Daiichi Life Insurance Co. Ltd. Acquires Shares of 34,039 Halliburton Company $HAL

Daiichi Life Insurance Co. Ltd. acquired a new stake in Halliburton Company (NYSE:HAL - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 34,039 shares of the oilfield services company's stock, valued at approximately $1,156,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Commerce Bank bought a new position in shares of Halliburton during the 2nd quarter valued at approximately $1,178,000. Northwestern Mutual Wealth Management Co. bought a new stake in Halliburton in the second quarter worth $4,647,000. Quantbot Technologies LP bought a new stake in Halliburton in the second quarter worth $10,746,000. Evolve Private Wealth LLC purchased a new position in Halliburton during the second quarter worth $721,000. Finally, Martin & Co. Inc. TN purchased a new position in Halliburton during the second quarter worth $5,613,000. Hedge funds and other institutional investors own 85.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HAL shares. Freedom Capital raised shares of Halliburton from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 22nd. Capital One Financial increased their price objective on shares of Halliburton from $41.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 20th. UBS Group dropped their target price on Halliburton from $40.00 to $39.00 and set a "neutral" rating for the company in a research report on Monday, July 27th. Barclays dropped their target price on Halliburton from $55.00 to $53.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. Finally, Piper Sandler upgraded Halliburton from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $40.00 to $43.00 in a report on Tuesday, July 14th. Eighteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $43.10.

Halliburton Trading Down 2.0%

Shares of NYSE HAL opened at $34.63 on Tuesday. Halliburton Company has a twelve month low of $21.40 and a twelve month high of $43.59. The firm has a market cap 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. The business has a fifty day simple moving average of $33.88 and a two-hundred day simple moving average of $36.54. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64.

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, beating analysts' consensus estimates of $0.54 by $0.01. The business had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.50 billion. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The company's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. Analysts expect that Halliburton Company will post 2.34 earnings per share for the current fiscal year.

Insider Activity

In other Halliburton news, CFO Eric Carre sold 24,778 shares of the business's 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 sale, the chief financial officer owned 148,520 shares of the company's stock, valued at approximately $5,330,382.80. The trade was a 14.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jeffrey Shannon Slocum sold 52,572 shares of the company's stock in a transaction that occurred 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 owned 118,730 shares in the company, valued at $4,166,235.70. The trade was a 30.69% 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. Corporate insiders own 0.57% of the company's stock.

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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