SIR Capital Management L.P. Trims Stake in Halliburton Company $HAL

SIR Capital Management L.P. trimmed its stake in Halliburton Company (NYSE:HAL) by 81.8% in the 4th quarter, HoldingsChannel reports. The firm owned 90,000 shares of the oilfield services company’s stock after selling 405,300 shares during the period. SIR Capital Management L.P.’s holdings in Halliburton were worth $2,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of HAL. Newbridge Financial Services Group Inc. purchased a new stake in Halliburton in the 2nd quarter worth $25,000. Kelleher Financial Advisors purchased a new stake in Halliburton in the 3rd quarter worth $25,000. Nvest Wealth Strategies Inc. purchased a new stake in Halliburton in the 4th quarter worth $25,000. Zions Bancorporation National Association UT increased its stake in Halliburton by 196.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock worth $28,000 after buying an additional 650 shares in the last quarter. Finally, Strive Asset Management LLC purchased a new stake in Halliburton in the 3rd quarter worth $31,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Stock Down 0.6%

HAL opened at $39.52 on Friday. The firm has a 50-day simple moving average of $39.84 and a two-hundred day simple moving average of $35.03. Halliburton Company has a 52 week low of $20.09 and a 52 week high of $43.59. The company has a market capitalization of $33.02 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 1.72 and a beta of 0.69. The company has a quick ratio of 1.54, a current ratio of 2.08 and a debt-to-equity ratio of 0.65.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Tuesday, April 21st. The oilfield services company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The business had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The business’s revenue was down .3% on a year-over-year basis. Analysts forecast that Halliburton Company will post 2.34 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.7%. Halliburton’s dividend payout ratio (DPR) is presently 37.36%.

Insider Transactions at Halliburton

In related news, Director Tobi M. Young sold 6,125 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $41.72, for a total value of $255,535.00. Following the completion of the transaction, the director owned 15,250 shares of the company’s stock, valued at approximately $636,230. This trade represents a 28.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Allen Miller sold 158,455 shares of the stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $40.00, for a total transaction of $6,338,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,013,027 shares of the company’s stock, valued at approximately $40,521,080. The trade was a 13.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 416,991 shares of company stock worth $16,846,948 in the last quarter. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. HSBC increased their price target on Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Evercore increased their price target on Halliburton from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Jefferies Financial Group reiterated a “buy” rating and issued a $47.00 price target on shares of Halliburton in a research note on Sunday, April 26th. Piper Sandler increased their price target on Halliburton from $34.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Finally, Royal Bank Of Canada increased their price target on Halliburton from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Eighteen 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.27.

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.