Guinness Asset Management LTD lifted its stake in shares of Halliburton Company (NYSE:HAL – Free Report) by 16.2% in the fourth quarter, Holdings Channel reports. The firm owned 244,748 shares of the oilfield services company’s stock after buying an additional 34,202 shares during the period. Guinness Asset Management LTD’s holdings in Halliburton were worth $6,890,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of HAL. Capital Research Global Investors increased its stake 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 worth $2,239,349,000 after purchasing an additional 40,969,139 shares in 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 worth $841,339,000 after purchasing an additional 29,735,387 shares in the last quarter. Strive Asset Management LLC purchased a new stake in Halliburton during the 3rd quarter valued at about $418,738,000. Holocene Advisors LP purchased a new stake in Halliburton during the 3rd quarter valued at about $147,315,000. Finally, AQR Capital Management LLC grew its stake in Halliburton by 85.5% during the 2nd quarter. AQR Capital Management LLC now owns 8,610,870 shares of the oilfield services company’s stock valued at $175,490,000 after acquiring an additional 3,969,759 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.
Halliburton News Summary
Here are the key news stories impacting Halliburton this week:
- Positive Sentiment: Halliburton announced a quarterly dividend of $0.17 per share, signaling continued capital returns to shareholders and reinforcing management’s confidence in cash generation. Halliburton Announces Dividend
- Positive Sentiment: CEO Jeff Miller joining Noble Corporation’s board may be seen as a vote of confidence in Halliburton’s leadership and industry standing, while also highlighting Miller’s influence across the offshore drilling sector. Noble Corporation plc Announces New Director Appointment
- Neutral Sentiment: Articles focused on Halliburton’s Russell 1000 filing and broader market commentary are drawing fresh attention to the name, but they do not appear to change the company’s fundamentals on their own. Halliburton Russell 1000 Filing Raises Fresh Focus
- Neutral Sentiment: Recent notes from analysts and market outlets highlight that HAL has been up since its last earnings report, suggesting investor sentiment remains constructive after the company beat quarterly EPS estimates and slightly topped revenue expectations. Halliburton (HAL) Up 8.2% Since Last Earnings Report: Can It Continue?
Halliburton Stock Performance
Halliburton (NYSE:HAL – Get Free Report) last posted its earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.05. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.37 billion. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. Halliburton’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 EPS. Analysts forecast that Halliburton Company will post 2.34 EPS for the current year.
Halliburton Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, June 3rd. Halliburton’s payout ratio is presently 37.36%.
Insider Buying and Selling
In other Halliburton news, CEO Jeffrey Allen Miller sold 158,455 shares of the business’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $40.00, for a total value of $6,338,200.00. Following the transaction, the chief executive officer directly owned 1,013,027 shares in the company, valued at $40,521,080. The trade was a 13.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Tobi M. Young sold 6,125 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $41.72, for a total transaction of $255,535.00. Following the completion of the transaction, the director owned 15,250 shares in the company, valued at $636,230. The trade was a 28.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 420,837 shares of company stock worth $16,979,135 over the last ninety days. 0.57% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
HAL has been the subject of several research reports. Capital One Financial upped their price objective on shares of Halliburton from $41.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and set a $47.00 price objective on shares of Halliburton in a research note on Sunday, April 26th. Morgan Stanley upped their price objective on shares of Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group upped their price objective on shares of Halliburton from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $43.00 price objective (up from $36.00) on shares of Halliburton in a research note on Wednesday, April 22nd. Eighteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.86.
Check Out Our Latest Report on Halliburton
Halliburton Company 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.
See Also
- Five stocks we like better than Halliburton
- MarketBeat Week in Review – 05/18 – 05/22
- SpaceX IPO: Opportunity? Or the Ultimate Hype Trade?
- CAVA Group’s Stock Looks Delicious After Strong Earnings
- Lowe’s Finds Support at $215 After Q1 Earnings Sell-Off
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.
