Halliburton Company $HAL Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Halliburton Company (NYSE:HAL) by 5.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,176,295 shares of the oilfield services company’s stock after purchasing an additional 286,795 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Halliburton were worth $175,735,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors grew its stake in 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 buying an additional 19,190,520 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Halliburton during the second quarter worth about $2,812,327,000. State Street Corp increased its holdings in shares of Halliburton by 1.7% during the fourth quarter. State Street Corp now owns 50,825,761 shares of the oilfield services company’s stock valued at $1,436,336,000 after acquiring an additional 861,964 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Halliburton by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,097,164 shares of the oilfield services company’s stock valued at $878,806,000 after purchasing an additional 443,064 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Halliburton by 82,596.0% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Stock Performance

NYSE HAL opened at $36.85 on Wednesday. The firm has a market capitalization of $30.70 billion, a P/E ratio of 19.29, a PEG ratio of 2.31 and a beta of 0.76. The stock has a 50-day simple moving average of $33.88 and a two-hundred day simple moving average of $36.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.50 and a current ratio of 2.02. Halliburton Company has a fifty-two week low of $21.40 and a fifty-two week high of $43.59.

Halliburton (NYSE:HAL) last announced its quarterly earnings results 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. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The company had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.50 billion. During the same period last year, the business earned $0.55 earnings per share. Halliburton’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, September 2nd. Halliburton’s payout ratio is 35.60%.

Insider Buying and Selling at Halliburton

In related news, CFO Eric Carre sold 24,778 shares of the stock in a transaction 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 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jeffrey Shannon Slocum sold 52,572 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the sale, the chief operating officer owned 118,730 shares in the company, valued at approximately $4,166,235.70. This represents a 30.69% decrease in their position. 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. Insiders own 0.57% of the company’s stock.

More Halliburton News

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Potential Venezuela expansion: Halliburton is reportedly nearing a billion-dollar oil-services opportunity tied to a U.S.-backed effort to rebuild Venezuela’s production infrastructure. The company could benefit from drilling, well-cementing, reservoir evaluation and other services as Chevron and other producers invest in restoring aging fields. Chevron and Halliburton Near Billion-Dollar Venezuela Oil Deals
• Positive Sentiment: Historic U.S.-Venezuela oil agreement: Reports that Washington and Caracas have reached an oil deal are reinforcing expectations for long-term capital spending in Venezuela. As a major oilfield-services provider, HAL may act as a “picks-and-shovels” beneficiary if international producers receive access to reserves and begin upgrading infrastructure. Energy ETFs to Watch as US-Venezuela Sign Historic Oil Deal
• Positive Sentiment: Higher oil prices and geopolitical risk: Energy stocks moved higher as Middle East tensions and reported U.S. strikes supported crude prices. Sustained oil prices could encourage customers to increase exploration and production budgets, improving demand for Halliburton’s services. Chevron, Exxon and Other Oil Stocks Jump as Two Huge Energy Stories Collide
• Positive Sentiment: New-energy diversification: Halliburton has been selected for work on the Cornwall lithium project, highlighting an opportunity to apply its subsurface and well-construction expertise outside traditional oil and gas. The project is strategically interesting, though its near-term earnings impact is uncertain. Cornwall lithium project brings in American oil service titan Halliburton
• Neutral Sentiment: Analyst caution: Wall Street Zen downgraded HAL to “Hold,” suggesting valuation and cyclical oilfield-services risks may already be reflected in the stock. The downgrade was offset by the firm oil-market backdrop, leaving shares broadly steady in the referenced coverage. Halliburton Cut to Hold at Wall Street Zen
• Negative Sentiment: Macro risks: Rising oil prices tied to Middle East conflict could also increase inflation and interest-rate concerns, potentially pressuring broad equity valuations and slowing customer spending if the economic outlook deteriorates. Tesla, PG&E, Nvidia, SLB, Pinterest, and More Stocks That Explain Today’s Market

Analysts Set New Price Targets

A number of brokerages have issued reports on HAL. Wolfe Research initiated coverage on shares of Halliburton in a research note on Wednesday, July 8th. They set a “peer perform” rating on the stock. BMO Capital Markets set a $37.00 price objective on shares of Halliburton in a report on Wednesday, July 22nd. Evercore restated an “outperform” rating and issued a $43.00 target price on shares of Halliburton in a research note on Wednesday, July 22nd. Argus lowered their price target on Halliburton from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Finally, Barclays cut their price objective on Halliburton from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Halliburton has an average rating of “Moderate Buy” and an average target price of $43.10.

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.