Resona Asset Management Co. Ltd. Has $7.35 Million Holdings in Halliburton Company $HAL

Resona Asset Management Co. Ltd. cut its stake in Halliburton Company (NYSE:HAL) by 6.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 260,147 shares of the oilfield services company’s stock after selling 19,003 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Halliburton were worth $7,347,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Nvest Wealth Strategies Inc. acquired a new position in shares of Halliburton in the 4th quarter worth approximately $25,000. Kelleher Financial Advisors bought a new stake in Halliburton during the 3rd quarter worth approximately $25,000. Cullen Frost Bankers Inc. bought a new stake in Halliburton during the 3rd quarter worth approximately $25,000. GoalVest Advisory LLC bought a new stake in Halliburton during the 4th quarter worth approximately $35,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Halliburton during the 2nd quarter worth approximately $25,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group increased their price target on Halliburton from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Citigroup increased their price target on Halliburton from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Griffin Securities upgraded Halliburton from a “neutral” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Wednesday, April 22nd. Finally, Wall Street Zen lowered Halliburton from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 3rd. Eighteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $42.86.

Insider Buying and Selling at Halliburton

In related news, EVP Van H. Beckwith sold 198,349 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $41.29, for a total transaction of $8,189,830.21. Following the sale, the executive vice president owned 146,186 shares of the company’s stock, valued at approximately $6,036,019.94. This trade represents a 57.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Tobi M. Young sold 6,125 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $41.72, for a total value of $255,535.00. Following the sale, the director directly owned 15,250 shares in the company, valued at $636,230. The trade was a 28.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 420,837 shares of company stock worth $16,979,135 in the last three months. 0.57% of the stock is owned by insiders.

Halliburton Price Performance

Shares of HAL opened at $42.03 on Friday. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.65. Halliburton Company has a 1 year low of $19.38 and a 1 year high of $43.59. The stock has a market cap of $35.11 billion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 1.85 and a beta of 0.73. The stock’s 50-day moving average price is $38.88 and its two-hundred day moving average price is $33.60.

Halliburton (NYSE:HAL) last issued its earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (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 quarter last year, the business earned $0.60 earnings per share. The company’s revenue was down .3% compared to the same quarter last year. On average, equities analysts predict that Halliburton Company will post 2.32 earnings per share for the current year.

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.