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Halliburton senior VP sells $940k in company stock

Published 2024/05/09, 22:04
HAL
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In a recent transaction, Myrtle L. Jones, Senior Vice President - Tax at Halliburton Co (NYSE:HAL), sold 25,479 shares of the company's stock at an average price of $36.92 per share, totaling approximately $940,684. This sale was carried out in accordance with a pre-arranged trading plan.

Halliburton, known for its services in the oil and gas sector, has seen its executives actively managing their stock holdings, which is a routine occurrence in the corporate world. The transaction took place on May 7, 2024, and was publicly filed on May 9, 2024. Following the sale, Jones still owns a significant number of shares, totaling 38,620.412, which includes additional shares purchased through the Halliburton Company (NYSE:HAL) Employee Stock Purchase Plan.

The sale was executed under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell company stocks. Such plans are established to prevent any accusations of insider trading, as they are set up at a time when the insider does not possess any confidential information.

It is worth noting that insiders' stock transactions are closely watched by investors as they can provide insights into the executives' confidence in the company's future performance. However, these transactions can be motivated by a variety of personal financial considerations and do not always indicate a change in company prospects.

For investors keeping an eye on Halliburton's stock movements, the recent insider sale by a high-level executive is a piece of the larger puzzle when evaluating the company's stock performance and future potential.

InvestingPro Insights

Halliburton Co (NYSE:HAL) has recently been the subject of insider trading activity, drawing attention to its stock performance. In light of this, let's delve into some key metrics and insights from InvestingPro that could help investors better understand the company's current financial standing and future potential.

Regarding the company's valuation, Halliburton is trading at a P/E ratio of 12.93, which has adjusted to a slightly lower 12.23 when considering the last twelve months as of Q1 2024. This indicates that the stock may be trading at a reasonable valuation relative to near-term earnings growth. An InvestingPro Tip suggests that Halliburton is trading at a low P/E ratio relative to near-term earnings growth, which could be a positive sign for value investors.

Furthermore, the company's revenue has grown by 6.71% over the last twelve months as of Q1 2024, while the quarterly revenue growth in Q1 2024 is more modest at 2.24%. These figures demonstrate a steady increase in Halliburton's revenue streams.

Investors may also be interested in the company's dividend track record. Halliburton has maintained dividend payments for 54 consecutive years, with a current dividend yield of 1.84%. This consistency reflects the company's commitment to returning value to shareholders and may appeal to those seeking income-generating investments.

For those considering adding Halliburton to their portfolio, more InvestingPro Tips are available, including insights on the company's stock price volatility and gross profit margins. Currently, there are 9 additional tips listed on InvestingPro, which can be accessed at: 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.

Overall, while insider transactions like those of Myrtle L. Jones are important to consider, they should be weighed alongside comprehensive financial data and expert analysis. InvestingPro provides such data and analysis to help investors make well-informed decisions.

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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