Halliburton Company $HAL Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP cut its Halliburton stake by 57.8% in the second quarter, selling 278,488 shares and retaining 203,252 shares valued at approximately $6.9 million. Institutional investors and hedge funds collectively own 85.23% of HAL.
• Halliburton reported quarterly EPS of $0.55, slightly above estimates, while revenue reached $5.71 billion, up 3.7% year over year. The company expects full-year EPS of approximately $2.34.
• The company declared a quarterly dividend of $0.17 per share, equivalent to an annualized $0.68 payout and a 2.0% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $43.24, above the reported $33.98 share price.

Corient Private Wealth LP decreased its stake in Halliburton Company (NYSE:HAL - Free Report) by 57.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,252 shares of the oilfield services company's stock after selling 278,488 shares during the quarter. Corient Private Wealth LP's holdings in Halliburton were worth $6,900,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital Research Global Investors grew its stake in shares of Halliburton by 21.1% during the 4th quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company's stock worth $3,114,848,000 after purchasing an additional 19,190,520 shares during the period. BlackRock Inc. acquired a new position in shares of Halliburton in the 2nd quarter valued at $2,812,327,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Halliburton during the second quarter worth $345,941,000. Bank of New York Mellon Corp purchased a new stake in Halliburton during the second quarter worth $337,486,000. Finally, Dimensional Fund Advisors LP grew its position in Halliburton by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 9,502,988 shares of the oilfield services company's stock valued at $370,556,000 after buying an additional 367,701 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Halliburton Stock Performance

HAL opened at $33.98 on Friday. The firm's fifty day simple moving average is $34.46 and its two-hundred day simple moving average is $36.69. Halliburton Company has a 52-week low of $21.46 and a 52-week high of $43.59. The company has a market cap of $28.31 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.99 and a beta of 0.76. 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 released its earnings results 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. The business had revenue of $5.71 billion during the quarter, compared to analysts' expectations of $5.50 billion. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The company's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 earnings per share. Equities analysts anticipate that Halliburton Company will post 2.34 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, September 2nd. Halliburton's payout ratio is 35.60%.

Insider Activity at Halliburton

In other Halliburton news, COO Jeffrey Slocum sold 52,572 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was 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 owned 118,730 shares of the company's stock, valued at $4,166,235.70. This represents a 30.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on HAL shares. TD Cowen cut their price objective on shares of Halliburton from $48.00 to $47.00 and set a "buy" rating for the company in a report on Wednesday, July 22nd. Freedom Capital upgraded Halliburton from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 22nd. BMO Capital Markets set a $37.00 price target on Halliburton in a research note on Wednesday, July 22nd. Evercore reaffirmed an "outperform" rating and issued a $43.00 price target on shares of Halliburton in a report on Wednesday, July 22nd. Finally, Citigroup increased their price target on Halliburton from $47.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, June 3rd. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Halliburton currently has an average rating of "Moderate Buy" and a consensus target price of $43.24.

About Halliburton

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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