The Manufacturers Life Insurance Company Has $18.79 Million Holdings in Halliburton Company $HAL

The Manufacturers Life Insurance Company increased its holdings in shares of Halliburton Company (NYSE:HAL) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 553,347 shares of the oilfield services company’s stock after acquiring an additional 17,233 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of Halliburton worth $18,786,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors grew its holdings in shares of Halliburton by 21.1% during the fourth quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock worth $3,114,848,000 after purchasing an additional 19,190,520 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Halliburton in the second quarter valued at $2,812,327,000. California State Teachers Retirement System raised its holdings in shares of Halliburton by 2,886.3% in the second quarter. California State Teachers Retirement System now owns 82,808,973 shares of the oilfield services company’s stock valued at $2,811,365,000 after buying an additional 80,036,032 shares during the last quarter. State Street Corp raised its holdings in shares of Halliburton by 1.7% in 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 buying an additional 861,964 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Halliburton by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,097,164 shares of the oilfield services company’s stock worth $878,806,000 after buying an additional 443,064 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Halliburton Price Performance

HAL stock opened at $35.88 on Friday. The stock has a 50-day moving average price of $34.39 and a two-hundred day moving average price of $36.70. The stock has a market cap of $29.89 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 2.07 and a beta of 0.76. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64. Halliburton Company has a 1 year low of $21.46 and a 1 year high of $43.59.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.01. The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.55 EPS. Equities analysts forecast that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be paid a $0.17 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $0.68 annualized dividend and a yield of 1.9%. Halliburton’s payout ratio is presently 35.60%.

Insider Activity at Halliburton

In other news, COO Jeffrey Slocum sold 52,572 shares of Halliburton stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total value of $1,844,751.48. Following the sale, the chief operating officer directly owned 118,730 shares in the company, valued at $4,166,235.70. This trade represents a 30.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total transaction of $889,282.42. Following the completion of the sale, the chief financial officer directly owned 148,520 shares in the company, valued at approximately $5,330,382.80. This represents a 14.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. TD Cowen decreased their price objective on shares of Halliburton from $48.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Piper Sandler upgraded shares of Halliburton from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $40.00 to $43.00 in a research report on Tuesday, July 14th. Evercore reiterated an “outperform” rating and set a $43.00 target price on shares of Halliburton in a research report on Wednesday, July 22nd. Freedom Capital raised shares of Halliburton from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Susquehanna lowered their price target on shares of Halliburton from $45.00 to $42.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. Eighteen investment 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.10.

Halliburton Profile

Halliburton Company (NYSE: HAL) is a global provider of products and services for the energy industry. The company supports oil and natural gas exploration, development and production across the life cycle of a well, serving both independent and national oil companies.

Halliburton operates through two principal business segments: Completion and Production, which provides cementing, stimulation, intervention and completion services; and Drilling and Evaluation, which offers drilling services, formation evaluation, well construction, project management and related technologies.