Zurcher Kantonalbank Zurich Cantonalbank Sells 14,292 Shares of Halliburton Company $HAL

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Halliburton Company (NYSE:HAL) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 324,122 shares of the oilfield services company’s stock after selling 14,292 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Halliburton were worth $9,160,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of HAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Halliburton by 7.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company’s stock worth $2,353,000 after buying an additional 6,507 shares in the last quarter. Woodline Partners LP increased its holdings in shares of Halliburton by 39.0% during the first quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company’s stock worth $1,861,000 after buying an additional 20,583 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Halliburton by 25.0% during the first quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company’s stock worth $1,320,000 after buying an additional 10,408 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Halliburton by 309.1% during the first quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company’s stock worth $1,749,000 after buying an additional 52,092 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Halliburton during the first quarter worth about $895,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Van H. Beckwith sold 19,618 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $33.82, for a total value of $663,480.76. Following the completion of the sale, the executive vice president directly owned 344,535 shares of the company’s stock, valued at approximately $11,652,173.70. This represents a 5.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Margaret Katherine Banks sold 2,600 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $34.17, for a total value of $88,842.00. Following the completion of the sale, the director directly owned 14,043 shares of the company’s stock, valued at $479,849.31. The trade was a 15.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 189,960 shares of company stock worth $7,406,724 in the last three months. 0.57% of the stock is owned by corporate insiders.

Halliburton Stock Performance

NYSE HAL opened at $39.65 on Friday. Halliburton Company has a 12-month low of $19.22 and a 12-month high of $41.18. The company has a market cap of $33.11 billion, a P/E ratio of 21.78, a PEG ratio of 1.73 and a beta of 0.68. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $36.61 and a 200 day simple moving average of $31.40.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating 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 business had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. Sell-side analysts predict that Halliburton Company will post 2.19 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, March 4th. Halliburton’s dividend payout ratio is presently 37.36%.

Analyst Ratings Changes

HAL has been the topic of several research reports. Evercore upgraded Halliburton from an “in-line” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Friday, March 20th. Royal Bank Of Canada lifted their price target on shares of Halliburton from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday. Piper Sandler raised their price objective on Halliburton from $34.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Stifel Nicolaus reiterated a “buy” rating and set a $43.00 price objective (up from $36.00) on shares of Halliburton in a research report on Wednesday. Finally, The Goldman Sachs Group upped their target price on Halliburton from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Seventeen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.73.

Halliburton 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.