ABN Amro Investment Solutions Buys Shares of 29,274 Halliburton Company $HAL

Key Points

• ABN Amro Investment Solutions initiated a new position in Halliburton, buying 29,274 shares worth about $827,000 in the fourth quarter. Institutional ownership in the stock remains high at 85.23%.
• Halliburton reported better-than-expected quarterly results, posting EPS of $0.55 versus the $0.50 estimate and revenue of $5.40 billion versus $5.37 billion expected. The company’s revenue was slightly lower year over year, but analysts still expect $2.34 EPS for the full year.
• The company announced a quarterly dividend of $0.17 per share, payable June 24, and several analysts recently raised price targets. Wall Street currently has a Moderate Buy consensus with an average target price of $42.86.

ABN Amro Investment Solutions bought a new stake in Halliburton Company (NYSE:HAL - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 29,274 shares of the oilfield services company's stock, valued at approximately $827,000.

Other large investors have also recently bought and sold shares of the company. Nvest Wealth Strategies Inc. bought a new position in Halliburton in the fourth quarter valued at about $25,000. Kelleher Financial Advisors acquired a new stake in shares of Halliburton in the third quarter valued at about $25,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Halliburton in the third quarter valued at about $25,000. GoalVest Advisory LLC acquired a new stake in shares of Halliburton in the fourth quarter valued at about $35,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Halliburton in the second quarter valued at about $25,000. 85.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Halliburton news, insider Michael Casey Maxwell sold 20,348 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $41.89, for a total value of $852,377.72. Following the transaction, the insider owned 93,763 shares in the company, valued at approximately $3,927,732.07. This represents a 17.83% decrease in their ownership of the stock. The sale was disclosed in a legal 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, VP Timothy Mckeon sold 8,655 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $42.00, for a total value of $363,510.00. Following the completion of the transaction, the vice president owned 72,976 shares in the company, valued at approximately $3,064,992. The trade was a 10.60% 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. In the last quarter, insiders have sold 420,837 shares of company stock valued at $16,979,135. 0.57% of the stock is currently owned by corporate insiders.

Halliburton Trading Up 0.1%

NYSE HAL opened at $41.50 on Monday. The business has a 50 day simple moving average of $38.99 and a 200 day simple moving average of $33.70. Halliburton Company has a one year low of $19.42 and a one year high of $43.59. The stock has a market capitalization of $34.67 billion, a P/E ratio of 22.80, a P/E/G ratio of 1.79 and a beta of 0.73. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54.

Halliburton (NYSE:HAL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. The business had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.37 billion. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The company's quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. Research analysts expect that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd will be issued a $0.17 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $0.68 annualized dividend and a yield of 1.6%. Halliburton's dividend payout ratio is presently 37.36%.

Key Stories Impacting Halliburton

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton announced a quarterly dividend of $0.17 per share, signaling continued capital returns to shareholders and reinforcing management’s confidence in cash generation. Halliburton Announces Dividend
• Positive Sentiment: CEO Jeff Miller joining Noble Corporation’s board may be seen as a vote of confidence in Halliburton’s leadership and industry standing, while also highlighting Miller’s influence across the offshore drilling sector. Noble Corporation plc Announces New Director Appointment
• Neutral Sentiment: Articles focused on Halliburton’s Russell 1000 filing and broader market commentary are drawing fresh attention to the name, but they do not appear to change the company’s fundamentals on their own. Halliburton Russell 1000 Filing Raises Fresh Focus
• Neutral Sentiment: Recent notes from analysts and market outlets highlight that HAL has been up since its last earnings report, suggesting investor sentiment remains constructive after the company beat quarterly EPS estimates and slightly topped revenue expectations. Halliburton (HAL) Up 8.2% Since Last Earnings Report: Can It Continue?

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HAL. Stifel Nicolaus reissued a "buy" rating and issued a $43.00 price target (up from $36.00) on shares of Halliburton in a research note on Wednesday, April 22nd. Rothschild & Co Redburn increased their price target on Halliburton from $40.00 to $49.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Piper Sandler increased their price target on Halliburton from $34.00 to $40.00 and gave the company a "neutral" rating in a research note on Wednesday, April 15th. Zephirin Group increased their price target on Halliburton from $30.00 to $31.00 and gave the company a "sell" rating in a research note on Wednesday, April 22nd. Finally, Susquehanna increased their price target on Halliburton from $40.00 to $45.00 and gave the company a "positive" rating in a research note on Tuesday, April 7th. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.86.

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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