Bank of New York Mellon Corp Buys 96,394 Shares of Halliburton Company $HAL

Bank of New York Mellon Corp boosted its stake in shares of Halliburton Company (NYSE:HAL) by 1.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 5,929,285 shares of the oilfield services company’s stock after purchasing an additional 96,394 shares during the period. Bank of New York Mellon Corp’s holdings in Halliburton were worth $145,860,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of Halliburton in the second quarter valued at approximately $25,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Halliburton in the 3rd quarter worth $25,000. Rakuten Securities Inc. grew its position in shares of Halliburton by 547.3% during the 2nd quarter. Rakuten Securities Inc. now owns 1,586 shares of the oilfield services company’s stock worth $32,000 after buying an additional 1,341 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of Halliburton during the third quarter valued at $32,000. Finally, Cape Investment Advisory Inc. raised its holdings in shares of Halliburton by 111.9% in the second quarter. Cape Investment Advisory Inc. now owns 1,704 shares of the oilfield services company’s stock valued at $35,000 after acquiring an additional 900 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Lawrence J. Pope sold 100,000 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $32.25, for a total transaction of $3,225,000.00. Following the sale, the executive vice president directly owned 419,800 shares of the company’s stock, valued at $13,538,550. The trade was a 19.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Margaret Katherine Banks sold 2,600 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $34.17, for a total value of $88,842.00. Following the completion of the transaction, the director directly owned 14,043 shares in the company, valued at approximately $479,849.31. The trade was a 15.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 497,002 shares of company stock valued at $15,889,138. Corporate insiders own 0.56% of the company’s stock.

Halliburton Stock Up 0.4%

Shares of HAL stock opened at $33.52 on Friday. The stock’s fifty day moving average price is $29.72 and its 200 day moving average price is $25.72. Halliburton Company has a 1-year low of $18.72 and a 1-year high of $35.55. The company has a market cap of $28.21 billion, a price-to-earnings ratio of 22.20, a price-to-earnings-growth ratio of 1.99 and a beta of 0.78. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.04 and a quick ratio of 1.51.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.14. Halliburton had a return on equity of 19.77% and a net margin of 5.78%.The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the company earned $0.73 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, research analysts expect that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd were paid a dividend of $0.17 per share. The ex-dividend date was Wednesday, December 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. Halliburton’s dividend payout ratio is presently 45.03%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Zephirin Group cut shares of Halliburton from a “buy” rating to a “hold” rating and dropped their target price for the stock from $30.00 to $28.00 in a report on Friday, January 23rd. Zacks Research upgraded shares of Halliburton from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 23rd. TD Cowen boosted their price objective on shares of Halliburton from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Piper Sandler increased their target price on Halliburton from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Hsbc Global Res raised Halliburton from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.76.

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.