Man Group plc Makes New $18.84 Million Investment in Halliburton Company $HAL

Man Group plc purchased a new position in Halliburton Company (NYSE:HAL) in the 2nd quarter, Holdings Channel reports. The firm purchased 555,011 shares of the oilfield services company’s stock, valued at approximately $18,843,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HAL. Capital Research Global Investors lifted its stake in Halliburton by 21.1% during the 4th quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock valued at $3,114,848,000 after acquiring an additional 19,190,520 shares during the period. BlackRock Inc. bought a new stake in shares of Halliburton in the second quarter worth approximately $2,812,327,000. State Street Corp raised its holdings in shares of Halliburton by 1.7% during the fourth quarter. State Street Corp now owns 50,825,761 shares of the oilfield services company’s stock valued at $1,436,336,000 after purchasing an additional 861,964 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Halliburton by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,097,164 shares of the oilfield services company’s stock valued at $878,806,000 after purchasing an additional 443,064 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in 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. 85.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Eric Carre sold 24,778 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.89, for a total value of $889,282.42. Following the completion of the transaction, the chief financial officer owned 148,520 shares of the company’s stock, valued at approximately $5,330,382.80. This trade represents a 14.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jeffrey Shannon Slocum sold 52,572 shares of Halliburton stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total value of $1,844,751.48. Following the completion of the transaction, the chief operating officer owned 118,730 shares of the company’s stock, valued at approximately $4,166,235.70. This represents a 30.69% 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. Company insiders own 0.57% of the company’s stock.

Halliburton Trading Up 3.2%

Shares of HAL stock opened at $35.55 on Friday. Halliburton Company has a 1 year low of $21.40 and a 1 year high of $43.59. The firm has a fifty day moving average price of $33.79 and a 200-day moving average price of $36.54. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.50. The company has a market cap of $29.62 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.16 and a beta of 0.73.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The firm had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.50 billion. During the same period in the prior year, the business posted $0.55 EPS. Halliburton’s revenue was up 3.7% on a year-over-year basis. As a group, equities analysts predict that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $0.68 annualized dividend and a yield of 1.9%. Halliburton’s dividend payout ratio (DPR) is 35.60%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HAL. Argus dropped their target price on shares of Halliburton from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Morgan Stanley decreased their target price on shares of Halliburton from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. Piper Sandler upgraded Halliburton from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $40.00 to $43.00 in a research note on Tuesday, July 14th. UBS Group dropped their price target on Halliburton from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Finally, Freedom Capital raised Halliburton from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 22nd. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Halliburton currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.10.

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.