Halliburton Company $HAL Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its position in Halliburton Company (NYSE:HAL) by 14.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 213,871 shares of the oilfield services company’s stock after selling 35,604 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Halliburton were worth $6,801,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in Halliburton in the second quarter valued at approximately $26,000. Kilter Group LLC acquired a new position in Halliburton in the 2nd quarter worth approximately $26,000. Silvant Capital Management LLC acquired a new position in Halliburton in the 2nd quarter worth approximately $28,000. Matrix Trust Co purchased a new position in Halliburton during the 2nd quarter worth approximately $29,000. Finally, Reyes Financial Architecture Inc. purchased a new position in Halliburton during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Activity

In related news, COO Jeffrey Slocum sold 52,572 shares of Halliburton stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the transaction, the chief operating officer owned 118,730 shares in the company, valued at approximately $4,166,235.70. This trade represents a 30.69% decrease in their ownership of the stock. 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. 0.57% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

HAL has been the topic of a number of research reports. Wall Street Zen lowered shares of Halliburton from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Evercore restated an “outperform” rating and set a $43.00 target price on shares of Halliburton in a research report on Wednesday, July 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Halliburton in a research report on Friday, October 2nd. Piper Sandler lowered their price target on shares of Halliburton from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Finally, UBS Group cut their price target on Halliburton from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Thursday, October 22nd. Eighteen equities research 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.86.

Halliburton Stock Performance

HAL opened at $32.75 on Friday. Halliburton Company has a twelve month low of $24.92 and a twelve month high of $43.59. The firm has a market capitalization of $27.09 billion, a PE ratio of 13.78, a PEG ratio of 1.91 and a beta of 0.76. The company has a current ratio of 2.02, a quick ratio of 1.48 and a debt-to-equity ratio of 0.63. The firm’s 50-day moving average price is $33.74 and its 200 day moving average price is $35.73.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Tuesday, October 20th. The oilfield services company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Halliburton had a net margin of 8.90% and a return on equity of 18.36%. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.58 billion. During the same quarter in the prior year, the firm earned $0.58 EPS. Halliburton’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts expect that Halliburton Company will post 2.33 EPS for the current fiscal year.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Stockholders of record on Wednesday, December 2nd will be given a $0.17 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.1%. Halliburton’s dividend payout ratio is 28.45%.

About Halliburton

Halliburton Company (NYSE: HAL) is a global provider of products and services for the energy industry. The company supports the exploration, development, and production of oil and natural gas through technologies and services used throughout the life cycle of a well. Halliburton operates through two primary business segments: Completion and Production, and Drilling and Evaluation. Its offerings include cementing, stimulation, well completion, production enhancement, drilling services, drilling fluids, well testing, wireline and perforating services, formation evaluation, and project management.