135,739 Shares in Halliburton Company $HAL Acquired by OMERS ADMINISTRATION Corp

Key Points

• OMERS Administration Corp acquired 135,739 Halliburton shares worth approximately $4.6 million during the second quarter. Institutional investors and hedge funds collectively own 85.23% of HAL.
• Analyst sentiment remains broadly positive, with 18 Buy ratings, six Holds and one Sell rating; the consensus view is “Moderate Buy” with an average price target of $43.10.
• Halliburton recently exceeded quarterly expectations, reporting $0.55 in earnings per share and $5.71 billion in revenue, while declaring a $0.17 quarterly dividend, equivalent to a 2.0% annualized yield.

OMERS ADMINISTRATION Corp purchased a new position in shares of Halliburton Company (NYSE:HAL - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 135,739 shares of the oilfield services company's stock, valued at approximately $4,608,000.

Other hedge funds also recently made changes to their positions in the company. Kelleher Financial Advisors purchased a new stake in shares of Halliburton during the 3rd quarter valued at $25,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Halliburton in the 2nd quarter worth $25,000. Kilter Group LLC purchased a new position in shares of Halliburton in the 2nd quarter worth $26,000. Meeder Asset Management Inc. acquired a new position in Halliburton in the second quarter valued at $26,000. Finally, Silvant Capital Management LLC acquired a new position in Halliburton in the second quarter valued at $28,000. Institutional investors and hedge funds own 85.23% of the company's stock.

Insider Buying and Selling

In other Halliburton news, COO Jeffrey Shannon Slocum sold 52,572 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $4,166,235.70. This represents a 30.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $35.89, for a total transaction of $889,282.42. Following the completion of the sale, the chief financial officer directly owned 148,520 shares of the company's stock, valued at $5,330,382.80. This trade represents a 14.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on HAL shares. Wolfe Research began coverage on Halliburton in a research note on Wednesday, July 8th. They set a "peer perform" rating for the company. Piper Sandler raised Halliburton from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $40.00 to $43.00 in a research note on Tuesday, July 14th. UBS Group decreased their target price on Halliburton from $40.00 to $39.00 and set a "neutral" rating for the company in a report on Monday, July 27th. Argus dropped their target price on shares of Halliburton from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, July 23rd. Finally, Rothschild & Co Redburn raised their price target on shares of Halliburton from $40.00 to $49.00 and gave the company a "buy" rating in a report on Friday, May 15th. Eighteen equities research 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's stock. According to data from MarketBeat.com, Halliburton has a consensus rating of "Moderate Buy" and an average price target of $43.10.

Halliburton Trading Down 2.0%

NYSE:HAL opened at $34.63 on Tuesday. The business's 50-day moving average is $33.88 and its two-hundred day moving average is $36.54. The firm has a market capitalization of $28.85 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 2.21 and a beta of 0.73. Halliburton Company has a 12 month low of $21.40 and a 12 month high of $43.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.50.

Halliburton (NYSE:HAL - Get Free Report) last issued its earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share 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 company had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter in the prior year, the business earned $0.55 earnings per share. The company's revenue was up 3.7% compared to the same quarter last year. Research analysts predict that Halliburton Company will post 2.34 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $0.68 annualized dividend and a yield of 2.0%. Halliburton's payout ratio is 35.60%.

Halliburton 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.

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