Perigon Wealth Management LLC Acquires 6,572 Shares in Halliburton

In a strategic investment move, Perigon Wealth Management LLC has initiated a position in Halliburton (NYSE:HAL) by purchasing 6,572 shares. This transaction took place during the third quarter and was reported in the latest Form 13F filing with the SEC. The new stake in the oilfield services giant is valued at an estimated $266,000.

Other Investors in Halliburton

This investment by Perigon is among several transactions by major funds. Capital World Investors increased its Halliburton holdings by 47.1% in the second quarter, now owning 114,407,642 shares with a massive value of over $3.77 billion. Norges Bank opened a new position in the fourth quarter valued close to $457 million. Furthermore, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main and Morgan Stanley significantly raised their investments in Halliburton in the fourth quarter, with their shares valued at $627 million and $677 million respectively. Thrivent Financial for Lutherans also hiked its ownership by 140.4% in the first quarter. Collectively, institutional investors and hedge funds own around 82.09% of Halliburton's stock.

Halliburton's Market Performance

Halliburton's stock has shown variability, with a 52-week low of $27.84 and a high of $43.85. As of the last trading session, the stock opened at $33.49. The company maintains a market capitalization of $29.98 billion, trades with a price-to-earnings (PE) ratio of 11.51, and has demonstrated stability with a PEG ratio of 0.53 and a beta of 2.02.

Financial Highlights

Halliburton announced earnings of $0.79 per share for the quarter, slightly better than the expected $0.77 consensus. Quarterly revenue stood at $5.80 billion, which narrowly missed the predicted $5.85 billion. Still, the company has experienced an 8.3% revenue growth year-over-year. Analysts project an EPS of 3.07 for the current fiscal year. Halliburton also maintains a solid dividend record, with a recent payment of $0.16 per share.

Analyst Opinions and Insider Movements

Various analyst firms have offered updates on Halliburton's stock, with price targets ranging and averaging at $48.88. These evaluations suggest a general optimistic outlook with ratings leaning towards buy and strong buy positions. Additionally, Van H. Beckwith, an executive at Halliburton, sold 5,000 shares, disclosing the transaction in a legal filing with the SEC. Despite insider sales, overall insider ownership remains at 0.60%.

About Halliburton

Halliburton serves the global energy sector with a broad array of products and services. It operates through two main segments: Completion and Production, and Drilling and Evaluation, providing innovative solutions such as stimulation, cementing, completion tools, and pipeline and process services.

Wealth, Investment, Shares