Halliburton Company $HAL Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System raised its holdings in Halliburton Company (NYSE:HAL) by 2,886.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 82,808,973 shares of the oilfield services company’s stock after buying an additional 80,036,032 shares during the quarter. California State Teachers Retirement System owned about 0.10% of Halliburton worth $2,811,365,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors grew its stake in shares of Halliburton by 21.1% during the fourth quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock worth $3,114,848,000 after acquiring an additional 19,190,520 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Halliburton in the 2nd quarter valued at approximately $2,812,327,000. State Street Corp raised its position in shares of Halliburton by 1.7% in the 4th quarter. State Street Corp now owns 50,825,761 shares of the oilfield services company’s stock valued at $1,436,336,000 after purchasing an additional 861,964 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Halliburton by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,097,164 shares of the oilfield services company’s stock worth $878,806,000 after purchasing an additional 443,064 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Halliburton by 82,596.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock worth $841,339,000 after purchasing an additional 29,735,387 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on HAL. UBS Group dropped their target price on shares of Halliburton from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, July 27th. Capital One Financial raised their price target on shares of Halliburton from $41.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Piper Sandler upgraded shares of Halliburton from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $40.00 to $43.00 in a research note on Tuesday, July 14th. BMO Capital Markets set a $37.00 price objective on shares of Halliburton in a report on Wednesday, July 22nd. Finally, Wall Street Zen downgraded Halliburton from a “buy” rating to a “hold” rating in a research report on Monday, August 31st. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Halliburton presently has an average rating of “Moderate Buy” and a consensus price target of $43.10.

Insiders Place Their Bets

In other news, COO Jeffrey Slocum sold 52,572 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total value of $1,844,751.48. Following the sale, the chief operating officer owned 118,730 shares in the company, valued at $4,166,235.70. This represents a 30.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction, the chief financial officer directly owned 148,520 shares of the company’s stock, valued at approximately $5,330,382.80. This trade 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. 0.57% of the stock is owned by corporate insiders.

Halliburton Price Performance

Shares of NYSE HAL opened at $36.09 on Friday. The business’s 50 day moving average price is $34.34 and its 200 day moving average price is $36.71. The firm has a market cap of $30.07 billion, a P/E ratio of 18.90, a P/E/G ratio of 2.14 and a beta of 0.76. Halliburton Company has a 52 week low of $21.46 and a 52 week high of $43.59. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.01. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter in the prior year, the company earned $0.55 EPS. Halliburton’s quarterly revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts expect that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, September 2nd. Halliburton’s dividend payout ratio is 35.60%.

About Halliburton

Halliburton Company (NYSE: HAL) is a global provider of products and services for the energy industry. The company supports oil and natural gas exploration, development and production across the life cycle of a well, serving both independent and national oil companies.

Halliburton operates through two principal business segments: Completion and Production, which provides cementing, stimulation, intervention and completion services; and Drilling and Evaluation, which offers drilling services, formation evaluation, well construction, project management and related technologies.