Swiss Life Asset Management Ltd Has $7.54 Million Stock Holdings in Halliburton Company $HAL

Swiss Life Asset Management Ltd lessened its position in Halliburton Company (NYSE:HAL) by 33.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 306,580 shares of the oilfield services company’s stock after selling 156,574 shares during the period. Swiss Life Asset Management Ltd’s holdings in Halliburton were worth $7,542,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Groupama Asset Managment increased its stake in Halliburton by 3.0% during the 3rd quarter. Groupama Asset Managment now owns 1,619,865 shares of the oilfield services company’s stock valued at $39,849,000 after purchasing an additional 47,002 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Halliburton in the third quarter valued at $2,900,000. Coldstream Capital Management Inc. grew its holdings in shares of Halliburton by 25.4% during the third quarter. Coldstream Capital Management Inc. now owns 22,963 shares of the oilfield services company’s stock valued at $565,000 after buying an additional 4,645 shares during the last quarter. Danske Bank A S acquired a new position in shares of Halliburton during the third quarter valued at about $2,898,000. Finally, Advisory Services Network LLC increased its position in shares of Halliburton by 7.3% during the third quarter. Advisory Services Network LLC now owns 58,501 shares of the oilfield services company’s stock worth $1,439,000 after acquiring an additional 4,001 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Insider Buying and Selling at Halliburton

In related news, VP Timothy Mckeon sold 3,846 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $34.37, for a total transaction of $132,187.02. Following the sale, the vice president owned 81,631 shares of the company’s stock, valued at approximately $2,805,657.47. This represents a 4.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Allen Miller sold 171,200 shares of the company’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $34.96, for a total transaction of $5,985,152.00. Following the completion of the transaction, the chief executive officer directly owned 1,101,243 shares in the company, valued at approximately $38,499,455.28. The trade was a 13.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 357,053 shares of company stock worth $12,178,682. Company insiders own 0.56% of the company’s stock.

Halliburton Stock Performance

HAL stock opened at $36.41 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.04 and a debt-to-equity ratio of 0.68. The firm has a market cap of $30.50 billion, a PE ratio of 24.11, a P/E/G ratio of 2.18 and a beta of 0.73. The business has a 50 day moving average of $34.36 and a 200-day moving average of $28.92. Halliburton Company has a 12-month low of $18.72 and a 12-month high of $37.36.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.14. Halliburton had a net margin of 5.78% and a return on equity of 19.77%. The company had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the prior year, the business earned $0.73 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. As a group, sell-side analysts expect that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Announces Dividend

The firm 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 dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $0.68 dividend on an annualized basis and a yield of 1.9%. Halliburton’s payout ratio is presently 45.03%.

Analysts Set New Price Targets

HAL has been the subject of several analyst reports. Barclays increased their price objective on Halliburton from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 16th. Argus lifted their target price on Halliburton from $31.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Citigroup increased their price target on Halliburton from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Piper Sandler raised their price objective on Halliburton from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Finally, Evercore raised shares of Halliburton from an “in-line” rating to an “outperform” rating and set a $42.00 price objective on the stock in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.67.

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.