27,427 Halliburton Company $HAL Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its position in Halliburton Company (NYSE:HAL) by 6.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 440,080 shares of the oilfield services company’s stock after purchasing an additional 27,427 shares during the period. Pictet Asset Management Holding SA owned about 0.05% of Halliburton worth $13,995,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Halliburton in the second quarter valued at approximately $2,812,327,000. State Street Corp boosted its position in Halliburton by 4.5% during the second quarter. State Street Corp now owns 56,870,444 shares of the oilfield services company’s stock worth $1,930,752,000 after acquiring an additional 2,463,137 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Halliburton by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 9,502,988 shares of the oilfield services company’s stock worth $370,556,000 after acquiring an additional 367,701 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Halliburton in the 2nd quarter worth approximately $345,941,000. Finally, Bank of New York Mellon Corp purchased a new stake in Halliburton in the 2nd quarter worth approximately $337,486,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Halliburton Stock Down 0.5%

Shares of HAL opened at $32.75 on Friday. Halliburton Company has a fifty-two week low of $24.92 and a fifty-two week high of $43.59. The company’s fifty day moving average is $33.74 and its two-hundred day moving average is $35.73. The firm has a market cap of $27.09 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 1.91 and a beta of 0.76. The company has a quick ratio of 1.48, a current ratio of 2.02 and a debt-to-equity ratio of 0.63.

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

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Shareholders of record on Wednesday, December 2nd will be paid 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 dividend payout ratio is currently 28.45%.

Insider Activity at Halliburton

In other news, COO Jeffrey Slocum sold 52,572 shares of the firm’s stock in a transaction dated 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 in the company, valued at $4,166,235.70. This trade represents a 30.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HAL. Evercore reiterated an “outperform” rating and issued a $43.00 price target on shares of Halliburton in a report on Wednesday, July 22nd. Piper Sandler lowered their price objective on Halliburton from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Freedom Capital raised Halliburton from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Halliburton in a research note on Friday, October 2nd. Finally, Barclays reduced their target price on Halliburton from $53.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 21st. Eighteen equities research 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.86.

About Halliburton

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.