Pzena Investment Management LLC Decreases Stock Position in Halliburton Company $HAL

Pzena Investment Management LLC lowered its stake in Halliburton Company (NYSE:HAL) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,333,743 shares of the oilfield services company’s stock after selling 12,853 shares during the period. Pzena Investment Management LLC’s holdings in Halliburton were worth $150,732,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of HAL. Capital Research Global Investors increased its holdings in shares of Halliburton by 81.8% in the third quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company’s stock worth $2,239,349,000 after buying an additional 40,969,139 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Halliburton by 82,596.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after purchasing an additional 29,735,387 shares during the period. Strive Asset Management LLC purchased a new position in Halliburton during the 3rd quarter valued at about $418,738,000. Holocene Advisors LP purchased a new position in Halliburton during the 3rd quarter valued at about $147,315,000. Finally, AQR Capital Management LLC increased its holdings in Halliburton by 85.5% during the 2nd quarter. AQR Capital Management LLC now owns 8,610,870 shares of the oilfield services company’s stock valued at $175,490,000 after purchasing an additional 3,969,759 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HAL shares. Piper Sandler boosted their price target on Halliburton from $34.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Susquehanna boosted their price target on Halliburton from $40.00 to $45.00 and gave the company a “positive” rating in a report on Tuesday, April 7th. Barclays upgraded Halliburton from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $37.00 to $55.00 in a report on Thursday, May 7th. UBS Group boosted their price target on Halliburton from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday, April 7th. Finally, BMO Capital Markets boosted their price target on Halliburton from $42.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Eighteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and a consensus price target of $42.86.

Insider Transactions at Halliburton

In other news, insider Michael Casey Maxwell sold 20,348 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $41.89, for a total value of $852,377.72. Following the sale, the insider directly owned 93,763 shares of the company’s stock, valued at $3,927,732.07. The trade was a 17.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Timothy Mckeon sold 8,655 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $42.00, for a total value of $363,510.00. Following the completion of the sale, the vice president directly owned 72,976 shares in the company, valued at approximately $3,064,992. This represents a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 420,837 shares of company stock worth $16,979,135. Company insiders own 0.57% of the company’s stock.

Halliburton Stock Performance

Shares of HAL opened at $42.03 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.08 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average price is $38.88 and its 200-day moving average price is $33.60. Halliburton Company has a 52 week low of $19.38 and a 52 week high of $43.59. The stock has a market cap of $35.11 billion, a P/E ratio of 23.09, a P/E/G ratio of 1.85 and a beta of 0.73.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The firm had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the previous year, the firm posted $0.60 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts anticipate that Halliburton Company will post 2.32 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, June 3rd. Halliburton’s payout ratio is currently 37.36%.

Halliburton News Roundup

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton declared a quarterly dividend of $0.17 per share, reinforcing its shareholder-return story and signaling confidence in cash generation. Halliburton Announces Dividend
• Positive Sentiment: Capital One raised its price target on Halliburton to $50 from $41 and reiterated an overweight rating, suggesting upside from current levels. Capital One adjusts price target on Halliburton
• Positive Sentiment: Halliburton unveiled its Xaminer Deep Testing service, a new reservoir evaluation tool that could support future product demand and strengthen its technology offering. HAL Unveils Next-Generation Solution for Challenging Reservoirs
• Positive Sentiment: Recent commentary noted HAL is up about 8.2% since its last earnings report, reflecting improved sentiment after results that beat expectations. Halliburton (HAL) Up 8.2% Since Last Earnings Report: Can It Continue?
• Neutral Sentiment: Halliburton shareholders approved the board, auditor, and compensation plans at the annual meeting, which removes some governance uncertainty but is unlikely to move the stock by itself. Halliburton Shareholders Back Board, Auditor and Compensation Plans
• Neutral Sentiment: News that Halliburton CEO Jeff Miller will join Noble Corporation’s board is more of an industry-side development than a direct catalyst for HAL shares. Noble Corporation plc Announces New Director Appointment

Halliburton Company 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.