Chevy Chase Trust Holdings LLC Has $16.34 Million Stock Holdings in Halliburton (NYSE:HAL)

Chevy Chase Trust Holdings LLC lowered its stake in Halliburton (NYSE:HAL) by 1.9% during the second quarter, Holdings Channel reports. The institutional investor owned 483,673 shares of the oilfield services company’s stock after selling 9,199 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Halliburton were worth $16,338,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Capital World Investors boosted its stake in shares of Halliburton by 0.3% in the first quarter. Capital World Investors now owns 121,928,734 shares of the oilfield services company’s stock valued at $4,806,431,000 after buying an additional 377,500 shares during the period. Vanguard Group Inc. lifted its position in shares of Halliburton by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock valued at $3,952,805,000 after acquiring an additional 2,618,740 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Halliburton by 46.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock worth $2,408,171,000 after purchasing an additional 19,237,784 shares in the last quarter. Sanders Capital LLC increased its position in shares of Halliburton by 3.4% in the fourth quarter. Sanders Capital LLC now owns 23,538,783 shares of the oilfield services company’s stock worth $850,927,000 after purchasing an additional 782,093 shares during the period. Finally, Norges Bank acquired a new stake in shares of Halliburton during the 4th quarter worth approximately $400,070,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Royal Bank of Canada cut their target price on Halliburton from $45.00 to $44.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. TD Cowen lowered their target price on Halliburton from $47.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. reduced their price target on shares of Halliburton from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Piper Sandler lowered their price objective on shares of Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, Benchmark restated a “buy” rating and set a $42.00 price objective on shares of Halliburton in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.35.

Halliburton Trading Down 2.4 %

HAL stock traded down $0.77 during mid-day trading on Tuesday, reaching $31.08. The company’s stock had a trading volume of 6,247,951 shares, compared to its average volume of 7,529,822. Halliburton has a 12 month low of $30.31 and a 12 month high of $43.85. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average price is $33.28 and its 200 day moving average price is $35.70. The company has a market cap of $27.52 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 1.12 and a beta of 1.93.

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

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 4th. This represents a $0.68 annualized dividend and a dividend yield of 2.19%. Halliburton’s dividend payout ratio is currently 23.53%.

Insider Transactions at Halliburton

In related news, EVP Van H. Beckwith sold 10,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $36.75, for a total value of $367,500.00. Following the completion of the sale, the executive vice president now directly owns 273,908 shares of the company’s stock, valued at approximately $10,066,119. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.61% of the company’s stock.

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.