Calamos Advisors LLC Sells 388,400 Shares of Halliburton Company $HAL

Calamos Advisors LLC lessened its holdings in Halliburton Company (NYSE:HAL) by 59.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 269,500 shares of the oilfield services company’s stock after selling 388,400 shares during the period. Calamos Advisors LLC’s holdings in Halliburton were worth $10,508,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of HAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Halliburton by 7.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company’s stock valued at $2,353,000 after buying an additional 6,507 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Halliburton by 39.0% during the 1st quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company’s stock worth $1,861,000 after acquiring an additional 20,583 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Halliburton by 25.0% during the 1st quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company’s stock worth $1,320,000 after acquiring an additional 10,408 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Halliburton by 309.1% during the 1st quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company’s stock valued at $1,749,000 after acquiring an additional 52,092 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Halliburton during the 1st quarter valued at about $895,000. 85.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Stifel Nicolaus reissued a “buy” rating and issued a $43.00 price objective (up from $36.00) on shares of Halliburton in a research note on Wednesday, April 22nd. Susquehanna decreased their target price on Halliburton from $45.00 to $42.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. HSBC increased their price target on Halliburton from $40.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Griffin Securities raised shares of 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, Citigroup boosted their price objective on shares of Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Nineteen 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.32.

Insider Transactions at Halliburton

In other Halliburton news, insider Michael Casey Maxwell sold 20,348 shares of the firm’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 completion of the sale, the insider owned 93,763 shares in the company, valued at approximately $3,927,732.07. This trade represents a 17.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 that occurred on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total value of $889,282.42. Following the completion of the sale, the chief financial officer owned 148,520 shares of the company’s stock, valued at $5,330,382.80. This represents a 14.30% 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. Over the last 90 days, insiders have sold 258,255 shares of company stock worth $10,550,535. 0.57% of the stock is currently owned by company insiders.

Key Stories Impacting Halliburton

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton won major integrated drilling and completions work from TotalEnergies for the GranMorgu deepwater project offshore Suriname, a long-term contract that adds to future revenue visibility and highlights demand for its higher-value oilfield services. Halliburton Wins Integrated Drilling and Completions Contracts for Granmorgu Deepwater Project Offshore Suriname, Operated by Totalenergies
• Positive Sentiment: Rising geopolitical tension between the U.S. and Iran has pushed oil prices higher, which tends to support upstream spending and sentiment toward oilfield services names like HAL. Fresh U.S.-Iran Conflicts Could Extend Energy Rally: 2 Bargains Remain
• Positive Sentiment: Piper Sandler reportedly raised its view on Halliburton alongside Patterson-UTI, suggesting analysts see continued upside after a volatile year-to-date move. Halliburton, Patterson-UTI Raised at Piper Sandler Following Volatile YTD
• Neutral Sentiment: Several recent headlines reiterated that Halliburton is scheduled to report earnings soon, keeping the stock in focus ahead of the print. Halliburton (HAL) Projected to Post Earnings on Tuesday

Halliburton Stock Performance

NYSE:HAL opened at $35.46 on Wednesday. The firm’s 50-day moving average is $37.98 and its 200-day moving average is $36.18. Halliburton Company has a 52-week low of $20.17 and a 52-week high of $43.59. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08. The company has a market cap of $29.62 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.52 and a beta of 0.71.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The business had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts anticipate that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.68 annualized dividend and a yield of 1.9%. Halliburton’s dividend payout ratio is 37.36%.

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.