9,940,689 Shares in Halliburton Company $HAL Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon initiated a major Halliburton position, buying 9.94 million shares valued at approximately $337.5 million, or about 1.19% of the company. Institutional investors collectively own 85.23% of Halliburton.
• Halliburton exceeded quarterly expectations with $0.55 in EPS and $5.71 billion in revenue, while revenue rose 3.7% year over year. However, EPS was unchanged from the prior-year quarter, suggesting restrained near-term growth.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $43.10, despite some target reductions. Two executives recently sold shares under pre-arranged Rule 10b5-1 plans, including the COO’s $1.84 million sale.

Bank of New York Mellon Corp purchased a new position in shares of Halliburton Company (NYSE:HAL - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,940,689 shares of the oilfield services company's stock, valued at approximately $337,486,000. Bank of New York Mellon Corp owned approximately 1.19% of Halliburton as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HAL. Matrix Trust Co acquired a new stake in Halliburton in the 2nd quarter worth about $29,000. Zions Bancorporation National Association UT increased its stake in shares of Halliburton by 196.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company's stock valued at $28,000 after acquiring an additional 650 shares during the last quarter. Kelleher Financial Advisors purchased a new stake in shares of Halliburton during the 3rd quarter valued at $25,000. Hoey Investments Inc. acquired a new stake in Halliburton during the 1st quarter worth approximately $39,000. Finally, Vestor Capital LLC purchased a new stake in shares of Halliburton during the 1st quarter valued at about $41,000. Institutional investors and hedge funds own 85.23% of the company's stock.

Insider Activity

In related news, COO Jeffrey Shannon Slocum sold 52,572 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the transaction, the chief operating officer directly owned 118,730 shares in the company, valued at approximately $4,166,235.70. The trade was a 30.69% decrease in their ownership of the stock. The sale was disclosed in a 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, CFO Eric Carre sold 24,778 shares of the company's stock in a transaction 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 transaction, the chief financial officer owned 148,520 shares in the company, valued at approximately $5,330,382.80. This represents a 14.30% decrease in their ownership of the stock. 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. Insiders own 0.57% of the company's stock.

Halliburton Stock Down 0.9%

NYSE HAL opened at $35.38 on Friday. The stock has a market cap of $29.48 billion, a PE ratio of 18.52, a PEG ratio of 2.23 and a beta of 0.73. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.50 and a current ratio of 2.02. The firm has a 50-day simple moving average of $33.95 and a 200 day simple moving average of $36.50. Halliburton Company has a twelve month low of $21.40 and a twelve month high of $43.59.

Halliburton (NYSE:HAL - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.50 billion. During the same period last year, the firm earned $0.55 EPS. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, research analysts forecast that Halliburton Company will post 2.34 EPS for the current year.

Key Stories Impacting Halliburton

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton Labs added Electroflow, Osmoses and SiTration to its portfolio. The companies focus on battery materials, gas separation and critical-metal recovery, giving Halliburton exposure to emerging energy technologies and potentially supporting longer-term diversification beyond traditional oilfield services. Halliburton Labs Announces Three New Portfolio Companies
• Positive Sentiment: Halliburton’s latest quarterly results showed modest operational strength: earnings per share exceeded estimates, revenue reached $5.71 billion versus a $5.50 billion consensus, and sales increased 3.7% year over year. Analysts remain broadly constructive, with a consensus “Moderate Buy” rating and an average price target of $43.10, well above recent trading levels. Q2 Rundown: Halliburton Vs Other Oilfield Services Stocks
• Neutral Sentiment: Recent options-market activity has drawn attention to the possibility of a larger move in HAL, but the available report does not establish whether traders are positioned for a rise or decline. The activity mainly signals increased volatility expectations. Are Options Traders Betting on a Big Move in Halliburton Stock?
• Negative Sentiment: COO Jeffrey Shannon Slocum sold 52,572 shares worth approximately $1.84 million, reducing his direct ownership by 30.69%. The transaction was made under a pre-arranged Rule 10b5-1 plan, which makes it a weaker bearish signal, but the size of the sale may still weigh on sentiment.
• Negative Sentiment: Although Halliburton beat quarterly estimates, EPS was unchanged from the year-earlier period, and analysts have recently lowered several price targets. That combination suggests expectations for near-term oilfield-services growth remain restrained despite the company’s longer-term opportunities.

Analysts Set New Price Targets

Several research firms have recently commented on HAL. UBS Group reduced their target price on Halliburton from $40.00 to $39.00 and set a "neutral" rating for the company in a research note on Monday, July 27th. Freedom Capital raised shares of Halliburton from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 22nd. Wolfe Research assumed coverage on shares of Halliburton in a research note on Wednesday, July 8th. They issued a "peer perform" rating on the stock. Evercore reaffirmed an "outperform" rating and issued a $43.00 price objective on shares of Halliburton in a report on Wednesday, July 22nd. Finally, Barclays decreased their price objective on Halliburton from $55.00 to $53.00 and set an "overweight" rating for the company in a report on Wednesday, July 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Halliburton presently has a consensus rating of "Moderate Buy" and an average price target of $43.10.

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.

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