Capital Research Global Investors Purchases 40,969,139 Shares of Halliburton Company $HAL

Capital Research Global Investors increased its holdings in shares of Halliburton Company (NYSE:HAL) by 81.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,030,451 shares of the oilfield services company’s stock after buying an additional 40,969,139 shares during the period. Capital Research Global Investors owned about 0.11% of Halliburton worth $2,239,349,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HAL. Capital International Inc. CA lifted its holdings in Halliburton by 16.3% in the third quarter. Capital International Inc. CA now owns 163,245 shares of the oilfield services company’s stock valued at $4,016,000 after buying an additional 22,840 shares during the period. Legal & General Group Plc boosted its stake in Halliburton by 1.5% during the third quarter. Legal & General Group Plc now owns 5,643,928 shares of the oilfield services company’s stock worth $138,841,000 after acquiring an additional 83,691 shares in the last quarter. Banque Cantonale Vaudoise boosted its position in shares of Halliburton by 20.3% during the 3rd quarter. Banque Cantonale Vaudoise now owns 78,692 shares of the oilfield services company’s stock worth $1,935,000 after purchasing an additional 13,253 shares in the last quarter. Sienna Gestion acquired a new position in Halliburton during the 3rd quarter worth approximately $5,908,000. Finally, WINTON GROUP Ltd raised its position in shares of Halliburton by 54.9% during the third quarter. WINTON GROUP Ltd now owns 198,710 shares of the oilfield services company’s stock worth $4,888,000 after purchasing an additional 70,417 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Halliburton Stock Performance

NYSE HAL opened at $34.60 on Tuesday. Halliburton Company has a 12-month low of $18.72 and a 12-month high of $37.03. The company has a quick ratio of 1.51, a current ratio of 2.04 and a debt-to-equity ratio of 0.68. The company has a 50-day simple moving average of $33.43 and a two-hundred day simple moving average of $28.14. The firm has a market cap of $28.98 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 2.03 and a beta of 0.73.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Wednesday, January 21st. The oilfield services company reported $0.69 earnings per share for the quarter, beating 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 firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The business’s revenue was up .8% on a year-over-year basis. On average, equities analysts forecast that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $0.68 annualized dividend and a yield of 2.0%. Halliburton’s payout ratio is 45.03%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on HAL shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Halliburton in a research note on Friday, February 6th. Piper Sandler increased their target price on shares of Halliburton from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Zephirin Group downgraded Halliburton from a “buy” rating to a “hold” rating and cut their price target for the stock from $30.00 to $28.00 in a research note on Friday, January 23rd. Royal Bank Of Canada boosted their price objective on Halliburton from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, January 22nd. Finally, BMO Capital Markets increased their target price on shares of Halliburton from $36.00 to $39.00 and gave the stock a “market perform” rating in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Halliburton presently has a consensus rating of “Moderate Buy” and an average target price of $35.38.

Insiders Place Their Bets

In related news, CEO Jeffrey Allen Miller sold 171,200 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $34.96, for a total transaction of $5,985,152.00. Following the completion of the transaction, the chief executive officer owned 1,101,243 shares of the company’s stock, valued at $38,499,455.28. This trade represents a 13.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lawrence J. Pope sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $32.25, for a total transaction of $3,225,000.00. Following the completion of the transaction, the executive vice president owned 419,800 shares of the company’s stock, valued at approximately $13,538,550. The trade was a 19.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 331,994 shares of company stock worth $11,331,187. Company insiders own 0.61% 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.