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HOUSTON—Eric Carre, Executive Vice President and Chief Financial Officer of Halliburton Co . (NYSE:HAL), recently sold a significant portion of his holdings in the oilfield services giant. According to a filing with the Securities and Exchange Commission, Carre sold 141,206 shares of Halliburton common stock on February 11, 2025. The shares were sold at a price of $26.13 each, totaling approximately $3.69 million. The sale comes as Halliburton trades near its 52-week low of $25.16, with InvestingPro analysis indicating the stock is currently undervalued.
Following this transaction, Carre now holds 127,101 shares of Halliburton stock directly. The sale was executed under a pre-arranged Rule 10b5-1 trading plan, which Carre adopted on November 12, 2024. This type of trading plan allows company insiders to sell a predetermined number of shares at a predetermined time, providing a defense against accusations of insider trading. Despite the insider sale, Halliburton maintains strong fundamentals with a P/E ratio of 9.21 and an overall GREAT financial health score according to InvestingPro’s comprehensive analysis.
In addition to his stock holdings, Carre also holds options to buy additional shares of Halliburton common stock, with varying exercise prices and expiration dates. These options cover a total of 124,159 shares.
Halliburton, headquartered in Houston, Texas, is a leading provider of products and services to the energy industry. The company operates in more than 70 countries, offering services ranging from drilling and evaluation to completion and production.
In other recent news, Halliburton has secured a significant drilling contract from Petrobras, marking the company’s most extensive service contract with the Brazilian state-controlled oil firm to date. The deal, which will commence in 2025, involves integrated drilling services for offshore fields in Brazil. Halliburton will deploy a suite of its advanced technologies, including the iCruise® intelligent rotary steerable system and LOGIX™ automation platform, to improve drilling efficiency and precision.
Meanwhile, several analysts have revised their price targets for Halliburton. Benchmark cut its price target from $40 to $35, Stifel reduced it from $42 to $37, and Goldman Sachs lowered its target from $36 to $34, all maintaining a Buy rating. Conversely, JPMorgan raised its target from $33 to $35 and also retained an Overweight rating. These adjustments follow Halliburton’s revised 2025 outlook and recent quarterly earnings.
These recent developments indicate mixed expectations among analysts. Challenges in Mexico and North America are predicted to impact revenue and margins, but the company’s robust product portfolio, technological innovation, and strong international presence are seen as potential growth drivers. Halliburton’s management also anticipates that advancements in drilling technologies could add an additional $2.5 to $3 billion in annual revenue over the next three to five years.
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