Key Points
- Halliburton CFO Eric Carre sold 24,778 shares on June 18 at an average price of $35.89, totaling about $889,282. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and he still owned 148,520 shares afterward.
- Halliburton reported better-than-expected quarterly results, with EPS of $0.55 versus the $0.50 consensus and revenue of $5.40 billion, slightly above estimates. Revenue was down 0.3% year over year, and analysts now expect full-year EPS of 2.34.
- The company continues to return cash to shareholders through a quarterly dividend of $0.17 per share, payable June 24, for an annualized yield of 1.9%. Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $43.27.
Halliburton Company (NYSE:HAL - Get Free Report) CFO Eric Carre sold 24,778 shares of the 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 sale, the chief financial officer owned 148,520 shares of the company's stock, valued at $5,330,382.80. This trade represents a 14.30% decrease in their position. The sale was disclosed in a 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.
Halliburton Trading Up 0.5%
Shares of HAL stock opened at $35.11 on Tuesday. Halliburton Company has a 12-month low of $20.09 and a 12-month high of $43.59. The company has a market capitalization of $29.33 billion, a P/E ratio of 19.29, a P/E/G ratio of 1.51 and a beta of 0.70. The firm has a 50-day moving average price of $39.61 and a 200 day moving average price of $35.51. The company has a quick ratio of 1.54, a current ratio of 2.08 and a debt-to-equity ratio of 0.65.
Halliburton (NYSE:HAL - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.37 billion. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The company's revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 earnings per share. Research analysts forecast that Halliburton Company will post 2.34 earnings per share for the current fiscal year.
Halliburton Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd 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, June 3rd. Halliburton's payout ratio is presently 37.36%.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of HAL. Nvest Wealth Strategies Inc. bought a new position in Halliburton in the 4th quarter valued at $25,000. Kelleher Financial Advisors acquired a new stake in shares of Halliburton in the 3rd quarter valued at $25,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Halliburton during the second quarter worth $25,000. Zions Bancorporation National Association UT raised its position in shares of Halliburton by 196.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company's stock worth $28,000 after acquiring an additional 650 shares during the last quarter. Finally, Strive Asset Management LLC acquired a new position in shares of Halliburton during the third quarter valued at $31,000. Institutional investors own 85.23% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on HAL shares. Griffin Securities raised Halliburton from a "neutral" rating to a "buy" rating and set a $47.00 price target for the company in a report on Wednesday, April 22nd. Jefferies Financial Group reissued a "buy" rating and issued a $47.00 price objective on shares of Halliburton in a research note on Sunday, April 26th. Stifel Nicolaus restated a "buy" rating and set a $43.00 target price (up from $36.00) on shares of Halliburton in a report on Wednesday, April 22nd. Royal Bank Of Canada raised their target price on Halliburton from $43.00 to $44.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Finally, Rothschild & Co Redburn lifted their price target on Halliburton from $40.00 to $49.00 and gave the company a "buy" rating in a report on Friday, May 15th. Eighteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $43.27.
Get Our Latest Stock Report on Halliburton
Halliburton Company Profile
(
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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.
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