Halliburton Company $HAL Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its holdings in Halliburton Company (NYSE:HAL) by 6.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 440,080 shares of the oilfield services company’s stock after acquiring an additional 27,427 shares during the period. Pictet Asset Management Holding SA’s holdings in Halliburton were worth $13,995,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of Nova Scotia lifted its stake in shares of Halliburton by 128.8% during the first quarter. Bank of Nova Scotia now owns 2,284,612 shares of the oilfield services company’s stock worth $89,077,000 after purchasing an additional 1,286,095 shares in the last quarter. Private Advisory Group LLC purchased a new stake in shares of Halliburton in the second quarter worth about $10,443,000. Carrhae Capital LLP grew its stake in shares of Halliburton by 21.5% in the second quarter. Carrhae Capital LLP now owns 726,193 shares of the oilfield services company’s stock valued at $24,654,000 after buying an additional 128,472 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Halliburton by 18.1% in the second quarter. Envestnet Asset Management Inc. now owns 961,660 shares of the oilfield services company’s stock valued at $32,648,000 after buying an additional 147,329 shares in the last quarter. Finally, Rokos Capital Management LLP acquired a new stake in shares of Halliburton in the first quarter valued at about $34,741,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Transactions at Halliburton

In other Halliburton news, COO Jeffrey Slocum sold 52,572 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total value of $1,844,751.48. Following the transaction, the chief operating officer directly owned 118,730 shares of the company’s stock, valued at $4,166,235.70. This represents a 30.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is owned by corporate insiders.

Halliburton Stock Down 0.5%

Shares of Halliburton stock opened at $32.75 on Friday. Halliburton Company has a 1-year low of $24.92 and a 1-year high of $43.59. The company has a market capitalization of $27.09 billion, a PE ratio of 13.70, a P/E/G ratio of 1.91 and a beta of 0.76. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.02 and a quick ratio of 1.48. The business has a 50-day moving average of $33.74 and a 200-day moving average of $35.73.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, October 20th. The oilfield services company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.58 billion. Halliburton had a return on equity of 18.36% and a net margin of 8.90%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 earnings per share. As a group, equities analysts forecast that Halliburton Company will post 2.33 EPS for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 23rd. Shareholders of record on Wednesday, December 2nd will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, December 2nd. This represents a $0.68 annualized dividend and a yield of 2.1%. Halliburton’s payout ratio is currently 28.45%.

Wall Street Analysts Forecast Growth

HAL has been the topic of several recent research reports. TD Cowen reissued a “buy” rating on shares of Halliburton in a research report on Tuesday, October 20th. Morgan Stanley lowered their price objective on shares of Halliburton from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Freedom Broker raised shares of Halliburton from a “hold” rating to a “buy” rating and increased their price objective for the company from $37.00 to $40.00 in a research report on Thursday, October 22nd. Barclays dropped their price objective on shares of Halliburton from $53.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 21st. Finally, Piper Sandler reduced their target price on shares of Halliburton from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Eighteen 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.86.

Halliburton Company Profile

Halliburton Company (NYSE: HAL) is a global provider of products and services for the energy industry. The company supports the exploration, development, and production of oil and natural gas through technologies and services used throughout the life cycle of a well. Halliburton operates through two primary business segments: Completion and Production, and Drilling and Evaluation. Its offerings include cementing, stimulation, well completion, production enhancement, drilling services, drilling fluids, well testing, wireline and perforating services, formation evaluation, and project management.