Halliburton Company $HAL Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lowered its holdings in Halliburton Company (NYSE:HAL) by 9.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,017,348 shares of the oilfield services company’s stock after selling 421,394 shares during the period. Van ECK Associates Corp owned about 0.48% of Halliburton worth $98,827,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Halliburton by 1.6% during 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 acquiring an additional 1,617,696 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Halliburton by 81.8% in the third quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company’s stock worth $2,239,349,000 after buying an additional 40,969,139 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Halliburton by 1.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 30,287,989 shares of the oilfield services company’s stock worth $617,269,000 after acquiring an additional 346,218 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Halliburton by 0.4% during the second quarter. Geode Capital Management LLC now owns 22,342,963 shares of the oilfield services company’s stock valued at $453,461,000 after acquiring an additional 92,549 shares during the period. Finally, Strive Asset Management LLC purchased a new stake in shares of Halliburton in the 3rd quarter valued at approximately $418,738,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Timothy Mckeon sold 3,846 shares of Halliburton stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $34.37, for a total value of $132,187.02. Following the sale, the vice president directly owned 81,631 shares in the company, valued at $2,805,657.47. This trade represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Van H. Beckwith sold 54,348 shares of Halliburton stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $34.96, for a total value of $1,900,006.08. Following the completion of the sale, the executive vice president directly owned 344,535 shares in the company, valued at approximately $12,044,943.60. This represents a 13.63% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 331,994 shares of company stock valued at $11,331,187. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Piper Sandler raised 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. Barclays lifted their target price on Halliburton from $25.00 to $30.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 16th. BMO Capital Markets upped their price target on shares of Halliburton from $36.00 to $39.00 and gave the stock a “market perform” rating in a research note on Thursday, January 22nd. The Goldman Sachs Group increased their price objective on Halliburton from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Finally, Royal Bank Of Canada increased their target price on shares of Halliburton from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. One investment 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.38.

Halliburton Trading Up 2.0%

Shares of HAL opened at $35.34 on Wednesday. The stock has a fifty day moving average price of $33.56 and a two-hundred day moving average price of $28.24. The company has a market cap of $29.60 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 2.06 and a beta of 0.73. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.51 and a current ratio of 2.04. Halliburton Company has a 52-week low of $18.72 and a 52-week high of $37.03.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the prior year, the firm posted $0.73 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Analysts predict that Halliburton Company will post 2.64 EPS for the current fiscal 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. The ex-dividend date is Wednesday, March 4th. This represents a $0.68 annualized dividend and a yield of 1.9%. Halliburton’s dividend payout ratio (DPR) is 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.