Halliburton Company $HAL Shares Sold by Discerene Group LP

Discerene Group LP reduced its position in shares of Halliburton Company (NYSE:HAL) by 9.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 993,920 shares of the oilfield services company’s stock after selling 98,324 shares during the quarter. Halliburton accounts for approximately 4.1% of Discerene Group LP’s investment portfolio, making the stock its 7th biggest holding. Discerene Group LP’s holdings in Halliburton were worth $38,753,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of HAL. Nvest Wealth Strategies Inc. acquired a new stake in Halliburton in the fourth quarter valued at approximately $25,000. Zions Bancorporation National Association UT increased its position in shares of Halliburton by 196.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock valued at $28,000 after buying an additional 650 shares in the last quarter. Hoey Investments Inc. acquired a new position in shares of Halliburton during the 1st quarter worth approximately $39,000. Kelleher Financial Advisors purchased a new position in shares of Halliburton during the 3rd quarter valued at approximately $25,000. Finally, Raleigh Capital Management Inc. lifted its position in shares of Halliburton by 6,364.7% during the 1st quarter. Raleigh Capital Management Inc. now owns 1,099 shares of the oilfield services company’s stock valued at $43,000 after buying an additional 1,082 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Activity

In related news, EVP Van H. Beckwith sold 198,349 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $41.29, for a total transaction of $8,189,830.21. Following the transaction, the executive vice president directly owned 146,186 shares in the company, valued at approximately $6,036,019.94. The trade was a 57.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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, Director Tobi M. Young sold 6,125 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $41.72, for a total transaction of $255,535.00. Following the sale, the director directly owned 15,250 shares of the company’s stock, valued at approximately $636,230. This represents a 28.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 258,255 shares of company stock valued at $10,550,535 in the last ninety days. 0.57% of the stock is currently owned by corporate insiders.

Halliburton Stock Up 1.8%

NYSE HAL opened at $33.31 on Friday. The business has a fifty day moving average price of $36.94 and a 200 day moving average price of $36.45. Halliburton Company has a one year low of $20.39 and a one year high of $43.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 2.02. The company has a market cap of $27.83 billion, a P/E ratio of 17.44, a P/E/G ratio of 1.51 and a beta of 0.71.

Halliburton (NYSE:HAL) last announced its earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The company had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter in the previous year, the company posted $0.55 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Research analysts anticipate that Halliburton Company will post 2.36 EPS for the current fiscal year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, June 3rd. Halliburton’s dividend payout ratio (DPR) is currently 35.60%.

Analysts Set New Price Targets

HAL has been the subject of several recent analyst reports. Royal Bank Of Canada boosted their price target on shares of Halliburton from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Griffin Securities raised shares of Halliburton from a “neutral” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Wednesday, April 22nd. Capital One Financial lifted their target price on shares of Halliburton from $41.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Stifel Nicolaus reissued a “buy” rating and set a $43.00 target price (up from $36.00) on shares of Halliburton in a research note on Wednesday, April 22nd. Finally, Susquehanna reduced their price target on shares of Halliburton from $45.00 to $42.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. Eighteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.14.

Halliburton News Summary

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton reported Q2 revenue of $5.71 billion and EPS of $0.55, both modestly ahead of expectations, reinforcing that core business performance remains solid. Article title
• Positive Sentiment: The company won a new integrated field development contract with Basra Oil Company in Iraq, adding another large international project and expanding its presence in a key oil-producing region. Article title
• Positive Sentiment: Halliburton also secured additional development work in Kuwait, reinforcing the view that recent contract wins are improving its growth outlook and supporting its international business mix. Article title
• Neutral Sentiment: Several commentary pieces pointed to a stronger long-term outlook thanks to Halliburton’s technology edge and global contract pipeline, but also noted that geopolitical risk and uneven execution could limit near-term upside.
• Neutral Sentiment: TD Cowen reportedly lowered expectations for Halliburton, and other firms trimmed price targets, suggesting analysts remain cautious even as the stock benefits from new business wins.
• Negative Sentiment: Analyst target cuts and mixed sentiment may cap enthusiasm if investors worry that recent contract wins are not enough to quickly reaccelerate margins or earnings growth.

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.