Norges Bank purchased a new stake in shares of Halliburton Company (NYSE:HAL – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,990,925 shares of the oilfield services company’s stock, valued at approximately $169,304,000.
A number of other hedge funds also recently made changes to their positions in HAL. Capital Research Global Investors raised its holdings in shares of Halliburton by 81.8% during the third 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 buying an additional 40,969,139 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Halliburton by 82,596.0% during the fourth 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 acquiring an additional 29,735,387 shares during the period. Strive Asset Management LLC bought a new stake in Halliburton during the third quarter worth approximately $418,738,000. Holocene Advisors LP bought a new stake in Halliburton during the third quarter worth approximately $147,315,000. Finally, AQR Capital Management LLC raised its holdings in Halliburton by 85.5% during the second quarter. AQR Capital Management LLC now owns 8,610,870 shares of the oilfield services company’s stock worth $175,490,000 after purchasing an additional 3,969,759 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.
Halliburton Trading Up 2.4%
Halliburton stock opened at $41.09 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08. The firm has a market cap of $34.33 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 1.74 and a beta of 0.69. Halliburton Company has a 1 year low of $19.84 and a 1 year high of $43.59. The firm’s 50 day moving average price is $39.70 and its two-hundred day moving average price is $34.42.
Halliburton Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd will be given a $0.17 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $0.68 annualized dividend and a yield of 1.7%. Halliburton’s payout ratio is 37.36%.
Analyst Ratings Changes
Several brokerages recently commented on HAL. The Goldman Sachs Group boosted their target price on Halliburton from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. TD Cowen boosted their target price on Halliburton from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Susquehanna boosted their target price on Halliburton from $40.00 to $45.00 and gave the stock a “positive” rating in a report on Tuesday, April 7th. Morgan Stanley boosted their target price on Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $43.00 target price (up from $36.00) on shares of Halliburton in a report on Wednesday, April 22nd. Eighteen investment analysts have rated the stock with a Buy rating, five 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 an average target price of $43.27.
Get Our Latest Stock Analysis on Halliburton
Insider Transactions at Halliburton
In other Halliburton news, 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 value of $255,535.00. Following the transaction, the director owned 15,250 shares in the company, valued at approximately $636,230. The trade was a 28.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Allen Miller sold 158,455 shares of Halliburton stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $40.00, for a total transaction of $6,338,200.00. Following the completion of the transaction, the chief executive officer owned 1,013,027 shares in the company, valued at approximately $40,521,080. This trade represents a 13.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 420,837 shares of company stock valued at $16,979,135 in the last 90 days. 0.57% of the stock is owned by corporate insiders.
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.
Read More
- Five stocks we like better than Halliburton
- Coke’s $10B India IPO Plan Pops the Top on Hidden Value
- FedEx Unboxes Billions in Post-Spinoff Value
- Marvell’s AI Moment Raises a Bigger Question for Amazon and ServiceNow
- Palo Alto Networks Accelerates Growth 31% on AI Demand
Want to see what other hedge funds are holding HAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Halliburton Company (NYSE:HAL – Free Report).
Receive News & Ratings for Halliburton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halliburton and related companies with MarketBeat.com's FREE daily email newsletter.
