Meiji Yasuda Asset Management Co Ltd. Makes New $660,000 Investment in Halliburton Company $HAL

Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Halliburton Company (NYSE:HAL) during the second quarter, HoldingsChannel.com reports. The firm acquired 19,453 shares of the oilfield services company’s stock, valued at approximately $660,000.

Several other institutional investors have also modified their holdings of the stock. Kelleher Financial Advisors purchased a new position in shares of Halliburton in the 3rd quarter worth approximately $25,000. Newbridge Financial Services Group Inc. purchased a new stake in Halliburton during the 2nd quarter valued at $25,000. Kilter Group LLC purchased a new stake in Halliburton during the 2nd quarter valued at $26,000. Meeder Asset Management Inc. bought a new stake in Halliburton in the second quarter worth $26,000. Finally, Silvant Capital Management LLC bought a new stake in Halliburton in the second quarter worth $28,000. 85.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HAL has been the topic of a number of analyst reports. Evercore reiterated an “outperform” rating and set a $43.00 price objective on shares of Halliburton in a research report on Wednesday, July 22nd. BMO Capital Markets set a $37.00 target price on shares of Halliburton in a report on Wednesday, July 22nd. Piper Sandler raised shares of Halliburton from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $40.00 to $43.00 in a research note on Tuesday, July 14th. Morgan Stanley cut their price target on shares of Halliburton from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Finally, Wall Street Zen raised shares of Halliburton from a “hold” rating to a “buy” rating in a research report on Sunday. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Halliburton currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.10.

Insider Transactions at Halliburton

In other Halliburton news, COO Jeffrey Shannon Slocum sold 52,572 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief operating officer directly owned 118,730 shares of the company’s stock, valued at $4,166,235.70. The trade was a 30.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $35.89, for a total transaction of $889,282.42. Following the completion of the transaction, the chief financial officer owned 148,520 shares in the company, valued at $5,330,382.80. This represents a 14.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.57% of the company’s stock.

Halliburton Stock Performance

Shares of Halliburton stock opened at $33.85 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64. The stock’s fifty day moving average is $33.81 and its two-hundred day moving average is $36.53. Halliburton Company has a 52 week low of $21.40 and a 52 week high of $43.59. The company has a market capitalization of $28.20 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 2.17 and a beta of 0.73.

Halliburton (NYSE:HAL) last released its 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. The business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share. As a group, analysts expect that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. Halliburton’s dividend payout ratio (DPR) is presently 35.60%.

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.