Halliburton Company $HAL Shares Acquired by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt increased its stake in Halliburton Company (NYSE:HAL) by 332.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,875 shares of the oilfield services company’s stock after purchasing an additional 22,200 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Halliburton were worth $1,126,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vermillion Wealth Management Inc. increased its position in Halliburton by 24.8% in the fourth quarter. Vermillion Wealth Management Inc. now owns 1,456 shares of the oilfield services company’s stock worth $41,000 after buying an additional 289 shares during the period. Coldstream Capital Management Inc. boosted its holdings in shares of Halliburton by 1.5% during the fourth quarter. Coldstream Capital Management Inc. now owns 23,312 shares of the oilfield services company’s stock valued at $659,000 after acquiring an additional 349 shares during the period. Harbour Investments Inc. grew its position in shares of Halliburton by 7.3% during the fourth quarter. Harbour Investments Inc. now owns 5,320 shares of the oilfield services company’s stock worth $150,000 after acquiring an additional 361 shares during the last quarter. Kingsview Wealth Management LLC grew its position in shares of Halliburton by 3.7% during the fourth quarter. Kingsview Wealth Management LLC now owns 10,363 shares of the oilfield services company’s stock worth $293,000 after acquiring an additional 365 shares during the last quarter. Finally, Fidelis Capital Partners LLC increased its holdings in shares of Halliburton by 1.7% in the 4th quarter. Fidelis Capital Partners LLC now owns 22,517 shares of the oilfield services company’s stock worth $636,000 after acquiring an additional 371 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Activity at Halliburton

In other news, EVP Van H. Beckwith sold 198,349 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $41.29, for a total value of $8,189,830.21. Following the completion of the sale, the executive vice president owned 146,186 shares in the company, valued at $6,036,019.94. This represents a 57.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $42.00, for a total value of $363,510.00. Following the transaction, 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 sold 258,255 shares of company stock worth $10,550,535 in the last quarter. Company insiders own 0.57% of the company’s stock.

Halliburton Stock Down 0.4%

HAL stock opened at $35.27 on Thursday. The firm’s 50-day moving average is $37.88 and its two-hundred day moving average is $36.24. The company has a market capitalization of $29.46 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 1.53 and a beta of 0.71. Halliburton Company has a 52 week low of $20.17 and a 52 week high of $43.59. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.65.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.05. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The business had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the firm posted $0.60 earnings per share. The business’s revenue was down .3% on a year-over-year basis. On average, analysts forecast that Halliburton Company will post 2.35 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, June 3rd. Halliburton’s dividend payout ratio (DPR) is presently 37.36%.

Key Halliburton News

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton won a multiyear, multibillion-dollar contract from Saudi Aramco to provide integrated stimulation and completion services for a major unconventional gas development in Saudi Arabia, a significant revenue opportunity that reinforces demand for its core oilfield services. Aramco Awards Halliburton Long-Term Contract for Unconventional Gas Program
• Positive Sentiment: The company also secured a long-term drilling and completions contract for TotalEnergies’ GranMorgu offshore Suriname project, adding to expectations for stronger future backlog and international growth. Halliburton Wins Contract for TotalEnergies’ Offshore Suriname Project
• Positive Sentiment: Market commentary highlighted Halliburton as one of the oilfield-services names that still looks attractively valued after recent volatility, with higher oil prices and sector momentum potentially supporting sentiment. Fresh U.S.-Iran Conflicts Could Extend Energy Rally: 2 Bargains Remain
• Neutral Sentiment: Halliburton is also drawing attention from Ghana’s Petroleum Commission for support related to future oil workforce development, which is positive for the company’s regional relationships but not likely to move earnings near term. Petroleum Commission secures Halliburton support for Ghana’s future oil workforce
• Negative Sentiment: Bigger-picture energy-sector weakness and analyst warnings about near-term uncertainty in oilfield services are weighing on the group, limiting how far HAL can rally on the contract news alone. Oilfield Services Sector Faces Near-Term Uncertainty; Q2 Season to Be ‘Tricky,’ BofA Securities Says
• Negative Sentiment: Energy stocks were broadly weaker in Wednesday trading, creating a sector-level headwind for Halliburton despite its company-specific contract wins. Sector Update: Energy Stocks Fall Wednesday Afternoon

Analysts Set New Price Targets

A number of research firms have issued reports on HAL. Griffin Securities raised shares of Halliburton from a “neutral” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Wednesday, April 22nd. BMO Capital Markets raised their price target on shares of Halliburton from $42.00 to $45.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Zephirin Group lifted their price target on Halliburton from $30.00 to $31.00 and gave the company a “sell” rating in a report on Wednesday, April 22nd. Argus boosted their price objective on Halliburton from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, HSBC raised their target price on Halliburton from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Nineteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.27.

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.