Legal & General Group Plc Decreases Holdings in Halliburton Company $HAL

Key Points

• Legal & General Group Plc reduced its Halliburton stake by 4.8% in the fourth quarter, selling 273,650 shares and ending with 5.37 million shares valued at about $151.8 million.
• Several analysts turned more constructive on HAL, with multiple price targets raised and the consensus rating remaining Moderate Buy at a target price of $42.86.
• Halliburton faces near-term pressure from weaker oil prices and sector-wide selling, while recent insider transactions also showed notable share sales by executives and directors.

Legal & General Group Plc cut its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,370,278 shares of the oilfield services company's stock after selling 273,650 shares during the quarter. Legal & General Group Plc owned 0.64% of Halliburton worth $151,764,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Nvest Wealth Strategies Inc. purchased a new position in shares of Halliburton in the fourth quarter worth $25,000. Kelleher Financial Advisors purchased a new position in shares of Halliburton in the third quarter worth $25,000. Cullen Frost Bankers Inc. purchased a new position in shares of Halliburton in the third quarter worth $25,000. GoalVest Advisory LLC purchased a new position in shares of Halliburton in the fourth quarter worth $35,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Halliburton in the second quarter worth $25,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on HAL shares. UBS Group lifted their target price on shares of Halliburton from $35.00 to $39.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 7th. The Goldman Sachs Group lifted 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. Rothschild & Co Redburn lifted their target price on shares of Halliburton from $40.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. JPMorgan Chase & Co. lifted their price target on shares of Halliburton from $40.00 to $42.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. Finally, Susquehanna lifted their price target on shares of Halliburton from $40.00 to $45.00 and gave the company a "positive" rating in a report on Tuesday, April 7th. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.86.

Halliburton News Summary

Here are the key news stories impacting Halliburton this week:

• Negative Sentiment: WTI crude slid on improving U.S.-Iran diplomacy and reduced geopolitical risk, which weighed on Halliburton and other oilfield services names. Helix Energy Solutions and TechnipFMC Shares Plummet, What You Need To Know
• Negative Sentiment: Halliburton was specifically cited as falling because the crude pullback may signal slower drilling and completions activity, which can hurt sentiment toward the stock. Why Halliburton (HAL) Stock Is Falling Today
• Negative Sentiment: Broad weakness hit other energy-service peers such as SLB and Baker Hughes, reinforcing that the move appears sector-driven rather than company-specific. Why SLB (SLB) Stock Is Trading Lower Today

Insider Activity

In other news, EVP Van H. Beckwith sold 198,349 shares of the business's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $41.29, for a total transaction of $8,189,830.21. Following the sale, the executive vice president owned 146,186 shares in the company, valued at approximately $6,036,019.94. The trade was a 57.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Tobi M. Young sold 6,125 shares of the business's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $41.72, for a total transaction of $255,535.00. Following the sale, the director owned 15,250 shares in the company, valued at approximately $636,230. This trade represents a 28.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 420,837 shares of company stock worth $16,979,135. 0.57% of the stock is currently owned by corporate insiders.

Halliburton Stock Performance

Shares of HAL stock opened at $39.58 on Thursday. Halliburton Company has a 12 month low of $19.44 and a 12 month high of $43.59. The stock has a market cap of $33.06 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 1.78 and a beta of 0.73. The company has a current ratio of 2.08, a quick ratio of 1.54 and a debt-to-equity ratio of 0.65. The company's fifty day moving average price is $39.38 and its 200-day moving average price is $33.99.

Halliburton (NYSE:HAL - Get Free Report) last announced its earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.05. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The firm had revenue of $5.40 billion for the quarter, compared to analysts' expectations of $5.37 billion. During the same quarter in the previous year, the business posted $0.60 EPS. The company's quarterly revenue was down .3% on a year-over-year basis. On average, equities analysts expect that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, June 3rd. Halliburton's payout ratio is 37.36%.

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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