Halliburton (NYSE:HAL) Shares Sold by Retirement Systems of Alabama

Posted by Defense World Staff on Jul 24th, 2023

Retirement Systems of Alabama trimmed its position in Halliburton (NYSE:HAL – Free Report) by 8.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 267,219 shares of the oilfield services company’s stock after selling 23,684 shares during the period. Retirement Systems of Alabama’s holdings in Halliburton were worth $8,455,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Clear Street Markets LLC acquired a new position in Halliburton in the fourth quarter valued at approximately $336,000. Highland Capital Management LLC acquired a new position in shares of Halliburton during the fourth quarter worth approximately $356,000. Cibc World Markets Corp boosted its position in shares of Halliburton by 675.7% during the fourth quarter. Cibc World Markets Corp now owns 106,754 shares of the oilfield services company’s stock worth $4,201,000 after buying an additional 92,992 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Halliburton by 11.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 5,436 shares of the oilfield services company’s stock worth $214,000 after buying an additional 553 shares during the period. Finally, Stephens Inc. AR acquired a new position in shares of Halliburton during the fourth quarter worth approximately $311,000. 84.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HAL. StockNews.com downgraded Halliburton from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Susquehanna boosted their price objective on Halliburton from $42.00 to $44.00 and gave the stock a “positive” rating in a research report on Thursday. Stifel Nicolaus reduced their price objective on Halliburton from $49.00 to $48.00 in a research report on Wednesday, July 12th. Barclays dropped their target price on Halliburton from $58.00 to $49.00 in a report on Thursday. Finally, UBS Group dropped their target price on Halliburton from $49.00 to $46.00 in a report on Monday, July 3rd. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $47.47.

Halliburton Trading Up 1.3 %

NYSE HAL opened at $36.94 on Monday. Halliburton has a twelve month low of $23.30 and a twelve month high of $43.42. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.53 and a current ratio of 2.14. The stock has a market cap of $33.33 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.52 and a beta of 2.13. The firm’s 50 day moving average price is $32.63 and its two-hundred day moving average price is $34.47.

Halliburton (NYSE:HAL – Get Free Report) last posted its quarterly earnings results on Wednesday, July 19th. The oilfield services company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. Halliburton had a net margin of 10.98% and a return on equity of 31.01%. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same period in the previous year, the company posted $0.49 EPS. Halliburton’s revenue was up 14.3% on a year-over-year basis. Equities analysts anticipate that Halliburton will post 3.04 EPS for the current year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 28th. Stockholders of record on Wednesday, June 7th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Tuesday, June 6th. Halliburton’s dividend payout ratio is currently 23.53%.

Insider Activity

In other news, SVP Jill D. Sharp sold 3,686 shares of the business’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $38.00, for a total transaction of $140,068.00. Following the transaction, the senior vice president now directly owns 52,109 shares in the company, valued at approximately $1,980,142. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Jeffrey Allen Miller sold 271,283 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $30.25, for a total value of $8,206,310.75. Following the completion of the sale, the chief executive officer now directly owns 829,230 shares in the company, valued at $25,084,207.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jill D. Sharp sold 3,686 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $38.00, for a total transaction of $140,068.00. Following the completion of the sale, the senior vice president now owns 52,109 shares of the company’s stock, valued at $1,980,142. The disclosure for this sale can be found here. Insiders have sold a total of 353,623 shares of company stock worth $11,046,183 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Halliburton Company Profile

(Free Report)

Halliburton Company provides products and services to the energy industry worldwide. It operates in two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.