Halliburton Company $HAL Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its position in Halliburton Company (NYSE:HAL) by 2.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 834,455 shares of the oilfield services company’s stock after acquiring an additional 23,439 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Halliburton were worth $23,582,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Tredje AP fonden bought a new stake in Halliburton during the fourth quarter worth approximately $4,156,000. ProShare Advisors LLC lifted its position in Halliburton by 4.7% in the fourth quarter. ProShare Advisors LLC now owns 194,273 shares of the oilfield services company’s stock worth $5,490,000 after purchasing an additional 8,788 shares during the period. Gabelli Funds LLC lifted its position in Halliburton by 0.4% in the fourth quarter. Gabelli Funds LLC now owns 1,072,525 shares of the oilfield services company’s stock worth $30,310,000 after purchasing an additional 4,357 shares during the period. North Dakota State Investment Board acquired a new stake in Halliburton in the fourth quarter worth approximately $831,000. Finally, Elyxium Wealth LLC acquired a new stake in Halliburton in the fourth quarter worth approximately $48,000. 85.23% of the stock is currently owned by institutional investors.

Halliburton News Summary

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton announced a quarterly dividend of $0.17 per share, signaling continued capital returns to shareholders and reinforcing management’s confidence in cash generation. Halliburton Announces Dividend
• Positive Sentiment: CEO Jeff Miller joining Noble Corporation’s board may be seen as a vote of confidence in Halliburton’s leadership and industry standing, while also highlighting Miller’s influence across the offshore drilling sector. Noble Corporation plc Announces New Director Appointment
• Neutral Sentiment: Articles focused on Halliburton’s Russell 1000 filing and broader market commentary are drawing fresh attention to the name, but they do not appear to change the company’s fundamentals on their own. Halliburton Russell 1000 Filing Raises Fresh Focus
• Neutral Sentiment: Recent notes from analysts and market outlets highlight that HAL has been up since its last earnings report, suggesting investor sentiment remains constructive after the company beat quarterly EPS estimates and slightly topped revenue expectations. Halliburton (HAL) Up 8.2% Since Last Earnings Report: Can It Continue?

Insider Activity

In related news, CEO Jeffrey Allen Miller sold 158,455 shares of the firm’s stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $40.00, for a total transaction of $6,338,200.00. Following the completion of the sale, the chief executive officer directly owned 1,013,027 shares in the company, valued at approximately $40,521,080. This trade represents a 13.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Van H. Beckwith sold 198,349 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was 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 $6,036,019.94. The trade was a 57.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 420,837 shares of company stock valued at $16,979,135 in the last ninety days. 0.57% of the stock is owned by company insiders.

Halliburton Trading Down 1.1%

Shares of NYSE:HAL opened at $41.50 on Friday. The stock has a market capitalization of $34.67 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.82 and a beta of 0.73. Halliburton Company has a 1-year low of $19.42 and a 1-year high of $43.59. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08. The company has a 50 day moving average price of $38.99 and a 200 day moving average price of $33.65.

Halliburton (NYSE:HAL) last issued its earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. The firm had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. On average, research analysts anticipate that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Wednesday, June 3rd. Halliburton’s dividend payout ratio (DPR) is presently 37.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Argus upped their target price on Halliburton from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. BMO Capital Markets upped their target price on Halliburton from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Piper Sandler upped their target price on Halliburton from $34.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Weiss Ratings restated a “hold (c)” rating on shares of Halliburton in a research report on Friday, April 10th. Finally, Evercore upgraded Halliburton from an “in-line” rating to an “outperform” rating and set a $42.00 target price for the company in a research report on Friday, March 20th. Eighteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.86.

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.