Sompo Asset Management Co. Ltd. Reduces Stock Holdings in Halliburton (NYSE:HAL)

Sompo Asset Management Co. Ltd. trimmed its position in Halliburton (NYSE:HAL) by 43.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,940 shares of the oilfield services company’s stock after selling 7,750 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Halliburton were worth $336,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors lifted its position in shares of Halliburton by 0.3% during the 1st quarter. Capital World Investors now owns 121,928,734 shares of the oilfield services company’s stock valued at $4,806,431,000 after buying an additional 377,500 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Halliburton by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock worth $3,952,805,000 after purchasing an additional 2,618,740 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Halliburton by 46.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock worth $2,408,171,000 after purchasing an additional 19,237,784 shares in the last quarter. Sanders Capital LLC lifted its holdings in Halliburton by 3.4% in the 4th quarter. Sanders Capital LLC now owns 23,538,783 shares of the oilfield services company’s stock worth $850,927,000 after purchasing an additional 782,093 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in Halliburton by 17,317.6% in the 2nd quarter. Pacer Advisors Inc. now owns 13,631,188 shares of the oilfield services company’s stock worth $460,462,000 after purchasing an additional 13,552,927 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Halliburton

In other news, EVP Van H. Beckwith sold 10,000 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $36.75, for a total transaction of $367,500.00. Following the transaction, the executive vice president now owns 273,908 shares of the company’s stock, valued at approximately $10,066,119. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on HAL. Johnson Rice raised Halliburton to a “moderate buy” rating in a report on Friday, July 19th. Piper Sandler reduced their price objective on Halliburton from $46.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Dbs Bank began coverage on Halliburton in a research note on Wednesday. They issued a “buy” rating and a $45.00 price objective on the stock. UBS Group reduced their price objective on Halliburton from $41.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley reduced their price objective on Halliburton from $45.00 to $35.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.17.

Halliburton Stock Performance

HAL stock opened at $29.47 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. The business’s fifty day simple moving average is $31.48 and its two-hundred day simple moving average is $34.84. Halliburton has a twelve month low of $27.52 and a twelve month high of $43.85. The firm has a market cap of $26.09 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 0.95 and a beta of 1.89.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The business had revenue of $5.83 billion for the quarter, compared to the consensus estimate of $5.95 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The business’s revenue was up .6% compared to the same quarter last year. Analysts predict that Halliburton will post 3.14 earnings per share for the current year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Wednesday, September 4th. Halliburton’s payout ratio is 23.53%.

Halliburton Company Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.