Resona Asset Management Co. Ltd. Has $7.35 Million Stake in Halliburton Company $HAL

Resona Asset Management Co. Ltd. decreased its position in Halliburton Company (NYSE:HAL) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 260,147 shares of the oilfield services company’s stock after selling 19,003 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Halliburton were worth $7,347,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Research Global Investors raised its stake in shares of Halliburton by 81.8% in the 3rd quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company’s stock valued at $2,239,349,000 after purchasing an additional 40,969,139 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Halliburton by 82,596.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after purchasing an additional 29,735,387 shares during the period. Sanders Capital LLC raised its stake in shares of Halliburton by 9.4% in the 3rd quarter. Sanders Capital LLC now owns 26,004,682 shares of the oilfield services company’s stock valued at $639,715,000 after purchasing an additional 2,238,983 shares during the period. Strive Asset Management LLC acquired a new stake in shares of Halliburton in the 3rd quarter valued at about $418,738,000. Finally, AQR Capital Management LLC raised its stake 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 and hedge funds own 85.23% of the company’s stock.

Halliburton Trading Down 0.6%

Shares of NYSE:HAL opened at $42.03 on Friday. Halliburton Company has a 12-month low of $19.38 and a 12-month high of $43.59. The stock has a market cap of $35.11 billion, a PE ratio of 23.09, a P/E/G ratio of 1.85 and a beta of 0.73. The business has a 50 day moving average of $38.88 and a 200-day moving average of $33.60. The company has a quick ratio of 1.54, a current ratio of 2.08 and a debt-to-equity ratio of 0.65.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The company had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The business’s revenue was down .3% on a year-over-year basis. As a group, equities research analysts forecast that Halliburton Company will post 2.32 earnings per share for the current year.

Insider Activity at Halliburton

In other news, EVP Van H. Beckwith sold 198,349 shares of Halliburton stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $41.29, for a total value of $8,189,830.21. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Tobi M. Young sold 6,125 shares of Halliburton stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $41.72, for a total transaction of $255,535.00. Following the completion of the sale, the director owned 15,250 shares of the company’s stock, valued at approximately $636,230. The trade was a 28.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 420,837 shares of company stock valued at $16,979,135. Insiders own 0.57% of the company’s stock.

Halliburton News Roundup

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton declared a quarterly dividend of $0.17 per share, reinforcing its shareholder-return story and signaling confidence in cash generation. Halliburton Announces Dividend
• Positive Sentiment: Capital One raised its price target on Halliburton to $50 from $41 and reiterated an overweight rating, suggesting upside from current levels. Capital One adjusts price target on Halliburton
• Positive Sentiment: Halliburton unveiled its Xaminer Deep Testing service, a new reservoir evaluation tool that could support future product demand and strengthen its technology offering. HAL Unveils Next-Generation Solution for Challenging Reservoirs
• Positive Sentiment: Recent commentary noted HAL is up about 8.2% since its last earnings report, reflecting improved sentiment after results that beat expectations. Halliburton (HAL) Up 8.2% Since Last Earnings Report: Can It Continue?
• Neutral Sentiment: Halliburton shareholders approved the board, auditor, and compensation plans at the annual meeting, which removes some governance uncertainty but is unlikely to move the stock by itself. Halliburton Shareholders Back Board, Auditor and Compensation Plans
• Neutral Sentiment: News that Halliburton CEO Jeff Miller will join Noble Corporation’s board is more of an industry-side development than a direct catalyst for HAL shares. Noble Corporation plc Announces New Director Appointment

Wall Street Analyst Weigh In

Several research firms have issued reports on HAL. The Goldman Sachs Group lifted their price target on Halliburton from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. TD Cowen lifted their price target on Halliburton from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Rothschild & Co Redburn lifted their price target on Halliburton from $40.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Piper Sandler lifted their price target on Halliburton from $34.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Finally, Morgan Stanley lifted their price target on Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Eighteen 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. Based on data from MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and an average price target of $42.86.

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.