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Halliburton executive sells shares worth $114,000

Published 2024/05/21, 22:32
HAL
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In a recent transaction, Charles Geer Jr., the Senior Vice President & Chief Accounting Officer of Halliburton Co (NYSE:HAL), sold 3,000 shares of the company's common stock at a price of $38.00 per share, totaling $114,000. This transaction was executed on May 20, 2024, according to a Form 4 document filed with the Securities and Exchange Commission.

The sale was conducted under a Rule 10b5-1 trading plan, which was previously adopted by Geer on February 7, 2024. Rule 10b5-1 allows company insiders to set up a predetermined plan to sell company stocks, providing them the ability to sell shares at a time when they are not in possession of material non-public information.

Following the transaction, Geer still holds a significant number of shares in the company. The filing noted that he owns 97,083.822 shares of Halliburton stock, which includes 384 shares acquired through the company's Employee Stock Purchase Plan as of March 31, 2024.

Halliburton Co, headquartered in Houston, Texas, is a multinational corporation and currently one of the world's largest oil field service companies with operations in more than 70 countries. It provides a variety of services and products to the energy industry.

The document also detailed that Geer holds various options to buy common stock, with exercise prices ranging from $31.44 to $53.54, which are due to expire between December 2024 and December 2028. The total number of shares related to these options is reported to be 37,000.

The transactions are part of standard practices for corporate executives, who often own and trade their company's stock. Investors typically monitor these insider transactions for insights into the confidence that management has in the company's future performance, although such sales and purchases can be motivated by a variety of factors.

Investors and the market will continue to watch insider activity for signs of Halliburton's strategic direction and financial health. The company's stock performance and management's stake in the firm can often provide valuable information beyond standard financial metrics.

InvestingPro Insights

In light of recent insider trading activity at Halliburton Co (NYSE:HAL), investors might find it beneficial to consider some key metrics and insights from InvestingPro. The company's market capitalization stands at $33.31 billion, reflecting its significant presence in the oil field services sector. With a P/E ratio of 13.03 and an adjusted P/E ratio for the last twelve months as of Q1 2024 at 12.27, Halliburton is trading at a low price-to-earnings ratio relative to its near-term earnings growth. This could indicate that the stock is potentially undervalued given its earnings trajectory, an InvestingPro Tip that suggests the stock might be an attractive buy for value investors.

Additionally, Halliburton has demonstrated a solid track record of dividend payments, having maintained them for 54 consecutive years, a testament to the company's financial resilience and commitment to shareholder returns. This aligns with the company's latest dividend yield of 1.79%, which may appeal to income-focused investors. The revenue growth for the last twelve months as of Q1 2024 was 6.71%, indicating a steady increase in the company's top-line performance.

For investors seeking further insights and analysis, InvestingPro offers additional tips on Halliburton, including observations on stock price volatility, gross profit margins, and liquidity. To explore these insights in depth and for a comprehensive investment analysis, visit https://www.investing.com/pro/HAL. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 8 more InvestingPro Tips available for Halliburton Co that could provide investors with a more nuanced understanding of the company's financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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