Halliburton Company $HAL Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of Halliburton Company (NYSE:HAL) by 8.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,008,985 shares of the oilfield services company’s stock after selling 524,989 shares during the quarter. Bank of New York Mellon Corp’s holdings in Halliburton were worth $234,290,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Nvest Wealth Strategies Inc. acquired a new stake in Halliburton during the 4th quarter valued at approximately $25,000. Zions Bancorporation National Association UT increased its holdings in Halliburton by 196.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock worth $28,000 after purchasing an additional 650 shares during the last quarter. Hoey Investments Inc. acquired a new position in shares of Halliburton in the 1st quarter valued at approximately $39,000. Kelleher Financial Advisors acquired a new position in shares of Halliburton in the 3rd quarter valued at approximately $25,000. Finally, Raleigh Capital Management Inc. boosted its stake in shares of Halliburton by 6,364.7% during the 1st quarter. Raleigh Capital Management Inc. now owns 1,099 shares of the oilfield services company’s stock valued at $43,000 after buying an additional 1,082 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Transactions at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 198,349 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $41.29, for a total value of $8,189,830.21. Following the sale, the executive vice president owned 146,186 shares in the company, valued at approximately $6,036,019.94. This trade represents a 57.57% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 firm’s stock in a transaction 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 transaction, the chief financial officer directly owned 148,520 shares in the company, valued at $5,330,382.80. This trade represents a 14.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 258,255 shares of company stock worth $10,550,535 in the last quarter. 0.57% of the stock is currently owned by corporate insiders.

Halliburton Stock Performance

Shares of NYSE HAL opened at $35.24 on Friday. 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 firm’s 50-day moving average price is $37.71 and its two-hundred day moving average price is $36.28. Halliburton Company has a 52-week low of $20.17 and a 52-week high of $43.59. The stock has a market capitalization of $29.44 billion, a P/E ratio of 19.37, a P/E/G ratio of 1.63 and a beta of 0.71.

Halliburton (NYSE:HAL) last announced 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. The business had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. As a group, sell-side analysts forecast that Halliburton Company will post 2.36 earnings per share for the current 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 given a $0.17 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $0.68 annualized dividend and a yield of 1.9%. Halliburton’s dividend payout ratio is 37.36%.

Halliburton News Roundup

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton won multiple multi-year Saudi Aramco contracts, including work tied to the Jafurah gas project and a 285-well campaign, expanding its footprint in a key growth market. Halliburton Lands Aramco Deal for Saudi Arabia’s Jafurah Gas Project
• Positive Sentiment: Offshore and industry coverage pointed to Halliburton “reaping rewards” from Aramco-led awards, reinforcing expectations for stronger international activity and backlog growth. Deals of the week: Halliburton reaps rewards as Aramco leads the prizegiving
• Positive Sentiment: Analysts also highlighted Halliburton’s deepwater momentum, suggesting continued strength in activity trends beyond Saudi Arabia. Halliburton (NYSE:HAL) Gains on Deepwater Momentum
• Neutral Sentiment: Halliburton is nearing its Q2 earnings report, with investors watching for signs that stronger completion and drilling activity offset Middle East disruptions and higher costs. Halliburton Set to Report Q2 Earnings: Key Things To Watch
• Neutral Sentiment: Coverage from MarketWatch and other outlets largely reiterated the Aramco contract news, which keeps the market focused on backlog and project execution rather than a new catalyst. Halliburton Gets Aramco Contracts for Saudi Oil Wells

Analyst Ratings Changes

A number of research firms have recently weighed in on HAL. Royal Bank Of Canada raised their price target on shares of Halliburton from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Barclays raised shares of Halliburton from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $37.00 to $55.00 in a report on Thursday, May 7th. Argus raised their price objective on shares of Halliburton from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Griffin Securities raised shares of Halliburton from a “neutral” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Wednesday, April 22nd. Finally, TD Cowen boosted their target price on shares of Halliburton from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Nineteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock 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.