Halliburton (NYSE:HAL) CFO Eric Carre Sells 24,778 Shares of Stock

Halliburton Company (NYSE:HAL) CFO Eric Carre sold 24,778 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $35.89, for a total value of $889,282.42. Following the transaction, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at $5,330,382.80. This represents a 14.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Halliburton Stock Performance

HAL opened at $35.11 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 2.08 and a debt-to-equity ratio of 0.65. The stock’s 50 day moving average price is $39.61 and its two-hundred day moving average price is $35.51. The firm has a market capitalization of $29.33 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 1.51 and a beta of 0.70. Halliburton Company has a 12-month low of $20.09 and a 12-month high of $43.59.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. The company had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.37 billion. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 earnings per share. On average, equities analysts forecast that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, June 3rd. Halliburton’s dividend payout ratio is presently 37.36%.

Institutional Investors Weigh In On Halliburton

A number of institutional investors have recently added to or reduced their stakes in HAL. Capital Research Global Investors raised its holdings in shares of Halliburton by 81.8% in the 3rd quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company’s stock worth $2,239,349,000 after buying an additional 40,969,139 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Halliburton by 82,596.0% in 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 buying an additional 29,735,387 shares in the last quarter. Strive Asset Management LLC acquired a new stake in Halliburton in the 3rd quarter valued at $418,738,000. Norges Bank bought a new stake in Halliburton in the fourth quarter valued at $169,304,000. Finally, Holocene Advisors LP bought a new stake in Halliburton in the third quarter valued at $147,315,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HAL. Evercore raised their price target on shares of Halliburton from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Stifel Nicolaus reiterated a “buy” rating and issued a $43.00 target price (up from $36.00) on shares of Halliburton in a research note on Wednesday, April 22nd. The Goldman Sachs Group lifted their target price on Halliburton from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Barclays upgraded Halliburton from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $37.00 to $55.00 in a research note on Thursday, May 7th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $47.00 price target on shares of Halliburton in a report on Sunday, April 26th. Eighteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.27.

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.