California State Teachers Retirement System Sells 333,796 Shares of Halliburton Company $HAL

California State Teachers Retirement System trimmed its stake in Halliburton Company (NYSE:HAL - Free Report) by 12.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,439,145 shares of the oilfield services company's stock after selling 333,796 shares during the period. California State Teachers Retirement System owned 0.29% of Halliburton worth $82,808,973 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kilter Group LLC purchased a new position in Halliburton during the 2nd quarter worth $26,000. Meeder Asset Management Inc. purchased a new stake in Halliburton in the 2nd quarter valued at $26,000. Silvant Capital Management LLC acquired a new stake in shares of Halliburton in the 2nd quarter worth approximately $28,000. Matrix Trust Co acquired a new stake in shares of Halliburton in the second quarter worth approximately $29,000. Finally, MV Capital Management Inc. acquired a new position in shares of Halliburton in the fourth quarter worth about $33,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Halliburton

In related news, COO Jeffrey Slocum sold 52,572 shares of Halliburton stock in a transaction dated 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 completion of the transaction, the chief operating officer directly owned 118,730 shares of the company's stock, valued at approximately $4,166,235.70. The trade was a 30.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 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 sale, the chief financial officer directly owned 148,520 shares in the company, valued at approximately $5,330,382.80. The trade was a 14.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is owned by company insiders.

Halliburton Stock Up 1.8%

Shares of Halliburton stock traded up $0.64 on Tuesday, hitting $35.65. 4,904,547 shares of the company's stock traded hands, compared to its average volume of 13,339,297. Halliburton Company has a 52-week low of $21.46 and a 52-week high of $43.59. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64. The stock has a market cap of $29.70 billion, a P/E ratio of 18.68, a PEG ratio of 2.07 and a beta of 0.76. The firm's 50-day moving average is $34.43 and its 200 day moving average is $36.71.

Halliburton (NYSE:HAL - Get Free Report) last posted its earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, topping the consensus estimate 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 in the previous year, the firm posted $0.55 earnings per share. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. Equities analysts anticipate that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $0.68 annualized dividend and a yield of 1.9%. Halliburton's payout ratio is currently 35.60%.

Analyst Ratings Changes

HAL has been the subject of several research reports. BMO Capital Markets set a $37.00 price target on Halliburton in a report on Wednesday, July 22nd. Wolfe Research started coverage on shares of Halliburton in a research report on Wednesday, July 8th. They issued a "peer perform" rating on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Halliburton in a research report on Wednesday, July 8th. Piper Sandler upgraded Halliburton from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $40.00 to $43.00 in a report on Tuesday, July 14th. Finally, Argus lowered their price objective on Halliburton from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Eighteen 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's stock. Based on data from MarketBeat.com, Halliburton has a consensus rating of "Moderate Buy" and a consensus price target of $43.24.

Halliburton Profile

Halliburton Company NYSE: HAL is a global provider of products and services for the energy industry. The company supports oil and natural gas exploration, development and production across the life cycle of a well, serving both independent and national oil companies.

Halliburton operates through two principal business segments: Completion and Production, which provides cementing, stimulation, intervention and completion services; and Drilling and Evaluation, which offers drilling services, formation evaluation, well construction, project management and related technologies.

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