Elo Mutual Pension Insurance Co Trims Position in Halliburton (NYSE:HAL)

Elo Mutual Pension Insurance Co decreased its position in shares of Halliburton (NYSE:HAL) by 19.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 76,672 shares of the oilfield services company’s stock after selling 18,569 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Halliburton were worth $2,590,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in Halliburton during the 1st quarter valued at approximately $26,000. Johnson Financial Group Inc. bought a new stake in Halliburton during the fourth quarter worth approximately $33,000. Bruce G. Allen Investments LLC raised its position in Halliburton by 274.9% during the second quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock valued at $38,000 after purchasing an additional 822 shares during the period. Crewe Advisors LLC bought a new stake in shares of Halliburton in the 1st quarter valued at approximately $46,000. Finally, Assetmark Inc. boosted its holdings in shares of Halliburton by 286.2% in the 4th quarter. Assetmark Inc. now owns 1,201 shares of the oilfield services company’s stock worth $43,000 after purchasing an additional 890 shares during the period. Institutional investors own 85.23% of the company’s stock.

Halliburton Price Performance

NYSE HAL opened at $29.53 on Friday. The company has a market cap of $26.14 billion, a PE ratio of 10.22, a P/E/G ratio of 0.95 and a beta of 1.89. The firm’s 50 day moving average price is $31.57 and its 200-day moving average price is $34.88. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.54 and a current ratio of 2.13. Halliburton has a 52-week low of $27.52 and a 52-week high of $43.85.

Halliburton (NYSE:HAL) last announced its earnings results on Friday, July 19th. The oilfield services company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $5.83 billion for the quarter, compared to analysts’ expectations of $5.95 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS. Sell-side analysts forecast that Halliburton will post 3.14 EPS for the current fiscal year.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.30%. Halliburton’s dividend payout ratio is presently 23.53%.

Insider Buying and Selling at Halliburton

In related news, EVP Van H. Beckwith sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $36.75, for a total transaction of $367,500.00. Following the completion of the transaction, the executive vice president now owns 273,908 shares in the company, valued at approximately $10,066,119. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HAL shares. Morgan Stanley lowered their price target on Halliburton from $45.00 to $35.00 and set an “overweight” rating for the company in a research report on Monday. Jefferies Financial Group lowered their target price on shares of Halliburton from $50.00 to $47.00 and set a “buy” rating for the company in a report on Monday, July 29th. Evercore ISI cut their price target on shares of Halliburton from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. The Goldman Sachs Group decreased their price objective on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Piper Sandler cut their target price on Halliburton from $46.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Three equities research 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

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.