Cibc World Market Inc. Decreases Stock Holdings in Halliburton Company $HAL

Cibc World Market Inc. reduced its position in Halliburton Company (NYSE:HAL) by 9.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 239,504 shares of the oilfield services company’s stock after selling 24,426 shares during the period. Cibc World Market Inc.’s holdings in Halliburton were worth $5,892,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its stake in Halliburton by 22.2% in the third quarter. Parkside Financial Bank & Trust now owns 2,369 shares of the oilfield services company’s stock valued at $58,000 after acquiring an additional 431 shares in the last quarter. Profund Advisors LLC lifted its holdings in shares of Halliburton by 0.9% during the 3rd quarter. Profund Advisors LLC now owns 51,508 shares of the oilfield services company’s stock valued at $1,267,000 after purchasing an additional 463 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Halliburton by 7.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 7,374 shares of the oilfield services company’s stock worth $150,000 after purchasing an additional 504 shares in the last quarter. Greenleaf Trust grew its stake in Halliburton by 3.3% during the 3rd quarter. Greenleaf Trust now owns 16,390 shares of the oilfield services company’s stock worth $403,000 after buying an additional 519 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in Halliburton by 2.6% during the 2nd quarter. International Assets Investment Management LLC now owns 22,307 shares of the oilfield services company’s stock valued at $455,000 after buying an additional 566 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Halliburton Stock Down 1.0%

Shares of HAL stock opened at $33.95 on Friday. The stock has a 50 day moving average of $31.23 and a 200 day moving average of $26.57. The company has a current ratio of 2.04, a quick ratio of 1.51 and a debt-to-equity ratio of 0.68. The stock has a market cap of $28.44 billion, a P/E ratio of 22.49, a P/E/G ratio of 2.02 and a beta of 0.77. Halliburton Company has a twelve month low of $18.72 and a twelve month high of $35.55.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Wednesday, January 21st. The oilfield services company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.55 by $0.14. The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.39 billion. Halliburton had a return on equity of 19.77% and a net margin of 5.78%.The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 EPS. As a group, sell-side analysts expect that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, December 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. Halliburton’s payout ratio is presently 45.03%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their price target on Halliburton from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Morgan Stanley reissued an “overweight” rating and set a $35.00 target price on shares of Halliburton in a research report on Wednesday, January 21st. BMO Capital Markets raised their price target on shares of Halliburton from $36.00 to $39.00 and gave the stock a “market perform” rating in a report on Thursday, January 22nd. Wall Street Zen raised shares of Halliburton from a “hold” rating to a “strong-buy” rating in a report on Saturday. Finally, JPMorgan Chase & Co. upped their target price on Halliburton from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Halliburton has an average rating of “Moderate Buy” and a consensus target price of $34.95.

Insider Activity

In other Halliburton news, CEO Jeffrey Allen Miller sold 171,200 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $34.96, for a total value of $5,985,152.00. Following the sale, the chief executive officer directly owned 1,101,243 shares of the company’s stock, valued at approximately $38,499,455.28. This trade represents a 13.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Van H. Beckwith sold 54,348 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $34.96, for a total value of $1,900,006.08. Following the transaction, the executive vice president directly owned 344,535 shares of the company’s stock, valued at approximately $12,044,943.60. The trade was a 13.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 337,002 shares of company stock worth $11,445,938. 0.56% of the stock is currently owned by 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.