Meiji Yasuda Asset Management Co Ltd. Takes $498,000 Position in Halliburton Company $HAL

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Halliburton Company (NYSE:HAL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,628 shares of the oilfield services company’s stock, valued at approximately $498,000.

Several other large investors have also made changes to their positions in the company. Clearstead Trust LLC lifted its stake in shares of Halliburton by 7.4% during the third quarter. Clearstead Trust LLC now owns 5,370 shares of the oilfield services company’s stock valued at $132,000 after acquiring an additional 370 shares during the period. Angeles Wealth Management LLC lifted its stake in shares of Halliburton by 3.6% during the third quarter. Angeles Wealth Management LLC now owns 11,320 shares of the oilfield services company’s stock valued at $278,000 after acquiring an additional 392 shares during the period. Greenleaf Trust lifted its stake in shares of Halliburton by 2.4% during the fourth quarter. Greenleaf Trust now owns 16,789 shares of the oilfield services company’s stock valued at $474,000 after acquiring an additional 399 shares during the period. True Wealth Design LLC lifted its stake in shares of Halliburton by 21.0% during the fourth quarter. True Wealth Design LLC now owns 2,434 shares of the oilfield services company’s stock valued at $69,000 after acquiring an additional 423 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in Halliburton by 22.2% in the third quarter. Parkside Financial Bank & Trust now owns 2,369 shares of the oilfield services company’s stock valued at $58,000 after buying an additional 431 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Buying and Selling

In other Halliburton news, EVP Van H. Beckwith sold 198,349 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $41.29, for a total value of $8,189,830.21. Following the completion of the sale, the executive vice president directly owned 146,186 shares in the company, valued at $6,036,019.94. This represents a 57.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Timothy Mckeon sold 8,655 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $42.00, for a total value of $363,510.00. Following the completion of the sale, the vice president owned 72,976 shares of the company’s stock, valued at $3,064,992. This trade represents a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 420,837 shares of company stock valued at $16,979,135. 0.57% of the stock is owned by company insiders.

Halliburton News Roundup

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton announced a quarterly dividend of $0.17 per share, signaling continued capital returns to shareholders and reinforcing management’s confidence in cash generation. Halliburton Announces Dividend
• Positive Sentiment: CEO Jeff Miller joining Noble Corporation’s board may be seen as a vote of confidence in Halliburton’s leadership and industry standing, while also highlighting Miller’s influence across the offshore drilling sector. Noble Corporation plc Announces New Director Appointment
• Neutral Sentiment: Articles focused on Halliburton’s Russell 1000 filing and broader market commentary are drawing fresh attention to the name, but they do not appear to change the company’s fundamentals on their own. Halliburton Russell 1000 Filing Raises Fresh Focus
• Neutral Sentiment: Recent notes from analysts and market outlets highlight that HAL has been up since its last earnings report, suggesting investor sentiment remains constructive after the company beat quarterly EPS estimates and slightly topped revenue expectations. Halliburton (HAL) Up 8.2% Since Last Earnings Report: Can It Continue?

Analyst Upgrades and Downgrades

Several research firms have weighed in on HAL. Citigroup increased their target price on Halliburton from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Argus increased their target price on Halliburton from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. JPMorgan Chase & Co. increased their target price on Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Halliburton in a research note on Friday, April 10th. Finally, HSBC increased their target price on Halliburton from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.86.

Halliburton Stock Down 1.1%

Shares of Halliburton stock opened at $41.50 on Friday. Halliburton Company has a 1 year low of $19.42 and a 1 year high of $43.59. The business has a 50-day moving average of $38.99 and a two-hundred day moving average of $33.65. The company has a market capitalization of $34.67 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 1.79 and a beta of 0.73. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The company had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities analysts predict that Halliburton Company will post 2.34 EPS for the current year.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Shareholders 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 1.6%. The ex-dividend date is Wednesday, June 3rd. Halliburton’s dividend payout ratio is 37.36%.

Halliburton 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.