Halliburton (NYSE:HAL) CFO Sells $889,282.42 in Stock

Halliburton Company (NYSE:HAL) 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 completion of the sale, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at $5,330,382.80. The trade was a 14.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Halliburton Trading Down 3.3%

NYSE:HAL opened at $33.96 on Thursday. Halliburton Company has a 52 week low of $20.09 and a 52 week high of $43.59. The firm has a 50-day moving average price of $39.47 and a two-hundred day moving average price of $35.61. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08. The firm has a market cap of $28.37 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69.

Halliburton (NYSE:HAL) last announced its earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. The firm had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.37 billion. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The company’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. On average, equities analysts expect that Halliburton Company will post 2.34 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.68 annualized dividend and a yield of 2.0%. Halliburton’s payout ratio is currently 37.36%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HAL. Susquehanna raised their target price on Halliburton from $40.00 to $45.00 and gave the company a “positive” rating in a research report on Tuesday, April 7th. Jefferies Financial Group reissued a “buy” rating and issued a $47.00 price target on shares of Halliburton in a report on Sunday, April 26th. Capital One Financial increased their price target on shares of Halliburton from $41.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Weiss Ratings restated a “hold (c)” rating on shares of Halliburton in a research report on Friday, April 10th. Finally, Royal Bank Of Canada raised their price objective on shares of Halliburton from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.27.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HAL. Redwood Investment Management LLC purchased a new stake in Halliburton in the 1st quarter worth about $1,020,000. Farmers National Bank purchased a new stake in Halliburton during the first quarter valued at about $225,000. Parallel Advisors LLC lifted its holdings in Halliburton by 9.1% during the first quarter. Parallel Advisors LLC now owns 17,746 shares of the oilfield services company’s stock valued at $692,000 after purchasing an additional 1,477 shares during the last quarter. NewEdge Advisors LLC boosted its position in Halliburton by 25.8% during the first quarter. NewEdge Advisors LLC now owns 121,970 shares of the oilfield services company’s stock worth $4,756,000 after purchasing an additional 25,000 shares during the period. Finally, Carlson Capital L.P. bought a new position in Halliburton during the first quarter worth about $1,724,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

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.