Halliburton Company $HAL Holdings Increased by ABN Amro Investment Solutions

ABN Amro Investment Solutions lifted its stake in Halliburton Company (NYSE:HAL) by 135.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,912 shares of the oilfield services company’s stock after acquiring an additional 39,638 shares during the period. ABN Amro Investment Solutions’ holdings in Halliburton were worth $2,687,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its position in Halliburton by 82,596.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock worth $841,339,000 after buying an additional 29,735,387 shares during the last quarter. Capital Research Global Investors lifted its position in shares of 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 last quarter. Norges Bank acquired a new stake in shares of Halliburton during the 4th quarter valued at $169,304,000. Canoe Financial LP bought a new stake in shares of Halliburton during the 1st quarter worth $158,525,000. Finally, AQR Capital Management LLC boosted its stake in shares of Halliburton by 85.5% during the 2nd quarter. AQR Capital Management LLC now owns 8,610,870 shares of the oilfield services company’s stock worth $175,490,000 after acquiring an additional 3,969,759 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on HAL. Wolfe Research started coverage on shares of Halliburton in a report on Wednesday, July 8th. They issued a “peer perform” rating for the company. Weiss Ratings restated a “hold (c)” rating on shares of Halliburton in a research report on Wednesday, July 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Halliburton in a research note on Sunday, April 26th. TD Cowen decreased their target price on Halliburton from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Susquehanna decreased their price objective on Halliburton from $45.00 to $42.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Halliburton presently has a consensus rating of “Moderate Buy” and an average price target of $43.14.

Key Halliburton News

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton won a new contract with Basra Oil Company to provide integrated field management, digital solutions, and EPCM services in southern Iraq, adding another large-scale international project to its backlog. Halliburton (HAL) Lands Iraq Field Development Contract With Basra Oil Company
• Positive Sentiment: The company also secured a multi-year agreement with Kuwait Oil Company to support the Ahmadi Innovation Valley, reinforcing Halliburton’s international growth story and technology-led strategy. Halliburton’s Outlook Improves as New Awards Build Momentum After Flat Q2, RBC Says
• Positive Sentiment: Second-quarter results topped expectations, with revenue of $5.71 billion and EPS of $0.55, while international revenue hit a 10-year high and margins expanded, which supports confidence in earnings resilience. Halliburton Tops Estimates as International Demand Strengthens
• Neutral Sentiment: Several brokerages lowered price targets after the earnings release, but most kept bullish ratings, suggesting analysts still see upside despite a more cautious valuation view. These Analysts Cut Their Forecasts On Halliburton Following Q2 Results
• Negative Sentiment: The company’s post-earnings outlook was described as tepid by some coverage, with warnings about a slower Middle East recovery and uneven execution tempering enthusiasm. Halliburton tumbles on tepid revenue forecast, Middle East recovery warning

Insider Buying and Selling at Halliburton

In related news, EVP Van H. Beckwith sold 198,349 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $41.29, for a total transaction of $8,189,830.21. Following the completion of the transaction, the executive vice president owned 146,186 shares of the company’s stock, valued at approximately $6,036,019.94. The trade was a 57.57% decrease in their position. The transaction was disclosed in a document filed 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, CFO Eric Carre sold 24,778 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total transaction of $889,282.42. Following the transaction, the chief financial officer directly owned 148,520 shares in the company, valued at $5,330,382.80. This trade represents a 14.30% 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 258,255 shares of company stock worth $10,550,535 in the last ninety days. 0.57% of the stock is owned by insiders.

Halliburton Stock Performance

Shares of NYSE HAL opened at $32.68 on Friday. The firm has a market cap of $27.30 billion, a price-to-earnings ratio of 17.11, a P/E/G ratio of 1.52 and a beta of 0.71. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 2.02. The business’s 50-day simple moving average is $37.11 and its 200-day simple moving average is $36.47. Halliburton Company has a 52 week low of $20.39 and a 52 week high of $43.59.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same quarter last year, the firm posted $0.55 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts expect that Halliburton Company will post 2.36 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd were paid a $0.17 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.1%. Halliburton’s payout ratio is presently 37.36%.

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.