Halliburton Company $HAL Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in Halliburton Company (NYSE:HAL) by 64.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 536,114 shares of the oilfield services company’s stock after selling 968,158 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of Halliburton worth $20,903,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of HAL. Northwestern Mutual Wealth Management Co. increased its stake in Halliburton by 82,596.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after purchasing an additional 29,735,387 shares during the period. Capital Research Global Investors grew its holdings in shares of Halliburton by 21.1% during the fourth quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock worth $3,114,848,000 after buying an additional 19,190,520 shares during the last quarter. Norges Bank acquired a new position in Halliburton in the 4th quarter valued at about $169,304,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in Halliburton by 12,413.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,163,259 shares of the oilfield services company’s stock valued at $162,325,000 after acquiring an additional 4,129,988 shares during the period. Finally, Canoe Financial LP purchased a new stake in Halliburton during the 1st quarter valued at approximately $158,525,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

More Halliburton News

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton signed a non-binding memorandum of understanding with Beetaloo Energy to support a proposed gas-to-power project linked to an artificial-intelligence data center in Australia’s Northern Territory. The opportunity could create future work in drilling, production and energy infrastructure, although it is not yet a firm contract. Reuters article
• Positive Sentiment: Brokerages maintain a consensus “Moderate Buy” recommendation for HAL, offering some support after the stock’s recent weakness. Halliburton consensus recommendation
• Neutral Sentiment: Halliburton stock rose in the latest session but continued to underperform the broader market, indicating that investors remain cautious despite the recent bounce. MarketWatch stock performance article
• Negative Sentiment: UBS said Halliburton’s soft third-quarter guidance is weighing on the stock. The cautious outlook raises concerns about weaker oilfield-services demand, pricing or international activity in the near term. UBS Halliburton outlook article

Halliburton Stock Performance

NYSE HAL opened at $32.22 on Friday. The stock has a market capitalization of $26.84 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 2.01 and a beta of 0.71. The business’s 50 day moving average is $35.88 and its two-hundred day moving average is $36.46. Halliburton Company has a 12-month low of $20.39 and a 12-month high of $43.59. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. The business had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $0.55 EPS. Research analysts expect that Halliburton Company will post 2.35 EPS for the current year.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd were paid a $0.17 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $0.68 annualized dividend and a dividend yield of 2.1%. Halliburton’s dividend payout ratio (DPR) is 35.60%.

Analyst Ratings Changes

HAL has been the subject of a number of recent research reports. Wolfe Research assumed coverage on Halliburton in a research report on Wednesday, July 8th. They set a “peer perform” rating for the company. Stifel Nicolaus restated a “buy” rating and set a $43.00 price target (up from $36.00) on shares of Halliburton in a research note on Wednesday, April 22nd. Argus decreased their price target on Halliburton from $45.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Wall Street Zen upgraded shares of Halliburton from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Piper Sandler raised shares of Halliburton from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $43.00 in a research note on Tuesday, July 14th. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.10.

Insider Activity at Halliburton

In related news, EVP Van H. Beckwith sold 198,349 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $41.29, for a total transaction of $8,189,830.21. Following the sale, the executive vice president owned 146,186 shares of the company’s stock, valued at approximately $6,036,019.94. The trade was a 57.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $35.89, for a total transaction of $889,282.42. Following the transaction, the chief financial officer owned 148,520 shares in the company, valued at $5,330,382.80. The trade was a 14.30% 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. Insiders sold 243,475 shares of company stock worth $9,931,490 over the last 90 days. Company insiders own 0.57% of the company’s stock.

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.