Assenagon Asset Management S.A. Has $4.45 Million Stock Position in Halliburton Company $HAL

Key Points

• Assenagon Asset Management S.A. cut its Halliburton stake by 80.6% in the fourth quarter, selling 652,471 shares and leaving 157,530 shares valued at $4.45 million.
• Halliburton beat Q4 expectations, reporting $0.69 EPS versus $0.55 expected and $5.66 billion in revenue versus $5.39 billion, with analysts forecasting about $2.64 EPS for the current year.
• Insiders sold a total of 357,053 shares (≈$12.18 million) over the quarter—insiders now own 0.61% while institutional investors hold 85.23%—and the company pays a $0.17 quarterly dividend (≈1.7% yield).

Assenagon Asset Management S.A. lessened its holdings in Halliburton Company (NYSE:HAL - Free Report) by 80.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,530 shares of the oilfield services company's stock after selling 652,471 shares during the period. Assenagon Asset Management S.A.'s holdings in Halliburton were worth $4,452,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Clearstead Trust LLC increased its holdings in Halliburton by 7.4% during the 3rd quarter. Clearstead Trust LLC now owns 5,370 shares of the oilfield services company's stock worth $132,000 after purchasing an additional 370 shares in the last quarter. Angeles Wealth Management LLC raised its stake in shares of Halliburton by 3.6% in the third quarter. Angeles Wealth Management LLC now owns 11,320 shares of the oilfield services company's stock worth $278,000 after purchasing an additional 392 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of Halliburton by 21.0% in the fourth quarter. True Wealth Design LLC now owns 2,434 shares of the oilfield services company's stock valued at $69,000 after purchasing an additional 423 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Halliburton by 22.2% during the third quarter. Parkside Financial Bank & Trust now owns 2,369 shares of the oilfield services company's stock valued at $58,000 after buying an additional 431 shares during the last quarter. Finally, Profund Advisors LLC boosted its position in shares of Halliburton by 0.9% during the third quarter. Profund Advisors LLC now owns 51,508 shares of the oilfield services company's stock valued at $1,267,000 after buying an additional 463 shares during the last quarter. Institutional investors own 85.23% of the company's stock.

Halliburton Stock Down 0.1%

Shares of NYSE:HAL opened at $40.39 on Monday. Halliburton Company has a 1 year low of $18.72 and a 1 year high of $40.43. The company has a market capitalization of $33.83 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 2.43 and a beta of 0.73. The business has a fifty day moving average price of $34.97 and a two-hundred day moving average price of $29.56. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.04 and a quick ratio of 1.51.

Halliburton (NYSE:HAL - Get Free Report) last released its earnings results on Wednesday, January 21st. The oilfield services company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.14. The company had revenue of $5.66 billion for the quarter, compared to analysts' expectations of $5.39 billion. Halliburton had a return on equity of 19.77% and a net margin of 5.78%.The business's revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.73 EPS. Analysts forecast that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Wednesday, March 4th. Halliburton's payout ratio is presently 45.03%.

Insider Transactions at Halliburton

In other news, EVP Lawrence J. Pope sold 100,000 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $32.25, for a total transaction of $3,225,000.00. Following the completion of the transaction, the executive vice president directly owned 419,800 shares of the company's stock, valued at $13,538,550. This represents a 19.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Timothy Mckeon sold 3,846 shares of the firm's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $34.37, for a total transaction of $132,187.02. Following the sale, the vice president owned 81,631 shares of the company's stock, valued at approximately $2,805,657.47. The trade was a 4.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 357,053 shares of company stock valued at $12,178,682. Corporate insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on HAL shares. Zephirin Group lowered Halliburton from a "buy" rating to a "hold" rating and lowered their price target for the company from $30.00 to $28.00 in a research report on Friday, January 23rd. The Goldman Sachs Group upped their target price on shares of Halliburton from $40.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, March 4th. TD Cowen raised their price target on shares of Halliburton from $39.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, January 22nd. Evercore upgraded shares of Halliburton from an "in-line" rating to an "outperform" rating and set a $42.00 price target on the stock in a report on Friday, March 20th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Halliburton in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Halliburton has an average rating of "Moderate Buy" and an average target price of $35.81.

Halliburton Company 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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