Pacer Advisors Inc. Has $108.14 Million Stock Holdings in Halliburton Company $HAL

Pacer Advisors Inc. decreased its holdings in shares of Halliburton Company (NYSE:HAL) by 62.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,826,632 shares of the oilfield services company’s stock after selling 6,327,973 shares during the period. Pacer Advisors Inc.’s holdings in Halliburton were worth $108,141,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in HAL. Nvest Wealth Strategies Inc. bought a new stake in Halliburton in the fourth quarter worth approximately $25,000. Kelleher Financial Advisors bought a new stake in Halliburton in the third quarter valued at $25,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Halliburton during the second quarter valued at about $25,000. Zions Bancorporation National Association UT boosted its holdings in Halliburton by 196.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock worth $28,000 after acquiring an additional 650 shares in the last quarter. Finally, Strive Asset Management LLC bought a new position in shares of Halliburton in the 3rd quarter worth $31,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Stifel Nicolaus reissued a “buy” rating and set a $43.00 target price (up from $36.00) on shares of Halliburton in a research report on Wednesday, April 22nd. Piper Sandler raised their price target on shares of Halliburton from $34.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Halliburton in a research note on Friday, April 10th. Citigroup boosted their price objective on Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Finally, Wall Street Zen downgraded Halliburton from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 3rd. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Halliburton has an average rating of “Moderate Buy” and an average target price of $43.27.

Insider Activity

In related news, Director Tobi M. Young sold 6,125 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $41.72, for a total transaction of $255,535.00. Following the completion of the sale, the director directly owned 15,250 shares of the company’s stock, valued at approximately $636,230. This trade represents a 28.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Van H. Beckwith sold 198,349 shares of Halliburton 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 sale, the executive vice president owned 146,186 shares in the company, valued at $6,036,019.94. This trade represents a 57.57% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 391,932 shares of company stock worth $15,999,453. Corporate insiders own 0.57% of the company’s stock.

Halliburton Stock Performance

Shares of HAL stock opened at $34.93 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54. The firm has a 50-day moving average of $39.72 and a 200-day moving average of $35.39. Halliburton Company has a one year low of $20.09 and a one year high of $43.59. The company has a market cap of $29.18 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.57 and a beta of 0.69.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the previous year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts forecast that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Dividend Announcement

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

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.