New Wave Wealth Advisors LLC Acquires Shares of 13,774 Halliburton (NYSE:HAL)

New Wave Wealth Advisors LLC acquired a new stake in shares of Halliburton (NYSE:HAL) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,774 shares of the oilfield services company’s stock, valued at approximately $375,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC grew its holdings in Halliburton by 0.8% during the third quarter. Geode Capital Management LLC now owns 20,630,361 shares of the oilfield services company’s stock valued at $597,234,000 after purchasing an additional 172,505 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Halliburton by 10.4% in the fourth quarter. Pacer Advisors Inc. now owns 18,530,937 shares of the oilfield services company’s stock worth $503,856,000 after acquiring an additional 1,748,763 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Halliburton by 2.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,742,352 shares of the oilfield services company’s stock worth $166,815,000 after acquiring an additional 115,504 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Halliburton by 22.0% in the third quarter. Thrivent Financial for Lutherans now owns 5,520,383 shares of the oilfield services company’s stock worth $160,367,000 after acquiring an additional 995,649 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of Halliburton by 244.5% in the third quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company’s stock worth $138,025,000 after acquiring an additional 3,203,224 shares during the period. 85.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HAL. BMO Capital Markets cut their price target on Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Benchmark cut their price target on Halliburton from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Morgan Stanley lowered their price objective on Halliburton from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Jefferies Financial Group lowered their price objective on Halliburton from $43.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Finally, Bank of America lowered their price objective on Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.42.

Halliburton Price Performance

Shares of NYSE HAL opened at $26.51 on Friday. Halliburton has a twelve month low of $25.51 and a twelve month high of $41.56. The firm has a market cap of $23.28 billion, a P/E ratio of 9.37, a PEG ratio of 3.65 and a beta of 1.91. The company has a 50 day moving average of $28.47 and a 200 day moving average of $29.81. The company has a quick ratio of 1.54, a current ratio of 2.05 and a debt-to-equity ratio of 0.68.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Halliburton had a return on equity of 26.03% and a net margin of 10.90%. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.83 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. Halliburton’s revenue was down 1.8% on a year-over-year basis. As a group, research analysts expect that Halliburton will post 2.67 EPS for the current fiscal year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.17 per share. The ex-dividend date was Wednesday, December 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.57%. Halliburton’s dividend payout ratio is presently 24.03%.

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.