Insider Selling: Halliburton (NYSE:HAL) VP Sells 3,846 Shares of Stock

Halliburton Company (NYSE:HAL) VP Timothy Mckeon sold 3,846 shares of Halliburton stock in a transaction on Friday, March 6th. The shares were sold at an average price of $34.37, for a total transaction of $132,187.02. Following the completion of the sale, the vice president owned 81,631 shares in the company, valued at $2,805,657.47. The trade was a 4.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Halliburton Stock Up 1.7%

Shares of Halliburton stock traded up $0.58 during trading hours on Monday, reaching $34.63. 9,384,402 shares of the company’s stock were exchanged, compared to its average volume of 14,592,260. The stock has a market cap of $29.01 billion, a P/E ratio of 22.83, a P/E/G ratio of 2.03 and a beta of 0.73. The company has a 50 day moving average of $33.30 and a two-hundred day moving average of $28.05. The company has a current ratio of 2.04, a quick ratio of 1.51 and a debt-to-equity ratio of 0.68. Halliburton Company has a fifty-two week low of $18.72 and a fifty-two week high of $37.03.

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

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders 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 2.0%. Halliburton’s payout ratio is 45.03%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HAL. Weiss Ratings reissued a “hold (c-)” rating on shares of Halliburton in a research note on Monday, December 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $35.00 price target on shares of Halliburton in a research report on Wednesday, January 21st. The Goldman Sachs Group lifted their price objective on shares of Halliburton from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Piper Sandler boosted their price objective on shares of Halliburton from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Finally, Evercore upped their target price on shares of Halliburton from $35.00 to $36.00 and gave the company an “in-line” rating in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.38.

Institutional Investors Weigh In On Halliburton

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in shares of Halliburton by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 5,929,285 shares of the oilfield services company’s stock valued at $145,860,000 after purchasing an additional 96,394 shares during the period. Tejara Capital Ltd boosted its holdings in shares of Halliburton by 98.8% during the 3rd quarter. Tejara Capital Ltd now owns 134,365 shares of the oilfield services company’s stock worth $3,305,000 after buying an additional 66,765 shares during the period. Ritholtz Wealth Management bought a new stake in shares of Halliburton during the 3rd quarter worth about $1,775,000. New York State Common Retirement Fund grew its stake in Halliburton by 12.8% in the 3rd quarter. New York State Common Retirement Fund now owns 1,645,526 shares of the oilfield services company’s stock valued at $40,480,000 after buying an additional 186,105 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. bought a new position in Halliburton in the 3rd quarter valued at about $1,010,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

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.