Engineers Gate Manager LP Acquires 735,984 Shares of Halliburton Company $HAL

Engineers Gate Manager LP raised its holdings in shares of Halliburton Company (NYSE:HAL) by 902.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 817,532 shares of the oilfield services company’s stock after buying an additional 735,984 shares during the period. Engineers Gate Manager LP’s holdings in Halliburton were worth $27,755,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Halliburton in the 2nd quarter valued at about $2,812,327,000. California State Teachers Retirement System grew its holdings in shares of Halliburton by 2,886.3% in the second quarter. California State Teachers Retirement System now owns 82,808,973 shares of the oilfield services company’s stock worth $2,811,365,000 after purchasing an additional 80,036,032 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Halliburton by 82,596.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock worth $841,339,000 after purchasing an additional 29,735,387 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Halliburton by 21.1% in the fourth quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock worth $3,114,848,000 after buying an additional 19,190,520 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Halliburton in the second quarter worth $345,941,000. 85.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on HAL. Piper Sandler raised shares of Halliburton from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $40.00 to $43.00 in a report on Tuesday, July 14th. BMO Capital Markets set a $37.00 price objective on shares of Halliburton in a research note on Wednesday, July 22nd. UBS Group dropped their target price on shares of Halliburton from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Citigroup raised their target price on Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Finally, TD Cowen reduced their price target on Halliburton from $48.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.10.

Insider Buying and Selling at Halliburton

In other news, CFO Eric Carre sold 24,778 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total value of $889,282.42. Following the sale, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at approximately $5,330,382.80. This represents a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jeffrey Slocum sold 52,572 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total value of $1,844,751.48. Following the transaction, the chief operating officer owned 118,730 shares of the company’s stock, valued at $4,166,235.70. The trade was a 30.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.57% of the company’s stock.

Halliburton Price Performance

Shares of NYSE HAL opened at $37.19 on Thursday. The company has a 50 day simple moving average of $34.27 and a two-hundred day simple moving average of $36.70. Halliburton Company has a fifty-two week low of $21.46 and a fifty-two week high of $43.59. The company has a market capitalization of $30.98 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 2.12 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.50 and a current ratio of 2.02.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The firm had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 EPS. Analysts expect that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, September 2nd. Halliburton’s payout ratio is 35.60%.

Halliburton Company Profile

Halliburton Company (NYSE: HAL) is a global provider of products and services for the energy industry. The company supports oil and natural gas exploration, development and production across the life cycle of a well, serving both independent and national oil companies.

Halliburton operates through two principal business segments: Completion and Production, which provides cementing, stimulation, intervention and completion services; and Drilling and Evaluation, which offers drilling services, formation evaluation, well construction, project management and related technologies.