Candriam S.C.A. Has $2.66 Million Stock Position in Halliburton Company $HAL

Candriam S.C.A. raised its holdings in Halliburton Company (NYSE:HAL) by 752.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,180 shares of the oilfield services company’s stock after purchasing an additional 60,185 shares during the quarter. Candriam S.C.A.’s holdings in Halliburton were worth $2,658,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HAL. Nvest Wealth Strategies Inc. acquired a new stake in Halliburton during the 4th quarter worth $25,000. Kelleher Financial Advisors bought a new stake in Halliburton during the 3rd quarter worth about $25,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Halliburton in the 2nd quarter valued at approximately $25,000. Zions Bancorporation National Association UT lifted its stake in Halliburton by 196.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock valued at $28,000 after purchasing an additional 650 shares during the last quarter. Finally, Strive Asset Management LLC acquired a new position in shares of Halliburton in the third quarter valued at $31,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Buying and Selling at Halliburton

In related news, CFO Eric Carre sold 24,778 shares of the company’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 completion of the transaction, the chief financial officer directly owned 148,520 shares in the company, valued at approximately $5,330,382.80. The trade was a 14.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Timothy Mckeon sold 8,655 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $42.00, for a total value of $363,510.00. Following the transaction, the vice president directly owned 72,976 shares in the company, valued at $3,064,992. This trade represents a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 258,255 shares of company stock valued at $10,550,535 over the last quarter. Company insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Zephirin Group boosted their price target on Halliburton from $30.00 to $31.00 and gave the company a “sell” rating in a research note on Wednesday, April 22nd. Susquehanna dropped their price objective on shares of Halliburton from $45.00 to $42.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Rothschild & Co Redburn lifted their price target on Halliburton from $40.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, May 15th. TD Cowen boosted their price objective on shares of Halliburton from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Finally, HSBC increased their target price on shares of Halliburton from $40.00 to $46.00 and gave the company 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 issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Halliburton presently has a consensus rating of “Moderate Buy” and an average target price 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

Halliburton Price Performance

Shares of NYSE HAL opened at $35.46 on Wednesday. The company has a market capitalization of $29.62 billion, a PE ratio of 19.48, a PEG ratio of 1.52 and a beta of 0.71. 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 $37.98 and its 200-day moving average price is $36.18. Halliburton Company has a twelve month low of $20.17 and a twelve 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The company had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the business posted $0.60 EPS. Halliburton’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities analysts anticipate that Halliburton Company will post 2.34 EPS for the current year.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, June 3rd. Halliburton’s dividend payout ratio (DPR) is 37.36%.

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.