Monaco Asset Management SAM Purchases 65,000 Shares of Halliburton Company $HAL

Monaco Asset Management SAM boosted its holdings in shares of Halliburton Company (NYSE:HAL) by 65.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,000 shares of the oilfield services company’s stock after purchasing an additional 65,000 shares during the period. Halliburton accounts for approximately 0.2% of Monaco Asset Management SAM’s holdings, making the stock its 25th largest holding. Monaco Asset Management SAM’s holdings in Halliburton were worth $4,059,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HAL. Norges Bank acquired a new stake in shares of Halliburton in the 2nd quarter valued at $109,379,000. AQR Capital Management LLC raised its position in shares of Halliburton by 85.5% during the 2nd quarter. AQR Capital Management LLC now owns 8,610,870 shares of the oilfield services company’s stock valued at $175,490,000 after acquiring an additional 3,969,759 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Halliburton by 762.7% in the 2nd quarter. Schroder Investment Management Group now owns 3,265,132 shares of the oilfield services company’s stock valued at $66,543,000 after purchasing an additional 2,886,666 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Halliburton by 23.1% in the 3rd quarter. Pacer Advisors Inc. now owns 10,154,605 shares of the oilfield services company’s stock valued at $249,803,000 after purchasing an additional 1,906,724 shares during the period. Finally, Brandes Investment Partners LP boosted its position in shares of Halliburton by 37.7% in the 2nd quarter. Brandes Investment Partners LP now owns 6,625,668 shares of the oilfield services company’s stock worth $135,031,000 after purchasing an additional 1,814,649 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Buying and Selling at Halliburton

In related news, CEO Jeffrey Allen Miller sold 171,200 shares of the firm’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $34.96, for a total value of $5,985,152.00. Following the completion of the transaction, the chief executive officer owned 1,101,243 shares of the company’s stock, valued at approximately $38,499,455.28. This trade represents a 13.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Van H. Beckwith sold 54,348 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $34.96, for a total transaction of $1,900,006.08. Following the sale, the executive vice president directly owned 344,535 shares in the company, valued at $12,044,943.60. This trade represents a 13.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 337,002 shares of company stock worth $11,445,938. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley reissued an “overweight” rating and issued a $35.00 target price on shares of Halliburton in a research note on Wednesday, January 21st. Piper Sandler increased their price target on shares of Halliburton from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. BMO Capital Markets boosted their price objective on shares of Halliburton from $36.00 to $39.00 and gave the company a “market perform” rating in a report on Thursday, January 22nd. Jefferies Financial Group reiterated a “buy” rating and issued a $39.00 target price on shares of Halliburton in a report on Friday, February 6th. Finally, Rothschild & Co Redburn boosted their price target on shares of Halliburton from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Halliburton presently has an average rating of “Moderate Buy” and a consensus price target of $35.19.

Halliburton Price Performance

Shares of NYSE HAL opened at $35.14 on Friday. The firm has a market cap of $29.43 billion, a PE ratio of 23.27, a PEG ratio of 2.11 and a beta of 0.77. The company has a current ratio of 2.04, a quick ratio of 1.51 and a debt-to-equity ratio of 0.68. Halliburton Company has a 1-year low of $18.72 and a 1-year high of $35.85. The company has a fifty day moving average price of $31.83 and a 200 day moving average price of $26.98.

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

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.9%. Halliburton’s dividend payout ratio (DPR) is 45.03%.

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.