Aventail Capital Group LP Lowers Stock Holdings in Halliburton Company $HAL

Aventail Capital Group LP reduced its position in Halliburton Company (NYSE:HAL) by 86.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 289,985 shares of the oilfield services company’s stock after selling 1,909,076 shares during the quarter. Aventail Capital Group LP’s holdings in Halliburton were worth $8,195,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Halliburton by 7.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company’s stock worth $2,353,000 after purchasing an additional 6,507 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of Halliburton by 39.0% in the 1st quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company’s stock worth $1,861,000 after purchasing an additional 20,583 shares in the last quarter. Focus Partners Wealth boosted its holdings in shares of Halliburton by 25.0% in the 1st quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company’s stock worth $1,320,000 after purchasing an additional 10,408 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of Halliburton by 309.1% in the 1st quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company’s stock worth $1,749,000 after purchasing an additional 52,092 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Halliburton in the 1st quarter worth about $895,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Halliburton

In related news, EVP Van H. Beckwith sold 198,349 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $41.29, for a total transaction of $8,189,830.21. Following the transaction, the executive vice president owned 146,186 shares in the company, valued at $6,036,019.94. The trade was a 57.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeffrey Allen Miller sold 158,455 shares of the business’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $40.00, for a total value of $6,338,200.00. Following the transaction, the chief executive officer owned 1,013,027 shares in the company, valued at approximately $40,521,080. This represents a 13.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 391,932 shares of company stock worth $15,999,453 over the last 90 days. 0.57% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. UBS Group upped their price objective on Halliburton from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Tuesday, April 7th. BMO Capital Markets upped their price objective on Halliburton from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Stifel Nicolaus reiterated a “buy” rating and issued a $43.00 price objective (up from $36.00) on shares of Halliburton in a report on Wednesday, April 22nd. Piper Sandler lifted their price objective on Halliburton from $34.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Finally, Susquehanna lifted their price objective on Halliburton from $40.00 to $45.00 and gave the stock a “positive” rating in a report on Tuesday, April 7th. Eighteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Halliburton presently has an average rating of “Moderate Buy” and a consensus price target of $43.27.

Halliburton Stock Down 2.6%

HAL opened at $36.23 on Thursday. The company has a market cap of $30.27 billion, a P/E ratio of 19.91, a P/E/G ratio of 1.61 and a beta of 0.69. The business’s 50-day moving average price is $39.79 and its 200-day moving average price is $35.33. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.65. Halliburton Company has a 12 month low of $20.09 and a 12 month high of $43.59.

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

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd 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, June 3rd. Halliburton’s payout ratio is currently 37.36%.

About Halliburton

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.