Traders Buy Halliburton (HAL) on Weakness Following Insider Selling

Traders bought shares of Halliburton Company (NYSE:HAL) on weakness during trading hours on Wednesday following insider selling activity. $82.54 million flowed into the stock on the tick-up and $40.49 million flowed out of the stock on the tick-down, for a money net flow of $42.05 million into the stock. Of all companies tracked, Halliburton had the 16th highest net in-flow for the day. Halliburton traded down ($0.07) for the day and closed at $43.38Specifically, Chairman David J. Lesar sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $43.70, for a total value of $2,185,000.00. Following the completion of the sale, the chairman now directly owns 490,143 shares in the company, valued at $21,419,249.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lawrence J. Pope sold 9,100 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $41.35, for a total transaction of $376,285.00. Following the completion of the sale, the executive vice president now owns 180,646 shares of the company’s stock, valued at $7,469,712.10. The disclosure for this sale can be found here. Insiders sold 88,585 shares of company stock valued at $3,858,920 over the last 90 days. 0.47% of the stock is currently owned by company insiders.

Several analysts have commented on the stock. TheStreet upgraded shares of Halliburton from a “d+” rating to a “c-” rating in a report on Friday, September 29th. B. Riley restated a “buy” rating on shares of Halliburton in a report on Wednesday, November 1st. FBR & Co lowered their target price on shares of Halliburton from $61.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, October 24th. ValuEngine upgraded shares of Halliburton from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Cowen reiterated a “market perform” rating and set a $50.00 target price on shares of Halliburton in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Halliburton currently has a consensus rating of “Buy” and an average target price of $57.55.

The stock has a market cap of $38,295.82, a PE ratio of 60.12, a price-to-earnings-growth ratio of 4.74 and a beta of 1.03. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.67 and a current ratio of 2.20.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, October 23rd. The oilfield services company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.04. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.35 billion. Halliburton had a net margin of 1.13% and a return on equity of 6.93%. The firm’s quarterly revenue was up 42.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 earnings per share. equities research analysts predict that Halliburton Company will post 1.16 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Wednesday, December 6th. Halliburton’s dividend payout ratio (DPR) is presently 300.01%.

A number of large investors have recently bought and sold shares of the business. AXA grew its position in Halliburton by 3.8% in the 3rd quarter. AXA now owns 294,183 shares of the oilfield services company’s stock worth $13,541,000 after purchasing an additional 10,675 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in Halliburton in the 3rd quarter worth approximately $1,932,000. Public Employees Retirement System of Ohio grew its position in Halliburton by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 601,059 shares of the oilfield services company’s stock worth $27,667,000 after purchasing an additional 2,800 shares during the period. Tortoise Capital Advisors L.L.C. grew its position in Halliburton by 4.3% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 94,773 shares of the oilfield services company’s stock worth $4,362,000 after purchasing an additional 3,866 shares during the period. Finally, Moors & Cabot Inc. grew its position in Halliburton by 6.3% in the 3rd quarter. Moors & Cabot Inc. now owns 30,845 shares of the oilfield services company’s stock worth $1,420,000 after purchasing an additional 1,827 shares during the period. 79.95% of the stock is owned by institutional investors and hedge funds.

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About Halliburton

Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.

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