California State Teachers Retirement System Has $108.12 Million Stock Position in Halliburton Company $HAL

California State Teachers Retirement System cut its stake in shares of Halliburton Company (NYSE:HAL) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,772,941 shares of the oilfield services company’s stock after selling 59,568 shares during the period. California State Teachers Retirement System owned about 0.33% of Halliburton worth $108,117,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nvest Wealth Strategies Inc. bought a new position in Halliburton in the fourth quarter valued at about $25,000. Kelleher Financial Advisors bought a new stake in shares of Halliburton during the third quarter worth about $25,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Halliburton in the second quarter valued at approximately $25,000. Zions Bancorporation National Association UT raised its holdings in Halliburton by 196.4% in the 4th 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 during the last quarter. Finally, Strive Asset Management LLC bought a new position in Halliburton in the 3rd quarter valued at approximately $31,000. 85.23% of the stock is currently owned by institutional investors.

Halliburton Trading Down 0.1%

NYSE:HAL opened at $31.19 on Thursday. Halliburton Company has a 52 week low of $20.39 and a 52 week high of $43.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.50 and a current ratio of 2.02. The firm’s fifty day moving average is $36.27 and its 200-day moving average is $36.49. The firm has a market cap of $25.98 billion, a P/E ratio of 16.33, a P/E/G ratio of 1.95 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 for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.50 billion. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. Halliburton’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 earnings per share. Equities analysts expect that Halliburton Company will post 2.35 earnings per share for the current year.

Halliburton Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 2.2%. Halliburton’s dividend payout ratio (DPR) is 35.60%.

Insider Transactions at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 198,349 shares of Halliburton stock in a transaction that occurred on Friday, May 15th. The stock was 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Casey Maxwell sold 20,348 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $41.89, for a total value of $852,377.72. Following the completion of the transaction, the insider directly owned 93,763 shares in the company, valued at approximately $3,927,732.07. This trade represents a 17.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 243,475 shares of company stock valued at $9,931,490. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Piper Sandler raised shares of Halliburton from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $43.00 in a report on Tuesday, July 14th. Morgan Stanley dropped their price target on shares of Halliburton from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. Capital One Financial lifted their price target on shares of Halliburton from $41.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. boosted their price objective on shares of Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Finally, Citigroup increased their price objective on Halliburton from $47.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.10.

Halliburton 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.