Munich Reinsurance Co Stock Corp in Munich Takes Position in Halliburton Company $HAL

Munich Reinsurance Co Stock Corp in Munich purchased a new position in Halliburton Company (NYSE:HAL) in the second quarter, Holdings Channel.com reports. The firm purchased 77,741 shares of the oilfield services company’s stock, valued at approximately $2,639,000.

Several other hedge funds have also recently made changes to their positions in HAL. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Halliburton by 10.2% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,794 shares of the oilfield services company’s stock worth $109,000 after purchasing an additional 258 shares during the last quarter. Vermillion Wealth Management Inc. raised its stake in Halliburton by 24.8% during the 4th quarter. Vermillion Wealth Management Inc. now owns 1,456 shares of the oilfield services company’s stock valued at $41,000 after buying an additional 289 shares during the last quarter. Greenleaf Trust raised its stake in Halliburton by 2.0% during the 2nd quarter. Greenleaf Trust now owns 17,348 shares of the oilfield services company’s stock valued at $589,000 after buying an additional 342 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Halliburton by 1.5% during the 4th quarter. Coldstream Capital Management Inc. now owns 23,312 shares of the oilfield services company’s stock valued at $659,000 after buying an additional 349 shares during the period. Finally, Harbour Investments Inc. boosted its stake in shares of Halliburton by 7.3% in the 4th quarter. Harbour Investments Inc. now owns 5,320 shares of the oilfield services company’s stock worth $150,000 after buying an additional 361 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Halliburton

In other Halliburton 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 value of $889,282.42. Following the completion of the transaction, the chief financial officer directly owned 148,520 shares in the company, valued at $5,330,382.80. This represents a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jeffrey Slocum sold 52,572 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the completion of the sale, the chief operating officer directly owned 118,730 shares of the company’s stock, valued at approximately $4,166,235.70. This trade represents a 30.69% decrease in their ownership of the stock. 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. Corporate insiders own 0.57% of the company’s stock.

Halliburton Price Performance

NYSE HAL opened at $37.05 on Friday. The business’s fifty day moving average is $34.07 and its 200 day moving average is $36.63. Halliburton Company has a fifty-two week low of $21.46 and a fifty-two week high of $43.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.50 and a current ratio of 2.02. The company has a market capitalization of $30.87 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 2.15 and a beta of 0.76.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The business had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter in the prior year, the business posted $0.55 earnings per share. The business’s quarterly revenue was up 3.7% on a year-over-year basis. Sell-side analysts predict 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. Investors of record on Wednesday, September 2nd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, September 2nd. Halliburton’s dividend payout ratio is currently 35.60%.

Analyst Ratings Changes

HAL has been the subject of several research analyst reports. Argus cut their price objective on Halliburton from $45.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Piper Sandler raised Halliburton from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $40.00 to $43.00 in a research report on Tuesday, July 14th. Barclays reduced their price target on shares of Halliburton from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Halliburton in a research note on Wednesday, July 8th. Finally, BMO Capital Markets set a $37.00 price objective on shares of Halliburton in a report on Wednesday, July 22nd. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Halliburton currently has a consensus rating of “Moderate Buy” and an average price target of $43.10.

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.