Covalent Partners LLC Has $3.05 Million Stock Position in Halliburton (NYSE:HAL)

Covalent Partners LLC lessened its stake in shares of Halliburton (NYSE:HAL) by 42.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,000 shares of the oilfield services company’s stock after selling 99,000 shares during the quarter. Halliburton accounts for about 5.9% of Covalent Partners LLC’s investment portfolio, making the stock its 7th largest position. Covalent Partners LLC’s holdings in Halliburton were worth $3,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of HAL. Asset Planning Services Ltd. lifted its position in shares of Halliburton by 903.2% during the 2nd quarter. Asset Planning Services Ltd. now owns 1,254 shares of the oilfield services company’s stock worth $29,000 after buying an additional 1,129 shares during the period. Meridian Wealth Management LLC bought a new position in shares of Halliburton during the 2nd quarter worth approximately $32,000. Berman Capital Advisors LLC lifted its position in shares of Halliburton by 46.0% during the 1st quarter. Berman Capital Advisors LLC now owns 1,253 shares of the oilfield services company’s stock worth $36,000 after buying an additional 395 shares during the period. Mizuho Securities Co. Ltd. bought a new position in shares of Halliburton during the 2nd quarter worth approximately $45,000. Finally, Dougherty Wealth Advisers LLC bought a new position in shares of Halliburton during the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 77.70% of the company’s stock.

HAL has been the subject of several analyst reports. AltaCorp Capital restated a “sector perform” rating on shares of Halliburton in a research report on Thursday, June 20th. Bank of America cut their target price on Halliburton from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Citigroup cut their target price on Halliburton from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Zacks Investment Research upgraded Halliburton from a “sell” rating to a “hold” rating and set a $20.00 price objective for the company in a research report on Wednesday, July 24th. Finally, Credit Suisse Group cut their price objective on Halliburton from $33.00 to $27.00 and set an “outperform” rating for the company in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $38.00.

In other news, Director William E. Albrecht bought 8,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was bought at an average price of $19.35 per share, for a total transaction of $154,800.00. Following the completion of the transaction, the director now directly owns 16,000 shares in the company, valued at approximately $309,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

Shares of HAL opened at $20.27 on Friday. The company has a market cap of $17.30 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 2.36 and a beta of 1.37. Halliburton has a 52-week low of $16.97 and a 52-week high of $42.57. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.59 and a current ratio of 2.26. The stock has a fifty day moving average price of $19.70 and a two-hundred day moving average price of $24.59.

Halliburton (NYSE:HAL) last released its earnings results on Monday, July 22nd. The oilfield services company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The company had revenue of $5.93 billion during the quarter, compared to the consensus estimate of $5.97 billion. Halliburton had a return on equity of 13.76% and a net margin of 5.58%. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.58 earnings per share. As a group, research analysts predict that Halliburton will post 1.32 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.55%. Halliburton’s payout ratio is currently 37.89%.

Halliburton Company Profile

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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