an additional 3,324 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Halliburton were worth $936,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Mediolanum International Funds Ltd purchased a new stake in shares of Halliburton during the 1st quarter valued at $1,908,000. WealthTrust Asset Management LLC increased its stake in shares of Halliburton by 4.9% during the 1st quarter. WealthTrust Asset Management LLC now owns 33,969 shares of the oilfield services company’s stock worth $1,339,000 after purchasing an additional 1,574 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. lifted its stake in Halliburton by 4.7% in the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 51,852 shares of the oilfield services company’s stock valued at $2,044,000 after purchasing an additional 2,311 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in Halliburton during the first quarter valued at $116,000. Finally, Nikko Asset Management Americas Inc. increased its position in Halliburton by 21.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 36,205 shares of the oilfield services company’s stock worth $1,427,000 after buying an additional 6,478 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HAL. The Goldman Sachs Group upped their price target on Halliburton from $46.00 to $48.00 in a research report on Tuesday, April 23rd. Wells Fargo & Company reduced their target price on shares of Halliburton from $50.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Jefferies Financial Group raised their price objective on shares of Halliburton from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. StockNews.com cut shares of Halliburton from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. Finally, TD Cowen raised their price target on Halliburton from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.75.

Halliburton Trading Up 0.6 %

Shares of Halliburton stock traded up $0.19 during midday trading on Wednesday, reaching $33.02. 5,901,692 shares of the company’s stock traded hands, compared to its average volume of 7,241,126. The stock has a 50 day moving average of $35.18 and a 200-day moving average of $36.21. Halliburton has a 12 month low of $32.60 and a 12 month high of $43.85. The company has a market cap of $29.23 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 0.85 and a beta of 1.93. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.52 and a current ratio of 2.12.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.67 billion. During the same period in the prior year, the business earned $0.72 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts expect that Halliburton will post 3.37 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Wednesday, June 5th. Halliburton’s dividend payout ratio is currently 23.53%.

Insider Activity

In related news, SVP Jill D. Sharp sold 3,346 shares of Halliburton stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $37.00, for a total transaction of $123,802.00. Following the completion of the transaction, the senior vice president now directly owns 40,185 shares of the company’s stock, valued at approximately $1,486,845. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Jeffrey Shannon Slocum sold 38,941 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $36.92, for a total value of $1,437,701.72. Following the sale, the insider now directly owns 130,783 shares of the company’s stock, valued at $4,828,508.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Jill D. Sharp sold 3,346 shares of Halliburton stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $37.00, for a total value of $123,802.00. Following the completion of the transaction, the senior vice president now directly owns 40,185 shares of the company’s stock, valued at approximately $1,486,845. The disclosure for this sale can be found here. Insiders sold a total of 52,287 shares of company stock worth $1,930,704 in the last quarter. 0.61% of the stock is owned by company insiders.

About Halliburton

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.