Halliburton Company $HAL Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC cut its position in Halliburton Company (NYSE:HAL) by 23.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,067,041 shares of the oilfield services company’s stock after selling 1,266,702 shares during the period. Pzena Investment Management LLC owned 0.49% of Halliburton worth $158,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Vermillion Wealth Management Inc. grew its position in shares of Halliburton by 24.8% in the fourth quarter. Vermillion Wealth Management Inc. now owns 1,456 shares of the oilfield services company’s stock valued at $41,000 after purchasing an additional 289 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Halliburton by 1.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 23,312 shares of the oilfield services company’s stock valued at $659,000 after acquiring an additional 349 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Halliburton by 7.3% in the 4th quarter. Harbour Investments Inc. now owns 5,320 shares of the oilfield services company’s stock worth $150,000 after acquiring an additional 361 shares during the last quarter. Kingsview Wealth Management LLC raised its position in Halliburton by 3.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 10,363 shares of the oilfield services company’s stock valued at $293,000 after purchasing an additional 365 shares during the period. Finally, Fidelis Capital Partners LLC boosted its position in shares of Halliburton by 1.7% during the fourth quarter. Fidelis Capital Partners LLC now owns 22,517 shares of the oilfield services company’s stock worth $636,000 after buying an additional 371 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Halliburton

In related news, VP Timothy Mckeon sold 8,655 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $42.00, for a total value of $363,510.00. Following the transaction, the vice president owned 72,976 shares in the company, valued at approximately $3,064,992. The trade was a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Casey Maxwell sold 20,348 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $41.89, for a total transaction of $852,377.72. Following the transaction, the insider owned 93,763 shares in the company, valued at $3,927,732.07. This trade represents a 17.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 258,255 shares of company stock valued at $10,550,535. 0.57% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

HAL has been the subject of a number of analyst reports. Griffin Securities raised Halliburton from a “neutral” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Wednesday, April 22nd. UBS Group increased their price target on Halliburton from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Tuesday, April 7th. Zephirin Group boosted their target price on Halliburton from $30.00 to $31.00 and gave the stock a “sell” rating in a research report on Wednesday, April 22nd. Citigroup increased their price target on shares of Halliburton from $47.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Finally, Susquehanna raised their price target on Halliburton from $40.00 to $45.00 and gave the company a “positive” rating in a research report on Tuesday, April 7th. Eighteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and a consensus price target of $43.27.

Halliburton Stock Down 2.8%

HAL opened at $33.00 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54. The stock has a market capitalization of $27.57 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 1.47 and a beta of 0.72. The business has a 50-day moving average of $39.12 and a two-hundred day moving average of $35.79. Halliburton Company has a 12 month low of $20.17 and a 12 month high of $43.59.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.05. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The business had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the firm posted $0.60 EPS. The company’s revenue was down .3% on a year-over-year basis. On average, research analysts expect that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.68 annualized dividend and a dividend yield of 2.1%. Halliburton’s dividend payout ratio is presently 37.36%.

Halliburton 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.