Retirement Systems of Alabama Reduces Holdings in Halliburton (NYSE:HAL)

Retirement Systems of Alabama reduced its stake in Halliburton (NYSE:HAL) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 197,260 shares of the oilfield services company’s stock after selling 5,912 shares during the period. Retirement Systems of Alabama’s holdings in Halliburton were worth $7,131,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sourcerock Group LLC raised its holdings in Halliburton by 237.6% during the 3rd quarter. Sourcerock Group LLC now owns 1,677,194 shares of the oilfield services company’s stock valued at $67,926,000 after buying an additional 1,180,406 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Halliburton by 51.2% during the fourth quarter. Jennison Associates LLC now owns 2,539,062 shares of the oilfield services company’s stock valued at $91,787,000 after acquiring an additional 859,440 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Halliburton by 1,507.6% during the third quarter. Schonfeld Strategic Advisors LLC now owns 852,357 shares of the oilfield services company’s stock worth $34,520,000 after purchasing an additional 799,337 shares during the period. Barclays PLC grew its stake in shares of Halliburton by 32.7% in the third quarter. Barclays PLC now owns 2,339,859 shares of the oilfield services company’s stock worth $94,766,000 after purchasing an additional 575,933 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in Halliburton by 271.0% during the 4th quarter. Nordea Investment Management AB now owns 768,057 shares of the oilfield services company’s stock valued at $27,781,000 after purchasing an additional 561,020 shares during the period. Institutional investors own 85.23% of the company’s stock.

Insider Activity

In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $35.30, for a total value of $13,308,100.00. Following the completion of the transaction, the chief executive officer now owns 759,015 shares of the company’s stock, valued at approximately $26,793,229.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total value of $176,500.00. Following the transaction, the director now owns 9,625 shares of the company’s stock, valued at $339,762.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Allen Miller sold 377,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the sale, the chief executive officer now directly owns 759,015 shares of the company’s stock, valued at approximately $26,793,229.50. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HAL shares. UBS Group increased their price objective on Halliburton from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Benchmark reissued a “buy” rating and set a $45.00 price objective on shares of Halliburton in a research report on Wednesday, April 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Halliburton in a research report on Wednesday, January 24th. Wells Fargo & Company reduced their price target on shares of Halliburton from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Finally, The Goldman Sachs Group raised their price objective on shares of Halliburton from $46.00 to $48.00 in a report on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.59.

Halliburton Trading Up 0.1 %

NYSE HAL opened at $36.73 on Friday. Halliburton has a 12 month low of $27.84 and a 12 month high of $43.85. The company has a current ratio of 2.12, a quick ratio of 1.52 and a debt-to-equity ratio of 0.79. The stock’s fifty day moving average price is $38.08 and its 200-day moving average price is $37.23. The stock has a market cap of $32.52 billion, a P/E ratio of 12.71, a P/E/G ratio of 0.93 and a beta of 2.01.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.67 billion. During the same period in the previous year, the business earned $0.72 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts forecast that Halliburton will post 3.39 EPS for the current fiscal year.

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.