Halliburton Company $HAL Shares Sold by Tidal Investments LLC

Key Points

• Tidal Investments cut its Halliburton stake by 14.6% in the second quarter, selling 68,665 shares and retaining 401,387 shares valued at approximately $13.6 million. Institutional investors and hedge funds collectively own 85.23% of HAL.
• Halliburton insiders also reported stock sales under pre-arranged Rule 10b5-1 plans: the COO sold 52,572 shares and the CFO sold 24,778 shares. Company insiders now own 0.57% of the stock.
• Analysts maintain a broadly positive view, with 18 Buy, six Hold and one Sell rating, producing a “Moderate Buy” consensus and a $43.10 target price. Halliburton recently exceeded quarterly earnings and revenue estimates and declared a $0.17 quarterly dividend.

Tidal Investments LLC decreased its holdings in Halliburton Company (NYSE:HAL - Free Report) by 14.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 401,387 shares of the oilfield services company's stock after selling 68,665 shares during the period. Tidal Investments LLC's holdings in Halliburton were worth $13,627,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Nova Scotia raised its position in Halliburton by 128.8% in the first quarter. Bank of Nova Scotia now owns 2,284,612 shares of the oilfield services company's stock valued at $89,077,000 after purchasing an additional 1,286,095 shares during the period. ABN Amro Investment Solutions purchased a new stake in shares of Halliburton in the fourth quarter worth about $827,000. Allstate Corp grew its stake in shares of Halliburton by 115.7% in the fourth quarter. Allstate Corp now owns 65,147 shares of the oilfield services company's stock valued at $1,841,000 after buying an additional 34,943 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Halliburton by 21.2% in the fourth quarter. Hsbc Holdings PLC now owns 2,274,017 shares of the oilfield services company's stock valued at $64,306,000 after buying an additional 397,282 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan raised its holdings in shares of Halliburton by 286.2% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 65,406 shares of the oilfield services company's stock valued at $1,848,000 after buying an additional 48,470 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Jeffrey Slocum sold 52,572 shares of the company's 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 owned 118,730 shares in the company, valued at approximately $4,166,235.70. This represents a 30.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 stock in a transaction dated Thursday, June 18th. The stock was 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. This trade represents a 14.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Morgan Stanley reduced their price target on Halliburton from $41.00 to $40.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 22nd. BMO Capital Markets set a $37.00 price objective on shares of Halliburton in a research note on Wednesday, July 22nd. Barclays reduced their target price on shares of Halliburton from $55.00 to $53.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 22nd. Susquehanna decreased their target price on shares of Halliburton from $45.00 to $42.00 and set a "positive" rating for the company in a research note on Wednesday, July 8th. Finally, Freedom Capital raised shares of Halliburton from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 22nd. Eighteen equities research 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, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.10.

Halliburton Stock Performance

Shares of HAL stock opened at $35.88 on Friday. The company has a market cap of $29.89 billion, a P/E ratio of 18.78, a PEG ratio of 2.08 and a beta of 0.76. The business has a 50 day moving average of $34.39 and a two-hundred day moving average of $36.70. 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.

Halliburton (NYSE:HAL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.01. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The business had revenue of $5.71 billion for the quarter, compared to analysts' expectations of $5.50 billion. During the same period in the prior year, the firm earned $0.55 EPS. The business's quarterly revenue was up 3.7% on a year-over-year basis. As a group, analysts anticipate that Halliburton Company will post 2.34 EPS for the current year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, September 2nd. Halliburton's dividend payout ratio (DPR) is presently 35.60%.

Halliburton Company 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.

Want to see what other hedge funds are holding HAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Halliburton Company (NYSE:HAL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.