Insider Selling: Halliburton (NYSE:HAL) EVP Sells 19,618 Shares of Stock

Halliburton Company (NYSE:HAL) EVP Van Beckwith sold 19,618 shares of Halliburton stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $33.82, for a total transaction of $663,480.76. Following the sale, the executive vice president directly owned 344,535 shares of the company’s stock, valued at $11,652,173.70. The trade was a 5.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Halliburton Stock Performance

Shares of Halliburton stock traded up $1.58 during trading on Tuesday, reaching $35.74. The company’s stock had a trading volume of 10,541,585 shares, compared to its average volume of 15,073,724. The business’s 50-day moving average price is $33.98 and its 200-day moving average price is $28.59. Halliburton Company has a 52 week low of $18.72 and a 52 week high of $37.03. The firm has a market cap of $29.93 billion, a PE ratio of 23.67, a P/E/G ratio of 2.01 and a beta of 0.73. The company has a quick ratio of 1.51, a current ratio of 2.04 and a debt-to-equity ratio of 0.68.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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 in the previous year, the firm earned $0.73 earnings per share. Halliburton’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts forecast that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, March 4th. Halliburton’s dividend payout ratio is presently 45.03%.

Analysts Set New Price Targets

Several brokerages recently issued reports on HAL. Piper Sandler lifted their target price on Halliburton from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Rothschild & Co Redburn raised their price target on shares of Halliburton from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Susquehanna boosted their price objective on Halliburton from $36.00 to $40.00 and gave the company a “positive” rating in a report on Thursday, January 22nd. Jefferies Financial Group restated a “buy” rating and issued a $39.00 target price on shares of Halliburton in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. raised their price objective on Halliburton from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, January 22nd. One equities research 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.38.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HAL. Capital Research Global Investors grew its position in shares of Halliburton by 21.1% during the 4th quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock valued at $3,114,848,000 after acquiring an additional 19,190,520 shares during the period. Vanguard Group Inc. raised its holdings in Halliburton by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 105,363,599 shares of the oilfield services company’s stock worth $2,147,310,000 after purchasing an additional 1,617,696 shares during the period. State Street Corp lifted its position in Halliburton by 1.7% during the fourth quarter. State Street Corp now owns 50,825,761 shares of the oilfield services company’s stock valued at $1,436,336,000 after purchasing an additional 861,964 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Halliburton by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,097,164 shares of the oilfield services company’s stock valued at $878,806,000 after purchasing an additional 443,064 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Halliburton by 82,596.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after purchasing an additional 29,735,387 shares during the period. 85.23% of the stock is currently owned by institutional investors.

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.