Sterling Capital Management LLC Lowers Stock Position in Halliburton Company $HAL

Sterling Capital Management LLC cut its holdings in shares of Halliburton Company (NYSE:HAL) by 45.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,261 shares of the oilfield services company’s stock after selling 23,266 shares during the period. Sterling Capital Management LLC’s holdings in Halliburton were worth $1,102,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of HAL. Pinnacle Wealth Management Advisory Group LLC bought a new position in Halliburton in the first quarter worth approximately $208,000. Wealth Effects LLC bought a new stake in Halliburton during the 1st quarter valued at $273,000. Wesbanco Bank Inc. boosted its position in Halliburton by 4.5% during the 1st quarter. Wesbanco Bank Inc. now owns 163,267 shares of the oilfield services company’s stock valued at $6,366,000 after acquiring an additional 7,049 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Halliburton in the 1st quarter valued at $1,665,000. Finally, Parkway Wealth Management Group LLC bought a new position in shares of Halliburton in the 1st quarter worth $330,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Trading Down 0.5%

Shares of NYSE:HAL opened at $33.93 on Wednesday. The business’s 50-day moving average is $39.20 and its 200 day moving average is $35.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54. Halliburton Company has a 1 year low of $20.09 and a 1 year high of $43.59. The firm has a market capitalization of $28.35 billion, a P/E ratio of 18.64, a P/E/G ratio of 1.47 and a beta of 0.69.

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

Halliburton Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 2.0%. Halliburton’s dividend payout ratio (DPR) is 37.36%.

Insider Activity at Halliburton

In other Halliburton news, VP Timothy Mckeon sold 8,655 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $42.00, for a total transaction of $363,510.00. Following the transaction, the vice president owned 72,976 shares in the company, valued at approximately $3,064,992. This represents a 10.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of the firm’s stock in a transaction on 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 approximately $5,330,382.80. This represents a 14.30% decrease in their position. 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 have sold 258,255 shares of company stock worth $10,550,535 in the last 90 days. 0.57% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HAL shares. BMO Capital Markets raised their price objective on Halliburton from $42.00 to $45.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Piper Sandler boosted their target price on shares of Halliburton from $34.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Wall Street Zen lowered shares of Halliburton from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 3rd. Capital One Financial raised their price target on shares of Halliburton from $41.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Finally, HSBC lifted their price objective on shares of Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Halliburton presently has an average rating of “Moderate Buy” and an average target price of $43.27.

Halliburton 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.