Halliburton Company $HAL Position Increased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Halliburton Company (NYSE:HAL) by 332.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,875 shares of the oilfield services company’s stock after buying an additional 22,200 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Halliburton were worth $1,126,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of HAL. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Halliburton by 82,596.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock worth $841,339,000 after acquiring an additional 29,735,387 shares in the last quarter. Capital Research Global Investors raised its position in shares of Halliburton by 21.1% during the fourth quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock worth $3,114,848,000 after purchasing an additional 19,190,520 shares during the period. Norges Bank purchased a new stake in shares of Halliburton during the fourth quarter valued at $169,304,000. Canoe Financial LP purchased a new stake in shares of Halliburton during the first quarter valued at $158,525,000. Finally, AQR Capital Management LLC boosted its position in shares of Halliburton by 85.5% in the 2nd quarter. AQR Capital Management LLC now owns 8,610,870 shares of the oilfield services company’s stock valued at $175,490,000 after purchasing an additional 3,969,759 shares during the period. Institutional investors own 85.23% of the company’s stock.

Halliburton News Roundup

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton won a multiyear, multibillion-dollar contract from Saudi Aramco to provide integrated stimulation and completion services for a major unconventional gas development in Saudi Arabia, a significant revenue opportunity that reinforces demand for its core oilfield services. Aramco Awards Halliburton Long-Term Contract for Unconventional Gas Program
• Positive Sentiment: The company also secured a long-term drilling and completions contract for TotalEnergies’ GranMorgu offshore Suriname project, adding to expectations for stronger future backlog and international growth. Halliburton Wins Contract for TotalEnergies’ Offshore Suriname Project
• Positive Sentiment: Market commentary highlighted Halliburton as one of the oilfield-services names that still looks attractively valued after recent volatility, with higher oil prices and sector momentum potentially supporting sentiment. Fresh U.S.-Iran Conflicts Could Extend Energy Rally: 2 Bargains Remain
• Neutral Sentiment: Halliburton is also drawing attention from Ghana’s Petroleum Commission for support related to future oil workforce development, which is positive for the company’s regional relationships but not likely to move earnings near term. Petroleum Commission secures Halliburton support for Ghana’s future oil workforce
• Negative Sentiment: Bigger-picture energy-sector weakness and analyst warnings about near-term uncertainty in oilfield services are weighing on the group, limiting how far HAL can rally on the contract news alone. Oilfield Services Sector Faces Near-Term Uncertainty; Q2 Season to Be ‘Tricky,’ BofA Securities Says
• Negative Sentiment: Energy stocks were broadly weaker in Wednesday trading, creating a sector-level headwind for Halliburton despite its company-specific contract wins. Sector Update: Energy Stocks Fall Wednesday Afternoon

Halliburton Trading Down 0.4%

Shares of NYSE HAL opened at $35.27 on Thursday. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.65. Halliburton Company has a one year low of $20.17 and a one year high of $43.59. The business has a 50-day moving average price of $37.88 and a two-hundred day moving average price of $36.24. The firm has a market capitalization of $29.46 billion, a PE ratio of 19.38, a PEG ratio of 1.53 and a beta of 0.71.

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 for the quarter, compared to analyst estimates of $5.37 billion. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 EPS. As a group, analysts predict that Halliburton Company will post 2.35 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.9%. Halliburton’s dividend payout ratio (DPR) is currently 37.36%.

Insider Buying and Selling at Halliburton

In related news, CFO Eric Carre sold 24,778 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.89, for a total value of $889,282.42. Following the sale, the chief financial officer owned 148,520 shares of the company’s stock, valued at $5,330,382.80. The trade was a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Van H. Beckwith sold 198,349 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $41.29, for a total transaction of $8,189,830.21. Following the transaction, the executive vice president owned 146,186 shares of the company’s stock, valued at approximately $6,036,019.94. This represents a 57.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 258,255 shares of company stock worth $10,550,535 in the last ninety days. 0.57% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HAL. Capital One Financial lifted their price target on Halliburton from $41.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. UBS Group raised their target price on shares of Halliburton from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. HSBC raised their target price on shares of Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Piper Sandler upgraded shares of Halliburton from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $40.00 to $43.00 in a report on Tuesday. Finally, Evercore upped their price target on shares of Halliburton from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Nineteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.27.

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.