Healthcare of Ontario Pension Plan Trust Fund raised its stake in Halliburton Company (NYSE:HAL – Free Report) by 12,413.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,163,259 shares of the oilfield services company’s stock after acquiring an additional 4,129,988 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.50% of Halliburton worth $162,325,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital Research Global Investors grew its holdings in shares of Halliburton by 21.1% in the 4th quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock worth $3,114,848,000 after purchasing an additional 19,190,520 shares during the last quarter. State Street Corp increased its position in shares of Halliburton by 1.7% during the 4th quarter. State Street Corp now owns 50,825,761 shares of the oilfield services company’s stock worth $1,436,336,000 after purchasing an additional 861,964 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Halliburton by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,097,164 shares of the oilfield services company’s stock valued at $878,806,000 after purchasing an additional 443,064 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Halliburton by 82,596.0% during 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 last quarter. Finally, Morgan Stanley boosted its position in Halliburton by 14.0% in the fourth quarter. Morgan Stanley now owns 15,806,168 shares of the oilfield services company’s stock valued at $446,682,000 after buying an additional 1,943,845 shares in the last quarter. 85.23% of the stock is owned by institutional investors.
Halliburton News Summary
Here are the key news stories impacting Halliburton this week:
- Positive Sentiment: Halliburton reported Q2 revenue of $5.71 billion and EPS of $0.55, both modestly ahead of expectations, reinforcing that core business performance remains solid. Article title
- Positive Sentiment: The company won a new integrated field development contract with Basra Oil Company in Iraq, adding another large international project and expanding its presence in a key oil-producing region. Article title
- Positive Sentiment: Halliburton also secured additional development work in Kuwait, reinforcing the view that recent contract wins are improving its growth outlook and supporting its international business mix. Article title
- Neutral Sentiment: Several commentary pieces pointed to a stronger long-term outlook thanks to Halliburton’s technology edge and global contract pipeline, but also noted that geopolitical risk and uneven execution could limit near-term upside.
- Neutral Sentiment: TD Cowen reportedly lowered expectations for Halliburton, and other firms trimmed price targets, suggesting analysts remain cautious even as the stock benefits from new business wins.
- Negative Sentiment: Analyst target cuts and mixed sentiment may cap enthusiasm if investors worry that recent contract wins are not enough to quickly reaccelerate margins or earnings growth.
Halliburton Trading Up 1.8%
Halliburton (NYSE:HAL – Get Free Report) 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. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The company had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. As a group, equities analysts anticipate that Halliburton Company will post 2.36 earnings per share for the current fiscal year.
Halliburton Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, June 3rd. Halliburton’s payout ratio is 35.60%.
Wall Street Analyst Weigh In
Several analysts have weighed in on the stock. Susquehanna decreased their price objective on shares of Halliburton from $45.00 to $42.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. HSBC lifted their target price on shares of Halliburton from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Piper Sandler raised 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. Evercore restated an “outperform” rating and set a $43.00 price target on shares of Halliburton in a research report on Wednesday. Finally, Capital One Financial raised their price target on Halliburton from $41.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.14.
View Our Latest Research Report on Halliburton
Insider Transactions at Halliburton
In other Halliburton news, Director Tobi M. Young sold 6,125 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $41.72, for a total transaction of $255,535.00. Following the transaction, the director owned 15,250 shares of the company’s stock, valued at approximately $636,230. This represents a 28.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Timothy Mckeon sold 8,655 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $42.00, for a total value of $363,510.00. Following the completion of the transaction, the vice president owned 72,976 shares in the company, valued at $3,064,992. The trade was a 10.60% 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. Insiders have sold a total of 258,255 shares of company stock worth $10,550,535 over the last ninety days. 0.57% of the stock is currently owned by insiders.
About Halliburton
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.
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