Insider Selling: Halliburton (NYSE:HAL) CFO Sells 24,778 Shares of Stock

Key Points

• Halliburton CFO Eric Carre sold 24,778 shares on June 18 at an average price of $35.89, totaling about $889,282. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and his direct stake fell 14.3% to 148,520 shares.
• HAL shares were slightly lower in Monday trading at $34.78, with the stock sitting below its 50-day average of $39.66 but near its 200-day average of $35.45. Halliburton’s market cap is about $29.06 billion, and its 1-year range is $20.09 to $43.59.
• Halliburton has been beating expectations and pays a dividend, reporting $0.55 EPS versus $0.50 expected in its latest quarter and declaring a quarterly dividend of $0.17 per share. The annualized dividend yield is about 2.0%, and analysts currently rate the stock a Moderate Buy with an average target of $43.27.

Halliburton Company (NYSE:HAL - Get Free Report) CFO Eric Carre sold 24,778 shares of Halliburton stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total transaction of $889,282.42. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Halliburton Price Performance

Shares of NYSE HAL traded down $0.14 during mid-day trading on Monday, reaching $34.78. The company's stock had a trading volume of 4,364,235 shares, compared to its average volume of 14,301,494. The stock has a 50-day moving average of $39.66 and a two-hundred day moving average of $35.45. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08. The stock has a market capitalization of $29.06 billion, a P/E ratio of 19.11, a P/E/G ratio of 1.51 and a beta of 0.70. Halliburton Company has a 1-year low of $20.09 and a 1-year high of $43.59.

Halliburton (NYSE:HAL - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share for the quarter, topping 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 analyst estimates of $5.37 billion. During the same period in the previous year, the business posted $0.60 earnings per share. Halliburton's quarterly revenue was down .3% on a year-over-year basis. On average, equities research analysts anticipate that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, June 3rd. Halliburton's dividend payout ratio (DPR) is currently 37.36%.

Wall Street Analyst Weigh In

Several analysts have issued reports on HAL shares. Griffin Securities upgraded Halliburton from a "neutral" rating to a "buy" rating and set a $47.00 target price for the company in a report on Wednesday, April 22nd. Evercore lifted their price target on Halliburton from $42.00 to $46.00 and gave the stock an "outperform" rating in a report on Thursday, May 28th. Susquehanna boosted their price target on shares of Halliburton from $40.00 to $45.00 and gave the company a "positive" rating in a research report on Tuesday, April 7th. Stifel Nicolaus reissued a "buy" rating and issued a $43.00 price objective (up from $36.00) on shares of Halliburton in a report on Wednesday, April 22nd. Finally, Zephirin Group raised their price objective on shares of Halliburton from $30.00 to $31.00 and gave the stock a "sell" rating in a research report on Wednesday, April 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $43.27.

Institutional Investors Weigh In On Halliburton

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HAL. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Halliburton by 10.2% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,794 shares of the oilfield services company's stock worth $109,000 after purchasing an additional 258 shares during the period. Vermillion Wealth Management Inc. raised its holdings in Halliburton by 24.8% in the 4th quarter. Vermillion Wealth Management Inc. now owns 1,456 shares of the oilfield services company's stock valued at $41,000 after buying an additional 289 shares during the period. Coldstream Capital Management Inc. raised its holdings in Halliburton by 1.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 23,312 shares of the oilfield services company's stock valued at $659,000 after buying an additional 349 shares during the period. Harbour Investments Inc. lifted its position in Halliburton by 7.3% in the fourth quarter. Harbour Investments Inc. now owns 5,320 shares of the oilfield services company's stock valued at $150,000 after buying an additional 361 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its position in Halliburton by 3.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 10,363 shares of the oilfield services company's stock valued at $293,000 after buying an additional 365 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company's stock.

About Halliburton

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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