Investors Buy Shares of Halliburton (HAL) on Weakness After Insider Selling
Traders bought shares of Halliburton Company (NYSE:HAL) on weakness during trading hours on Tuesday following insider selling activity. $96.90 million flowed into the stock on the tick-up and $56.33 million flowed out of the stock on the tick-down, for a money net flow of $40.57 million into the stock. Of all equities tracked, Halliburton had the 14th highest net in-flow for the day. Halliburton traded down ($0.18) for the day and closed at $52.11Specifically, VP Anne L. Beaty sold 1,245 shares of Halliburton stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $51.50, for a total value of $64,117.50. Following the transaction, the vice president now owns 60,839 shares of the company’s stock, valued at $3,133,208.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Robb L. Voyles sold 5,000 shares of Halliburton stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $48.85, for a total transaction of $244,250.00. Following the completion of the transaction, the executive vice president now directly owns 220,938 shares in the company, valued at approximately $10,792,821.30. The disclosure for this sale can be found here. Insiders sold 141,612 shares of company stock valued at $6,556,433 over the last quarter. Corporate insiders own 0.47% of the company’s stock.
HAL has been the topic of a number of recent analyst reports. Loop Capital reissued a “buy” rating and issued a $57.00 price target (down previously from $62.00) on shares of Halliburton in a research report on Tuesday, October 24th. Scotiabank reissued a “buy” rating and issued a $52.00 price target on shares of Halliburton in a research report on Wednesday, October 25th. JPMorgan Chase & Co. dropped their price target on shares of Halliburton from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 12th. Cowen set a $50.00 price target on shares of Halliburton and gave the company a “hold” rating in a research report on Friday, October 6th. Finally, Deutsche Bank initiated coverage on shares of Halliburton in a research report on Tuesday, October 10th. They issued a “buy” rating and a $54.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $57.36.
The company has a market capitalization of $45,470.00, a PE ratio of 217.13, a PEG ratio of 3.00 and a beta of 1.03. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.20 and a quick ratio of 1.67.
Halliburton (NYSE:HAL) last announced its earnings results on Monday, October 23rd. The oilfield services company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.04. Halliburton had a net margin of 1.13% and a return on equity of 6.93%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the previous year, the firm posted $0.01 earnings per share. Halliburton’s revenue was up 42.0% compared to the same quarter last year. analysts forecast that Halliburton Company will post 1.16 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Thursday, December 7th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Wednesday, December 6th. Halliburton’s dividend payout ratio (DPR) is currently 300.00%.
Institutional investors have recently made changes to their positions in the business. Estabrook Capital Management increased its holdings in Halliburton by 82.8% in the 2nd quarter. Estabrook Capital Management now owns 2,760 shares of the oilfield services company’s stock valued at $118,000 after buying an additional 1,250 shares during the period. YorkBridge Wealth Partners LLC increased its holdings in Halliburton by 243.3% in the 3rd quarter. YorkBridge Wealth Partners LLC now owns 3,165 shares of the oilfield services company’s stock valued at $146,000 after buying an additional 2,243 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in Halliburton in the 3rd quarter valued at $184,000. Neville Rodie & Shaw Inc. bought a new stake in Halliburton in the 3rd quarter valued at $202,000. Finally, Krilogy Financial LLC increased its holdings in Halliburton by 35.9% in the 2nd quarter. Krilogy Financial LLC now owns 4,588 shares of the oilfield services company’s stock valued at $196,000 after buying an additional 1,212 shares during the period. 79.79% of the stock is currently owned by hedge funds and other institutional investors.
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Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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