Park National Corp OH Has $7.52 Million Stake in Halliburton Company $HAL

Park National Corp OH lowered its holdings in Halliburton Company (NYSE:HAL) by 18.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 265,914 shares of the oilfield services company’s stock after selling 61,472 shares during the quarter. Park National Corp OH’s holdings in Halliburton were worth $7,515,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Cullen Frost Bankers Inc. bought a new position in shares of Halliburton during the third quarter worth approximately $25,000. Kelleher Financial Advisors bought a new stake in shares of Halliburton in the third quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. acquired a new stake in Halliburton during the second quarter worth approximately $25,000. Strive Asset Management LLC acquired a new stake in Halliburton during the third quarter worth approximately $31,000. Finally, Root Financial Partners LLC bought a new position in Halliburton during the 3rd quarter worth $32,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on HAL shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $35.00 price objective on shares of Halliburton in a report on Wednesday, January 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Halliburton in a research report on Monday, December 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $39.00 price target on shares of Halliburton in a research note on Friday, February 6th. Capital One Financial upped their price objective on shares of Halliburton from $25.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. Finally, Piper Sandler increased their price objective on shares of Halliburton from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.38.

Insider Activity

In other news, VP Timothy Mckeon sold 3,846 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $34.37, for a total value of $132,187.02. Following the completion of the transaction, the vice president owned 81,631 shares of the company’s stock, valued at approximately $2,805,657.47. This represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lawrence J. Pope sold 100,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 419,800 shares in the company, valued at approximately $13,538,550. The trade was a 19.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 357,053 shares of company stock valued at $12,178,682. Corporate insiders own 0.56% of the company’s stock.

Halliburton Trading Up 1.9%

Shares of HAL stock opened at $36.90 on Friday. Halliburton Company has a fifty-two week low of $18.72 and a fifty-two week high of $37.27. The stock’s fifty day moving average price is $34.28 and its two-hundred day moving average price is $28.79. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.51 and a current ratio of 2.04. The company has a market cap of $30.90 billion, a PE ratio of 24.44, a P/E/G ratio of 2.16 and a beta of 0.73.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 EPS for the quarter, topping 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 company had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the previous year, the firm earned $0.73 EPS. Halliburton’s revenue was up .8% on a year-over-year basis. Equities analysts predict that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $0.68 annualized dividend and a yield of 1.8%. Halliburton’s payout ratio is presently 45.03%.

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.