Nykredit A S Invests $12.31 Million in Halliburton Company $HAL

Key Points

• Nykredit A/S acquired 362,629 Halliburton shares during the second quarter, worth approximately $12.31 million. Institutional investors collectively own 85.23% of Halliburton’s outstanding stock.
• Analysts remain broadly positive, with 18 Buy ratings, six Holds and one Sell rating, resulting in a “Moderate Buy” consensus and an average price target of $43.24.
• Halliburton exceeded quarterly earnings expectations, reporting $0.55 in EPS and $5.71 billion in revenue, while revenue rose 3.7% year over year. The company also declared a quarterly dividend of $0.17 per share, representing a 2.0% annualized yield.

Nykredit A S acquired a new stake in Halliburton Company (NYSE:HAL - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 362,629 shares of the oilfield services company's stock, valued at approximately $12,311,000.

A number of other institutional investors have also modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC grew its stake in Halliburton by 10.2% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,794 shares of the oilfield services company's stock worth $109,000 after buying an additional 258 shares during the period. Vermillion Wealth Management Inc. lifted its holdings in shares of Halliburton by 24.8% during the 4th quarter. Vermillion Wealth Management Inc. now owns 1,456 shares of the oilfield services company's stock valued at $41,000 after acquiring an additional 289 shares in the last quarter. Carlson Financial Inc. boosted its position in Halliburton by 2.7% during the 2nd quarter. Carlson Financial Inc. now owns 11,278 shares of the oilfield services company's stock worth $383,000 after purchasing an additional 295 shares during the period. Greenleaf Trust increased its holdings in Halliburton by 2.0% in the 2nd quarter. Greenleaf Trust now owns 17,348 shares of the oilfield services company's stock valued at $589,000 after purchasing an additional 342 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its position in Halliburton by 1.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 23,312 shares of the oilfield services company's stock valued at $659,000 after purchasing an additional 349 shares during the period. Hedge funds and other institutional investors own 85.23% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on HAL shares. TD Cowen decreased their target price on Halliburton from $48.00 to $47.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. BMO Capital Markets set a $37.00 price target on Halliburton in a research report on Wednesday, July 22nd. Citigroup upped their price target on Halliburton from $47.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, June 3rd. Piper Sandler raised shares of Halliburton from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $40.00 to $43.00 in a research report on Tuesday, July 14th. Finally, Freedom Capital upgraded shares of Halliburton from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 22nd. Eighteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.24.

Insider Transactions at Halliburton

In other Halliburton news, COO Jeffrey Slocum sold 52,572 shares of the firm's stock in a transaction 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 completion of the transaction, the chief operating officer directly owned 118,730 shares of the company's stock, valued at $4,166,235.70. This trade represents a 30.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is owned by corporate insiders.

Halliburton Trading Up 0.0%

NYSE:HAL opened at $33.65 on Monday. The stock has a market cap of $28.03 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 1.94 and a beta of 0.76. Halliburton Company has a one year low of $21.46 and a one year high of $43.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.50 and a current ratio of 2.02. The business's 50-day simple moving average is $34.45 and its 200 day simple moving average is $36.67.

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

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be issued 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 2.0%. Halliburton's dividend payout ratio is currently 35.60%.

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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