Mediolanum International Funds Ltd Sells 1,014,060 Shares of Halliburton Company $HAL

Mediolanum International Funds Ltd decreased its position in Halliburton Company (NYSE:HAL) by 53.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 893,827 shares of the oilfield services company’s stock after selling 1,014,060 shares during the period. Mediolanum International Funds Ltd owned about 0.11% of Halliburton worth $35,092,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of 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 valued at $841,339,000 after buying an additional 29,735,387 shares during the period. Capital Research Global Investors grew its stake in shares of Halliburton by 21.1% during the 4th quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock worth $3,114,848,000 after acquiring an additional 19,190,520 shares during the period. Norges Bank bought a new position in shares of Halliburton during the 4th quarter worth $169,304,000. Canoe Financial LP purchased a new stake in Halliburton in the 1st quarter worth about $158,525,000. Finally, AQR Capital Management LLC increased its holdings in Halliburton by 85.5% in the 2nd quarter. AQR Capital Management LLC now owns 8,610,870 shares of the oilfield services company’s stock worth $175,490,000 after acquiring an additional 3,969,759 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

Halliburton Stock Performance

NYSE:HAL opened at $35.24 on Friday. The business’s fifty day moving average is $37.71 and its 200 day moving average is $36.28. The firm has a market cap of $29.44 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.63 and a beta of 0.71. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08. Halliburton Company has a 52-week low of $20.17 and a 52-week high of $43.59.

Halliburton (NYSE:HAL) last issued its earnings results 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 business had revenue of $5.40 billion during 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 firm’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. Research analysts predict that Halliburton Company will post 2.36 EPS for the current year.

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, June 3rd. Halliburton’s dividend payout ratio (DPR) is 37.36%.

Insider Buying and Selling

In related news, CFO Eric Carre sold 24,778 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $35.89, for a total transaction of $889,282.42. Following the sale, the chief financial officer owned 148,520 shares of the company’s stock, valued at approximately $5,330,382.80. This represents a 14.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 that occurred on Tuesday, May 5th. The stock was sold at an average price of $41.89, for a total transaction of $852,377.72. Following the completion of the sale, the insider owned 93,763 shares in the company, valued at $3,927,732.07. This represents a 17.83% 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 sold 258,255 shares of company stock valued at $10,550,535 in the last three months. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

HAL has been the topic of several recent research reports. Argus upped their price objective on shares of Halliburton from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Wall Street Zen downgraded shares of Halliburton from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 3rd. Susquehanna reduced their target price on shares of Halliburton from $45.00 to $42.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Piper Sandler raised shares of Halliburton from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $40.00 to $43.00 in a research report on Tuesday. Finally, Rothschild & Co Redburn upped their price target on shares of Halliburton from $40.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Nineteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.27.

More Halliburton News

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton won multiple multi-year Saudi Aramco contracts, including work tied to the Jafurah gas project and a 285-well campaign, expanding its footprint in a key growth market. Halliburton Lands Aramco Deal for Saudi Arabia’s Jafurah Gas Project
• Positive Sentiment: Offshore and industry coverage pointed to Halliburton “reaping rewards” from Aramco-led awards, reinforcing expectations for stronger international activity and backlog growth. Deals of the week: Halliburton reaps rewards as Aramco leads the prizegiving
• Positive Sentiment: Analysts also highlighted Halliburton’s deepwater momentum, suggesting continued strength in activity trends beyond Saudi Arabia. Halliburton (NYSE:HAL) Gains on Deepwater Momentum
• Neutral Sentiment: Halliburton is nearing its Q2 earnings report, with investors watching for signs that stronger completion and drilling activity offset Middle East disruptions and higher costs. Halliburton Set to Report Q2 Earnings: Key Things To Watch
• Neutral Sentiment: Coverage from MarketWatch and other outlets largely reiterated the Aramco contract news, which keeps the market focused on backlog and project execution rather than a new catalyst. Halliburton Gets Aramco Contracts for Saudi Oil Wells

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.