57,078 Shares in Halliburton Company $HAL Bought by Convergence Investment Partners LLC

Convergence Investment Partners LLC acquired a new position in shares of Halliburton Company (NYSE:HAL) in the fourth quarter, Holdings Channel.com reports. The firm acquired 57,078 shares of the oilfield services company’s stock, valued at approximately $1,613,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its position in Halliburton by 81.8% during the third quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company’s stock worth $2,239,349,000 after acquiring an additional 40,969,139 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Halliburton by 82,596.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock worth $841,339,000 after acquiring an additional 29,735,387 shares during the period. Sanders Capital LLC raised its position in Halliburton by 9.4% during the third quarter. Sanders Capital LLC now owns 26,004,682 shares of the oilfield services company’s stock worth $639,715,000 after acquiring an additional 2,238,983 shares during the period. Strive Asset Management LLC acquired a new position in Halliburton during the third quarter worth $418,738,000. Finally, AQR Capital Management LLC raised its position in Halliburton by 85.5% during the second quarter. AQR Capital Management LLC now owns 8,610,870 shares of the oilfield services company’s stock worth $175,490,000 after acquiring an additional 3,969,759 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Price Performance

Shares of NYSE HAL opened at $41.71 on Friday. The firm has a 50-day simple moving average of $38.24 and a 200-day simple moving average of $33.12. The stock has a market capitalization of $34.85 billion, a price-to-earnings ratio of 22.92, a price-to-earnings-growth ratio of 1.81 and a beta of 0.73. The company has a quick ratio of 1.54, a current ratio of 2.08 and a debt-to-equity ratio of 0.65. Halliburton Company has a 52 week low of $19.38 and a 52 week high of $42.46.

Halliburton (NYSE:HAL) last issued its earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The business had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. On average, equities analysts predict that Halliburton Company will post 2.32 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.6%. Halliburton’s dividend payout ratio is currently 37.36%.

Insider Transactions at Halliburton

In related news, insider Michael Casey Maxwell sold 20,348 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $41.89, for a total value of $852,377.72. Following the completion of the sale, the insider owned 93,763 shares of the company’s stock, valued at approximately $3,927,732.07. This represents a 17.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Timothy Mckeon sold 8,655 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $42.00, for a total transaction of $363,510.00. Following the completion of the sale, the vice president directly owned 72,976 shares of the company’s stock, valued at $3,064,992. This represents a 10.60% decrease in their position. 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. Insiders have sold a total of 222,488 shares of company stock valued at $8,789,305 in the last three months. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

HAL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group upped their price objective on shares of Halliburton from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Argus upped their price objective on shares of Halliburton from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Jefferies Financial Group restated a “buy” rating and set a $47.00 price objective on shares of Halliburton in a research report on Sunday, April 26th. Finally, Piper Sandler upped their price objective on shares of Halliburton from $34.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Halliburton presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.45.

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.