Osmosis Investment Management UK Ltd Takes Position in Halliburton Company $HAL

Osmosis Investment Management UK Ltd purchased a new stake in Halliburton Company (NYSE:HAL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 24,414 shares of the oilfield services company’s stock, valued at approximately $829,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its holdings in shares of Halliburton by 21.1% during the 4th quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock worth $3,114,848,000 after acquiring an additional 19,190,520 shares during the period. BlackRock Inc. purchased a new stake in shares of Halliburton in the second quarter valued at about $2,812,327,000. State Street Corp grew its holdings in shares of Halliburton by 1.7% in the fourth quarter. State Street Corp now owns 50,825,761 shares of the oilfield services company’s stock valued at $1,436,336,000 after purchasing an additional 861,964 shares during the period. Charles Schwab Investment Management Inc. increased its position in Halliburton by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,097,164 shares of the oilfield services company’s stock worth $878,806,000 after purchasing an additional 443,064 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Halliburton by 82,596.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock worth $841,339,000 after purchasing an additional 29,735,387 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Stock Down 2.0%

Shares of HAL opened at $34.63 on Tuesday. The company’s 50-day simple moving average is $33.88 and its 200-day simple moving average is $36.54. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.50 and a current ratio of 2.02. Halliburton Company has a 1 year low of $21.40 and a 1 year high of $43.59. The stock has a market capitalization of $28.85 billion, a PE ratio of 18.13, a P/E/G ratio of 2.21 and a beta of 0.73.

Halliburton (NYSE:HAL) last announced its quarterly earnings data 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 firm had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter in the previous year, the business posted $0.55 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. Analysts forecast that Halliburton Company will post 2.34 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, September 2nd. Halliburton’s dividend payout ratio (DPR) is currently 35.60%.

Analyst Ratings Changes

Several equities analysts have weighed in on HAL shares. Evercore reiterated an “outperform” rating and issued a $43.00 target price on shares of Halliburton in a report on Wednesday, July 22nd. Wolfe Research initiated coverage on shares of Halliburton in a report on Wednesday, July 8th. They set a “peer perform” rating for the company. Piper Sandler raised shares of Halliburton from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $40.00 to $43.00 in a research report on Tuesday, July 14th. Morgan Stanley decreased their price objective on Halliburton from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Finally, Rothschild & Co Redburn increased their price objective on Halliburton from $40.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.10.

Insider Buying and Selling at Halliburton

In other Halliburton news, CFO Eric Carre sold 24,778 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $35.89, for a total value of $889,282.42. Following the completion of 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. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jeffrey Shannon Slocum sold 52,572 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total value of $1,844,751.48. Following the sale, the chief operating officer directly owned 118,730 shares in the company, valued at $4,166,235.70. This represents a 30.69% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.57% 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.