Key Points
- Halliburton EVP Van Beckwith sold 198,349 shares on May 15 at an average price of $41.29, totaling about $8.19 million. After the sale, he still held 146,186 shares, and the transaction was made under a pre-arranged Rule 10b5-1 plan.
- Halliburton reported solid quarterly results, posting EPS of $0.55 versus the $0.50 consensus estimate and revenue of $5.40 billion, slightly above expectations. The company’s revenue was essentially flat year over year, while analysts now expect full-year EPS of 2.32.
- Analysts remain constructive on HAL, with several firms raising price targets and Barclays upgrading the stock to overweight. MarketBeat reports a consensus rating of Moderate Buy and an average price target of $42.45.
Halliburton Company (NYSE:HAL - Get Free Report) EVP Van Beckwith sold 198,349 shares of Halliburton stock in a transaction that occurred on Friday, May 15th. The shares were 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. The trade was a 57.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Halliburton Stock Up 2.4%
HAL stock opened at $42.76 on Tuesday. The company has a market capitalization of $35.72 billion, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 1.83 and a beta of 0.73. Halliburton Company has a 12 month low of $19.38 and a 12 month high of $42.93. The firm's fifty day simple moving average is $38.41 and its 200-day simple moving average is $33.28. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54.
Halliburton (NYSE:HAL - Get Free Report) last issued its earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The firm had revenue of $5.40 billion during the quarter, compared to analysts' expectations of $5.37 billion. During the same quarter last year, the company posted $0.60 earnings per share. The firm's revenue was down .3% compared to the same quarter last year. As a group, equities research analysts forecast that Halliburton Company will post 2.32 earnings per share for the current year.
Halliburton Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.6%. The ex-dividend date was Wednesday, March 4th. Halliburton's dividend payout ratio (DPR) is currently 37.36%.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on HAL shares. Citigroup lifted their price target on Halliburton from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. The Goldman Sachs Group raised their price objective on Halliburton from $40.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, March 4th. Barclays upgraded Halliburton from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $37.00 to $55.00 in a research report on Thursday, May 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Halliburton in a research note on Friday, April 10th. Finally, Capital One Financial upped their price objective on shares of Halliburton from $40.00 to $41.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 8th. Eighteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Halliburton presently has a consensus rating of "Moderate Buy" and an average price target of $42.45.
Get Our Latest Research Report on Halliburton
Institutional Investors Weigh In On Halliburton
Several institutional investors and hedge funds have recently added to or reduced their stakes in HAL. Cullen Frost Bankers Inc. acquired a new stake in shares of Halliburton in the third quarter valued at about $25,000. Nvest Wealth Strategies Inc. purchased a new stake in Halliburton during the 4th quarter valued at about $25,000. Kelleher Financial Advisors acquired a new stake in Halliburton in the 3rd quarter valued at about $25,000. Newbridge Financial Services Group Inc. purchased a new position in Halliburton in the 2nd quarter worth approximately $25,000. Finally, Zions Bancorporation National Association UT boosted its holdings in shares of Halliburton by 196.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company's stock worth $28,000 after purchasing an additional 650 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company's stock.
About Halliburton
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
