Public Employees Retirement System of Ohio raised its holdings in Halliburton Company (NYSE:HAL – Free Report) by 59.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 402,064 shares of the oilfield services company’s stock after purchasing an additional 149,452 shares during the period. Public Employees Retirement System of Ohio’s holdings in Halliburton were worth $15,676,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the business. Nvest Wealth Strategies Inc. acquired a new position in shares of Halliburton during the 4th quarter worth approximately $25,000. Kelleher Financial Advisors purchased a new stake in Halliburton in the 3rd quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. acquired a new stake in Halliburton during the 2nd quarter valued at $25,000. Zions Bancorporation National Association UT grew its holdings in Halliburton by 196.4% during 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 purchased a new position in Halliburton during the third quarter worth $31,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the company. Freedom Capital raised Halliburton from a “strong sell” rating to a “hold” rating in a report on Wednesday. Barclays decreased their price objective on Halliburton from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday. Citigroup lifted their price objective on Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Zephirin Group boosted their target price on shares of Halliburton from $30.00 to $31.00 and gave the company a “sell” rating in a research note on Wednesday, April 22nd. Finally, Jefferies Financial Group restated a “buy” rating and issued a $47.00 target price on shares of Halliburton in a report on Sunday, April 26th. Eighteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Halliburton currently has an average rating of “Moderate Buy” and an average price target of $43.14.
Halliburton Stock Performance
Shares of HAL stock opened at $33.31 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $27.83 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 1.54 and a beta of 0.71. Halliburton Company has a 1-year low of $20.39 and a 1-year high of $43.59. The stock’s fifty day simple moving average is $36.94 and its 200-day simple moving average is $36.45.
Halliburton (NYSE:HAL – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates 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 in the prior year, the business posted $0.55 EPS. On average, sell-side analysts predict that Halliburton Company will post 2.35 earnings per share for the current fiscal year.
Halliburton Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, June 3rd. Halliburton’s dividend payout ratio is presently 35.60%.
Key Stories Impacting Halliburton
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.
Insider Activity
In other Halliburton news, Director Tobi M. Young sold 6,125 shares of the firm’s stock in a transaction dated 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 directly owned 15,250 shares in the company, valued at $636,230. This trade represents a 28.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Timothy Mckeon sold 8,655 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $42.00, for a total value of $363,510.00. Following the completion of the sale, the vice president directly owned 72,976 shares of the company’s stock, valued at $3,064,992. This represents a 10.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 258,255 shares of company stock valued at $10,550,535. Corporate insiders own 0.57% of the company’s stock.
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.
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