Intech Investment Management LLC Reduces Holdings in Halliburton Company $HAL

Intech Investment Management LLC trimmed its position in shares of Halliburton Company (NYSE:HAL) by 28.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,066 shares of the oilfield services company’s stock after selling 23,502 shares during the quarter. Intech Investment Management LLC’s holdings in Halliburton were worth $1,669,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nvest Wealth Strategies Inc. purchased a new position in Halliburton during the fourth quarter worth $25,000. Kelleher Financial Advisors purchased a new stake in shares of Halliburton during the third quarter valued at $25,000. GoalVest Advisory LLC purchased a new stake in shares of Halliburton during the fourth quarter valued at $35,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Halliburton during the second quarter valued at $25,000. Finally, Strive Asset Management LLC purchased a new stake in shares of Halliburton during the third quarter valued at $31,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HAL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Citigroup boosted their target price on shares of Halliburton from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday. Susquehanna boosted their target price on shares of Halliburton from $40.00 to $45.00 and gave the company a “positive” rating in a research note on Tuesday, April 7th. Morgan Stanley boosted their target price on shares of Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Finally, Piper Sandler boosted their target price on shares of Halliburton from $34.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Eighteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $43.27.

Halliburton Stock Performance

HAL stock opened at $41.23 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54. The business has a 50-day moving average price of $39.76 and a 200 day moving average price of $34.52. The company has a market capitalization of $34.45 billion, a P/E ratio of 22.66, a PEG ratio of 1.77 and a beta of 0.69. Halliburton Company has a 1-year low of $19.90 and a 1-year high of $43.59.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.05. The firm had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.37 billion. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. As a group, equities research analysts forecast that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Wednesday, June 3rd. Halliburton’s payout ratio is presently 37.36%.

Insider Transactions at Halliburton

In other Halliburton news, insider Michael Casey Maxwell sold 20,348 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $41.89, for a total value of $852,377.72. Following the completion of the transaction, the insider directly owned 93,763 shares in the company, valued at approximately $3,927,732.07. The trade was a 17.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeffrey Allen Miller sold 158,455 shares of the business’s stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $40.00, for a total transaction of $6,338,200.00. Following the completion of the transaction, the chief executive officer owned 1,013,027 shares of the company’s stock, valued at $40,521,080. This represents a 13.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 416,991 shares of company stock valued at $16,846,948 over the last three months. 0.57% of the stock is currently owned by corporate insiders.

About Halliburton

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.