Prudential PLC Trims Stake in Halliburton Company $HAL

Prudential PLC trimmed its holdings in shares of Halliburton Company (NYSE:HAL) by 12.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 421,655 shares of the oilfield services company’s stock after selling 60,582 shares during the quarter. Prudential PLC’s holdings in Halliburton were worth $11,916,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Coldstream Capital Management Inc. boosted its holdings in shares of Halliburton by 1.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 23,312 shares of the oilfield services company’s stock worth $659,000 after purchasing an additional 349 shares in the last quarter. Harbour Investments Inc. boosted its holdings in shares of Halliburton by 7.3% in the 4th quarter. Harbour Investments Inc. now owns 5,320 shares of the oilfield services company’s stock worth $150,000 after purchasing an additional 361 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in shares of Halliburton by 3.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 10,363 shares of the oilfield services company’s stock worth $293,000 after purchasing an additional 365 shares in the last quarter. Clearstead Trust LLC boosted its holdings in shares of Halliburton by 7.4% in the 3rd quarter. Clearstead Trust LLC now owns 5,370 shares of the oilfield services company’s stock worth $132,000 after purchasing an additional 370 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its holdings in shares of Halliburton by 1.7% in the 4th quarter. Fidelis Capital Partners LLC now owns 22,517 shares of the oilfield services company’s stock worth $636,000 after purchasing an additional 371 shares in the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Morgan Stanley upped their price objective on Halliburton from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Griffin Securities upgraded Halliburton from a “neutral” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Wednesday, April 22nd. Evercore upped their price objective on Halliburton from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Finally, HSBC upped their price objective on Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $43.27.

Halliburton Trading Down 5.1%

Shares of HAL stock opened at $39.12 on Friday. The stock has a market capitalization of $32.68 billion, a PE ratio of 21.49, a P/E/G ratio of 1.78 and a beta of 0.69. Halliburton Company has a 1-year low of $20.09 and a 1-year high of $43.59. The business has a 50-day moving average of $39.77 and a 200 day moving average of $34.55. 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) last issued its 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. The company had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.Halliburton’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. As a group, sell-side analysts anticipate that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.7%. Halliburton’s dividend payout ratio is presently 37.36%.

Insider Buying and Selling at Halliburton

In other Halliburton news, VP Timothy Mckeon sold 8,655 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $42.00, for a total transaction of $363,510.00. Following the completion of the transaction, the vice president owned 72,976 shares of the company’s stock, valued at $3,064,992. This represents a 10.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Casey Maxwell sold 20,348 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $41.89, for a total value of $852,377.72. Following the transaction, the insider directly owned 93,763 shares of the company’s stock, valued at $3,927,732.07. The trade was a 17.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 416,991 shares of company stock worth $16,846,948 over the last three months. 0.57% of the stock is owned by corporate insiders.

About Halliburton

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.