Insider Selling: Halliburton Company (HAL) EVP Sells 43,000 Shares of Stock
Halliburton Company (NYSE:HAL) EVP Lawrence J. Pope sold 43,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total transaction of $1,705,380.00. The sale was disclosed in a filing with the SEC, which is available at this link.
Halliburton Company (HAL) traded up 2.96% during trading on Wednesday, hitting $41.01. The stock had a trading volume of 14,239,062 shares. The stock’s market capitalization is $35.74 billion. The stock’s 50-day moving average is $40.99 and its 200-day moving average is $45.60. Halliburton Company has a 52-week low of $38.18 and a 52-week high of $58.78.
Halliburton (NYSE:HAL) last issued its quarterly earnings data on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The company had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter last year, the company earned ($0.14) earnings per share. The firm’s revenue for the quarter was up 29.3% compared to the same quarter last year. On average, analysts predict that Halliburton Company will post $1.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Friday, September 1st. Halliburton’s payout ratio is currently -423.50%.
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A number of institutional investors have recently added to or reduced their stakes in the business. Sentry Investment Management LLC raised its stake in Halliburton by 102.3% in the second quarter. Sentry Investment Management LLC now owns 69,683 shares of the oilfield services company’s stock valued at $2,976,000 after buying an additional 35,245 shares during the last quarter. Toronto Dominion Bank raised its stake in Halliburton by 5.8% in the second quarter. Toronto Dominion Bank now owns 743,458 shares of the oilfield services company’s stock valued at $31,750,000 after buying an additional 40,928 shares during the last quarter. Cetera Investment Advisers purchased a new stake in Halliburton in the second quarter valued at about $435,000. Afam Capital Inc. raised its stake in Halliburton by 3.7% in the second quarter. Afam Capital Inc. now owns 74,240 shares of the oilfield services company’s stock valued at $3,171,000 after buying an additional 2,623 shares during the last quarter. Finally, Beaton Management Co. Inc. purchased a new stake in Halliburton in the second quarter valued at about $214,000. Institutional investors own 79.53% of the company’s stock.
A number of research analysts have commented on HAL shares. UBS AG reiterated a “buy” rating and set a $70.00 price target on shares of Halliburton in a research report on Monday, May 15th. Jefferies Group LLC reiterated a “buy” rating and set a $69.00 price target on shares of Halliburton in a research report on Friday, May 26th. Credit Suisse Group set a $60.00 target price on shares of Halliburton and gave the stock a “buy” rating in a report on Monday, June 5th. Seaport Global Securities cut shares of Halliburton from a “buy” rating to a “neutral” rating and cut their target price for the stock from $63.00 to $43.00 in a report on Wednesday, June 21st. Finally, Morgan Stanley restated an “overweight” rating and issued a $60.00 target price (down previously from $67.00) on shares of Halliburton in a report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $58.74.
Halliburton Company Profile
Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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