Halliburton Company $HAL Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC lessened its position in Halliburton Company (NYSE:HAL) by 59.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 269,500 shares of the oilfield services company’s stock after selling 388,400 shares during the period. Calamos Advisors LLC’s holdings in Halliburton were worth $10,508,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its holdings in 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 acquiring an additional 29,735,387 shares during the period. Capital Research Global Investors raised its position in Halliburton by 21.1% in the fourth quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock worth $3,114,848,000 after acquiring an additional 19,190,520 shares in the last quarter. Norges Bank bought a new stake in Halliburton in the fourth quarter worth about $169,304,000. Canoe Financial LP acquired a new stake in Halliburton in the 1st quarter valued at about $158,525,000. Finally, AQR Capital Management LLC lifted its holdings in Halliburton by 85.5% in 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 during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Trading Up 0.7%

Shares of NYSE:HAL opened at $35.46 on Wednesday. The firm has a fifty day moving average of $37.98 and a two-hundred day moving average of $36.18. 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 Company has a 12-month low of $20.17 and a 12-month high of $43.59. The firm has a market capitalization of $29.62 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 1.52 and a beta of 0.71.

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

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd were paid a $0.17 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.9%. Halliburton’s payout ratio is 37.36%.

Analyst Upgrades and Downgrades

HAL has been the topic of several recent research reports. Argus lifted their price objective on shares of Halliburton from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Barclays raised shares of Halliburton from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $37.00 to $55.00 in a research note on Thursday, May 7th. Rothschild & Co Redburn raised their target price on shares of Halliburton from $40.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, May 15th. BMO Capital Markets lifted their price target on shares of Halliburton from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Halliburton in a report on Wednesday, July 8th. Nineteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Halliburton currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.32.

Key Stories Impacting Halliburton

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton won major integrated drilling and completions work from TotalEnergies for the GranMorgu deepwater project offshore Suriname, a long-term contract that adds to future revenue visibility and highlights demand for its higher-value oilfield services. Halliburton Wins Integrated Drilling and Completions Contracts for Granmorgu Deepwater Project Offshore Suriname, Operated by Totalenergies
• Positive Sentiment: Rising geopolitical tension between the U.S. and Iran has pushed oil prices higher, which tends to support upstream spending and sentiment toward oilfield services names like HAL. Fresh U.S.-Iran Conflicts Could Extend Energy Rally: 2 Bargains Remain
• Positive Sentiment: Piper Sandler reportedly raised its view on Halliburton alongside Patterson-UTI, suggesting analysts see continued upside after a volatile year-to-date move. Halliburton, Patterson-UTI Raised at Piper Sandler Following Volatile YTD
• Neutral Sentiment: Several recent headlines reiterated that Halliburton is scheduled to report earnings soon, keeping the stock in focus ahead of the print. Halliburton (HAL) Projected to Post Earnings on Tuesday

Insider Buying and Selling

In other news, EVP Van H. Beckwith sold 198,349 shares of Halliburton stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $41.29, for a total transaction of $8,189,830.21. Following the completion of the sale, the executive vice president directly owned 146,186 shares in the company, valued at $6,036,019.94. The trade was a 57.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $35.89, for a total value of $889,282.42. Following the completion of the sale, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at approximately $5,330,382.80. The trade was a 14.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 258,255 shares of company stock worth $10,550,535. Insiders own 0.57% of the company’s stock.

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.