Halliburton (NYSE:HAL) Position Increased by iA Global Asset Management Inc.

iA Global Asset Management Inc. raised its stake in Halliburton (NYSE:HAL) by 12.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 63,967 shares of the oilfield services company’s stock after buying an additional 7,002 shares during the period. iA Global Asset Management Inc.’s holdings in Halliburton were worth $2,522,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pinnacle Associates Ltd. boosted its position in shares of Halliburton by 26.6% in the 4th quarter. Pinnacle Associates Ltd. now owns 7,164 shares of the oilfield services company’s stock valued at $259,000 after purchasing an additional 1,505 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Halliburton by 13.2% in the fourth quarter. Fifth Third Bancorp now owns 52,297 shares of the oilfield services company’s stock worth $1,891,000 after buying an additional 6,081 shares during the period. Prio Wealth Limited Partnership purchased a new position in shares of Halliburton in the fourth quarter worth approximately $238,000. Princeton Global Asset Management LLC acquired a new stake in shares of Halliburton during the fourth quarter valued at approximately $36,000. Finally, DAVENPORT & Co LLC lifted its position in shares of Halliburton by 15.7% in the 4th quarter. DAVENPORT & Co LLC now owns 22,313 shares of the oilfield services company’s stock valued at $807,000 after acquiring an additional 3,030 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Buying and Selling

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total value of $369,200.00. Following the completion of the transaction, the executive vice president now directly owns 283,908 shares of the company’s stock, valued at $10,481,883.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Halliburton news, SVP Jill D. Sharp sold 3,346 shares of Halliburton stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $37.00, for a total transaction of $123,802.00. Following the completion of the sale, the senior vice president now owns 40,185 shares of the company’s stock, valued at approximately $1,486,845. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Van H. Beckwith sold 10,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total value of $369,200.00. Following the completion of the transaction, the executive vice president now directly owns 283,908 shares in the company, valued at approximately $10,481,883.36. The disclosure for this sale can be found here. Insiders have sold a total of 62,287 shares of company stock worth $2,298,204 in the last three months. Insiders own 0.61% of the company’s stock.

Halliburton Price Performance

Shares of HAL traded down $1.67 during mid-day trading on Friday, reaching $31.57. The company had a trading volume of 5,006,920 shares, compared to its average volume of 7,515,018. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 1.54. The company has a market capitalization of $27.87 billion, a P/E ratio of 11.50, a P/E/G ratio of 1.17 and a beta of 1.93. Halliburton has a twelve month low of $31.57 and a twelve month high of $43.85. The company’s 50-day moving average is $34.23 and its 200-day moving average is $36.04.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $5.83 billion during the quarter, compared to analysts’ expectations of $5.95 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The business’s revenue was up .6% on a year-over-year basis. During the same period last year, the business earned $0.77 earnings per share. On average, equities analysts anticipate that Halliburton will post 3.18 EPS for the current year.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Wednesday, June 5th. Halliburton’s dividend payout ratio (DPR) is currently 23.53%.

Analysts Set New Price Targets

HAL has been the subject of several recent analyst reports. Barclays decreased their target price on Halliburton from $54.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Jefferies Financial Group lowered their target price on Halliburton from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday. Royal Bank of Canada dropped their price target on shares of Halliburton from $45.00 to $44.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Evercore ISI cut their price objective on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Finally, Piper Sandler reduced their price target on Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Halliburton currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.35.

Halliburton Company Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.