Munich Reinsurance Co Stock Corp in Munich Purchases Shares of 77,741 Halliburton Company $HAL

Munich Reinsurance Co Stock Corp in Munich acquired a new position in Halliburton Company (NYSE:HAL) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 77,741 shares of the oilfield services company’s stock, valued at approximately $2,639,000.

A number of other large investors have also recently made changes to their positions in the business. Meeder Asset Management Inc. purchased a new stake in Halliburton in the second quarter worth $26,000. Kilter Group LLC purchased a new position in Halliburton during the 2nd quarter valued at $26,000. Silvant Capital Management LLC purchased a new position in Halliburton during the 2nd quarter valued at $28,000. Matrix Trust Co bought a new position in Halliburton in the 2nd quarter worth $29,000. Finally, Zions Bancorporation National Association UT lifted its position in shares of Halliburton by 196.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock worth $28,000 after purchasing an additional 650 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets set a $37.00 target price on shares of Halliburton in a research note on Wednesday, July 22nd. UBS Group lowered their price objective on shares of Halliburton from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Halliburton in a research report on Wednesday, July 8th. Citigroup upped their target price on Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Finally, Rothschild & Co Redburn increased their target price on Halliburton from $40.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Eighteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.10.

Insider Buying and Selling at Halliburton

In related news, COO Jeffrey Slocum sold 52,572 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the sale, the chief operating officer directly owned 118,730 shares of the company’s stock, valued at approximately $4,166,235.70. This represents a 30.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of Halliburton 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 transaction, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at $5,330,382.80. This trade represents 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 own 0.57% of the company’s stock.

Halliburton Trading Down 0.6%

NYSE:HAL opened at $37.05 on Friday. The firm has a market capitalization of $30.87 billion, a P/E ratio of 19.40, a PEG ratio of 2.15 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.50. Halliburton Company has a one year low of $21.46 and a one year high of $43.59. The company’s 50-day simple moving average is $34.07 and its 200 day simple moving average is $36.63.

Halliburton (NYSE:HAL) last announced its earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter last year, the firm earned $0.55 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, analysts forecast that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.8%. Halliburton’s payout ratio is presently 35.60%.

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.