Halliburton Company $HAL Shares Sold by Tidal Investments LLC

Tidal Investments LLC lessened its holdings in shares of Halliburton Company (NYSE:HAL) by 14.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 401,387 shares of the oilfield services company’s stock after selling 68,665 shares during the quarter. Tidal Investments LLC’s holdings in Halliburton were worth $13,627,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Halliburton during the second quarter valued at $2,812,327,000. California State Teachers Retirement System raised its stake in shares of Halliburton by 2,886.3% during the second quarter. California State Teachers Retirement System now owns 82,808,973 shares of the oilfield services company’s stock valued at $2,811,365,000 after purchasing an additional 80,036,032 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Halliburton by 82,596.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock worth $841,339,000 after purchasing an additional 29,735,387 shares during the period. Capital Research Global Investors lifted its holdings in Halliburton by 21.1% in the fourth quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock worth $3,114,848,000 after purchasing an additional 19,190,520 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in Halliburton in the 2nd quarter valued at about $345,941,000. Institutional investors own 85.23% of the company’s stock.

Halliburton Price Performance

Shares of Halliburton stock opened at $35.88 on Friday. Halliburton Company has a 52 week low of $21.46 and a 52 week high of $43.59. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64. The stock has a market cap of $29.89 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 2.08 and a beta of 0.76. The company’s 50-day moving average price is $34.39 and its two-hundred day moving average price is $36.70.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. The company had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.50 billion. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. As a group, sell-side analysts anticipate that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, September 2nd. Halliburton’s dividend payout ratio (DPR) is presently 35.60%.

Insider Activity at Halliburton

In other news, COO Jeffrey Slocum sold 52,572 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the completion of the sale, the chief operating officer directly owned 118,730 shares of the company’s stock, valued at $4,166,235.70. This trade represents a 30.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total value of $889,282.42. Following the sale, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at approximately $5,330,382.80. This represents a 14.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Capital One Financial boosted their price target on shares of Halliburton from $41.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Susquehanna decreased their price objective on shares of Halliburton from $45.00 to $42.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. TD Cowen lowered their price objective on shares of Halliburton from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Piper Sandler raised Halliburton from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $43.00 in a report on Tuesday, July 14th. Finally, Citigroup upped their target price on Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and an average target price of $43.10.

About Halliburton

Halliburton Company (NYSE: HAL) is a global provider of products and services for the energy industry. The company supports oil and natural gas exploration, development and production across the life cycle of a well, serving both independent and national oil companies.

Halliburton operates through two principal business segments: Completion and Production, which provides cementing, stimulation, intervention and completion services; and Drilling and Evaluation, which offers drilling services, formation evaluation, well construction, project management and related technologies.