Quantum Portfolio Management LLC acquired a new position in Halliburton Company (NYSE:HAL – Free Report) in the first quarter, HoldingsChannel reports. The institutional investor acquired 19,639 shares of the oilfield services company’s stock, valued at approximately $766,000.
A number of other large investors also recently modified their holdings of the company. Contravisory Investment Management Inc. bought a new position in shares of Halliburton in the fourth quarter worth about $1,054,000. QV Investors Inc. bought a new stake in Halliburton during the 4th quarter valued at approximately $3,195,000. Sanders Capital LLC lifted its holdings in Halliburton by 9.4% in the 3rd quarter. Sanders Capital LLC now owns 26,004,682 shares of the oilfield services company’s stock worth $639,715,000 after purchasing an additional 2,238,983 shares in the last quarter. ABN Amro Investment Solutions bought a new position in Halliburton in the 4th quarter worth approximately $827,000. Finally, Swiss Life Asset Management Ltd boosted its stake in Halliburton by 22.0% in the 4th quarter. Swiss Life Asset Management Ltd now owns 373,949 shares of the oilfield services company’s stock worth $10,568,000 after purchasing an additional 67,369 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.
Halliburton Price Performance
HAL stock opened at $34.92 on Thursday. Halliburton Company has a 52 week low of $20.17 and a 52 week high of $43.59. The firm has a market capitalization of $29.17 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 1.46 and a beta of 0.71. The company has a fifty day simple moving average of $38.53 and a two-hundred day simple moving average of $35.99. The company has a quick ratio of 1.54, a current ratio of 2.08 and a debt-to-equity ratio of 0.65.
Halliburton Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, June 3rd. Halliburton’s dividend payout ratio (DPR) is presently 37.36%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on HAL shares. Wolfe Research assumed coverage on shares of Halliburton in a research report on Wednesday. They set a “peer perform” rating on the stock. Rothschild & Co Redburn raised their target price on shares of Halliburton from $40.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Jefferies Financial Group reiterated a “buy” rating and issued a $47.00 price target on shares of Halliburton in a research note on Sunday, April 26th. JPMorgan Chase & Co. increased their price objective on shares of Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Finally, TD Cowen raised their price objective on Halliburton from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.18.
Check Out Our Latest Stock Report on Halliburton
Insider Transactions at Halliburton
In other news, Director Tobi M. Young sold 6,125 shares of Halliburton stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $41.72, for a total value of $255,535.00. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Timothy Mckeon sold 8,655 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president directly owned 72,976 shares in the company, valued at approximately $3,064,992. This represents a 10.60% decrease in their position. 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. In the last quarter, insiders have sold 258,255 shares of company stock worth $10,550,535. 0.57% of the stock is currently owned by corporate insiders.
More Halliburton News
Here are the key news stories impacting Halliburton this week:
- Positive Sentiment: Halliburton landed an integrated contract to develop the Bin Umar and Sindbad oil fields in Iraq, a deal that may increase oil and gas output and strengthen its international growth story. Halliburton Lands Key Iraq Oilfield Deal to Boost Production
- Positive Sentiment: Options activity spiked, with call volume running well above normal, which often signals rising trader confidence and speculation on further gains.
- Positive Sentiment: Susquehanna kept a positive view on HAL even while trimming its price target to $42, implying analysts still see meaningful upside from current levels.
- Neutral Sentiment: UBS raised its price target but maintained a Neutral rating, reflecting some valuation support without a stronger bullish call. UBS Lifts Price Target on Halliburton (HAL), Reaffirms Neutral Rating
- Neutral Sentiment: Wolfe Research initiated coverage with a Peer Perform rating, signaling a wait-and-see stance on Halliburton’s near-term outlook. Wolfe Research bullish on SLB and BKR, sees selective oil services cycle ahead
- Negative Sentiment: RBC Capital’s new Buy recommendation is supportive, but broader analyst coverage remains mixed, which may limit how much the stock can rally on sentiment alone. Halliburton (HAL) Gets a Buy from RBC Capital
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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