Vanguard Group Inc. Sells 786,461 Shares of Halliburton Company $HAL

Vanguard Group Inc. cut its stake in Halliburton Company (NYSE:HAL) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,577,138 shares of the oilfield services company’s stock after selling 786,461 shares during the quarter. Vanguard Group Inc. owned approximately 12.43% of Halliburton worth $2,572,598,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Parkside Financial Bank & Trust lifted its stake in Halliburton by 22.2% during the third quarter. Parkside Financial Bank & Trust now owns 2,369 shares of the oilfield services company’s stock worth $58,000 after purchasing an additional 431 shares during the last quarter. Profund Advisors LLC grew its holdings in Halliburton by 0.9% in the third quarter. Profund Advisors LLC now owns 51,508 shares of the oilfield services company’s stock worth $1,267,000 after purchasing an additional 463 shares during the period. SBI Securities Co. Ltd. increased its position in Halliburton by 7.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 7,374 shares of the oilfield services company’s stock valued at $150,000 after buying an additional 504 shares in the last quarter. Greenleaf Trust lifted its holdings in shares of Halliburton by 3.3% in the 3rd quarter. Greenleaf Trust now owns 16,390 shares of the oilfield services company’s stock worth $403,000 after purchasing an additional 519 shares in the last quarter. Finally, Hemington Wealth Management grew its position in Halliburton by 26.7% in the 3rd quarter. Hemington Wealth Management now owns 2,720 shares of the oilfield services company’s stock valued at $66,000 after purchasing an additional 573 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Van H. Beckwith sold 54,348 shares of Halliburton stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $34.96, for a total value of $1,900,006.08. Following the transaction, the executive vice president owned 344,535 shares of the company’s stock, valued at $12,044,943.60. The trade was a 13.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Margaret Katherine Banks sold 2,600 shares of the stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $34.17, for a total value of $88,842.00. Following the completion of the transaction, the director directly owned 14,043 shares in the company, valued at $479,849.31. This represents a 15.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 337,002 shares of company stock worth $11,445,938. Corporate insiders own 0.56% of the company’s stock.

Halliburton Stock Performance

Shares of Halliburton stock opened at $35.32 on Friday. The stock has a market cap of $29.58 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 2.07 and a beta of 0.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.04 and a quick ratio of 1.51. The firm’s 50-day moving average is $31.69 and its 200 day moving average is $26.88. Halliburton Company has a 1 year low of $18.72 and a 1 year high of $35.61.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Wednesday, January 21st. The oilfield services company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.14. Halliburton had a net margin of 5.78% and a return on equity of 19.77%. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the firm earned $0.73 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts anticipate that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 1.9%. Halliburton’s payout ratio is currently 45.03%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HAL shares. Piper Sandler raised their price target on shares of Halliburton from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Zephirin Group cut Halliburton from a “buy” rating to a “hold” rating and cut their target price for the company from $30.00 to $28.00 in a research report on Friday, January 23rd. TD Cowen upped their price target on Halliburton from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. UBS Group lifted their price objective on shares of Halliburton from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Finally, Susquehanna upped their target price on shares of Halliburton from $36.00 to $40.00 and gave the stock a “positive” rating in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.95.

Halliburton Company Profile

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.