Jeffrey Allen Miller Sells 271,283 Shares of Halliburton (NYSE:HAL) Stock

Halliburton (NYSE:HALGet Rating) CEO Jeffrey Allen Miller sold 271,283 shares of Halliburton stock in a transaction on Monday, May 8th. The shares were sold at an average price of $30.25, for a total value of $8,206,310.75. Following the sale, the chief executive officer now directly owns 829,230 shares of the company’s stock, valued at approximately $25,084,207.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Halliburton Stock Performance

HAL opened at $28.49 on Friday. The firm has a market capitalization of $25.70 billion, a PE ratio of 13.19, a PEG ratio of 0.38 and a beta of 2.11. Halliburton has a 52-week low of $23.30 and a 52-week high of $43.99. The business’s 50-day simple moving average is $32.48 and its 200 day simple moving average is $36.14. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.54 and a current ratio of 2.14.

Halliburton (NYSE:HALGet Rating) last issued its quarterly earnings data on Tuesday, April 25th. The oilfield services company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.05. Halliburton had a return on equity of 29.38% and a net margin of 9.04%. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same period in the prior year, the firm posted $0.35 EPS. The company’s revenue for the quarter was up 32.5% on a year-over-year basis. As a group, sell-side analysts expect that Halliburton will post 3.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Halliburton

Hedge funds have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC boosted its holdings in Halliburton by 10.2% in the 3rd quarter. Quadrant Capital Group LLC now owns 4,233 shares of the oilfield services company’s stock worth $104,000 after buying an additional 393 shares during the period. Teza Capital Management LLC bought a new stake in Halliburton during the 3rd quarter worth approximately $861,000. Highland Capital Management LLC purchased a new position in Halliburton during the fourth quarter worth about $356,000. Utah Retirement Systems grew its position in Halliburton by 0.4% during the third quarter. Utah Retirement Systems now owns 160,740 shares of the oilfield services company’s stock worth $3,957,000 after buying an additional 600 shares in the last quarter. Finally, Worth Asset Management LLC bought a new stake in Halliburton during the fourth quarter valued at approximately $27,000. 80.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wolfe Research raised shares of Halliburton from an “underperform” rating to an “outperform” rating and set a $51.00 target price on the stock in a research note on Thursday, January 12th. Citigroup cut their target price on Halliburton from $47.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, March 22nd. Benchmark reaffirmed a “buy” rating and issued a $50.00 target price on shares of Halliburton in a research note on Monday, April 3rd. UBS Group assumed coverage on shares of Halliburton in a research note on Wednesday, April 19th. They issued a “buy” rating and a $49.00 price target for the company. Finally, The Goldman Sachs Group raised their price target on Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, January 30th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $48.24.

Halliburton Company Profile

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Halliburton Co engages in the provision of services and products to the energy industry related to the exploration, development, and production of oil and natural gas. It operates through the Completion and Production, and Drilling and Evaluation segments. The Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion services.

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