Meiji Yasuda Asset Management Co Ltd. Makes New $498,000 Investment in Halliburton Company $HAL

Meiji Yasuda Asset Management Co Ltd. purchased a new position in Halliburton Company (NYSE:HAL) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 17,628 shares of the oilfield services company’s stock, valued at approximately $498,000.

Several other institutional investors also recently added to or reduced their stakes in HAL. Capital Research Global Investors increased its position in shares of Halliburton by 81.8% during the third quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company’s stock valued at $2,239,349,000 after purchasing an additional 40,969,139 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Halliburton by 82,596.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after purchasing an additional 29,735,387 shares during the period. Sanders Capital LLC increased its position in shares of Halliburton by 9.4% during the third quarter. Sanders Capital LLC now owns 26,004,682 shares of the oilfield services company’s stock valued at $639,715,000 after purchasing an additional 2,238,983 shares during the period. Strive Asset Management LLC bought a new stake in shares of Halliburton during the third quarter valued at approximately $418,738,000. Finally, AQR Capital Management LLC increased its position in shares of Halliburton by 85.5% during the second quarter. AQR Capital Management LLC now owns 8,610,870 shares of the oilfield services company’s stock valued at $175,490,000 after purchasing an additional 3,969,759 shares during the period. 85.23% of the stock is owned by institutional investors.

Halliburton Price Performance

Shares of HAL stock opened at $41.50 on Friday. The stock’s fifty day moving average is $38.99 and its 200-day moving average is $33.65. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08. Halliburton Company has a 52 week low of $19.42 and a 52 week high of $43.59. The stock has a market capitalization of $34.67 billion, a PE ratio of 22.80, a PEG ratio of 1.79 and a beta of 0.73.

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

Halliburton Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Tobi M. Young sold 6,125 shares of Halliburton stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $41.72, for a total value of $255,535.00. Following the completion of the transaction, the director directly owned 15,250 shares of the company’s stock, valued at $636,230. The trade was a 28.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Casey Maxwell sold 20,348 shares of Halliburton stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $41.89, for a total value of $852,377.72. Following the completion of the transaction, the insider directly owned 93,763 shares of the company’s stock, valued at $3,927,732.07. This represents a 17.83% 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 over the last three months. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HAL. The Goldman Sachs Group boosted their price objective on Halliburton from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Wall Street Zen cut Halliburton from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 3rd. Citigroup boosted their price objective on Halliburton from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. TD Cowen boosted their price objective on Halliburton from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Finally, UBS Group boosted their price objective on Halliburton from $35.00 to $39.00 and gave the company a “neutral” rating in a research report on Tuesday, April 7th. 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 stock currently has an average rating of “Moderate Buy” and an average target price of $42.86.

Trending Headlines about Halliburton

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?

Halliburton Company 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.