Bank of New York Mellon Corp Sells 292,630 Shares of Halliburton (NYSE:HAL)

Bank of New York Mellon Corp cut its stake in shares of Halliburton (NYSE:HAL) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,884,658 shares of the oilfield services company’s stock after selling 292,630 shares during the quarter. Bank of New York Mellon Corp owned 0.78% of Halliburton worth $187,194,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP grew its stake in shares of Halliburton by 5.9% during the third quarter. Allworth Financial LP now owns 8,212 shares of the oilfield services company’s stock worth $239,000 after buying an additional 454 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Halliburton by 18.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,206 shares of the oilfield services company’s stock worth $2,040,000 after acquiring an additional 11,276 shares during the last quarter. PFG Investments LLC acquired a new position in Halliburton in the 3rd quarter worth about $282,000. Wealth Enhancement Advisory Services LLC raised its position in Halliburton by 13.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 101,179 shares of the oilfield services company’s stock valued at $2,939,000 after purchasing an additional 12,067 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in Halliburton by 1.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 324,735 shares of the oilfield services company’s stock valued at $9,325,000 after purchasing an additional 3,110 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Trading Up 0.5 %

NYSE:HAL opened at $26.05 on Friday. Halliburton has a 12 month low of $25.16 and a 12 month high of $41.56. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $22.61 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 3.79 and a beta of 1.89. The firm has a fifty day simple moving average of $27.02 and a two-hundred day simple moving average of $28.79.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Wednesday, March 5th. Halliburton’s payout ratio is 24.03%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Piper Sandler started coverage on Halliburton in a research note on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price objective for the company. Benchmark decreased their price target on shares of Halliburton from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Morgan Stanley cut their price target on shares of Halliburton from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Susquehanna decreased their price objective on Halliburton from $42.00 to $40.00 and set a “positive” rating for the company in a report on Friday, November 8th. Finally, Evercore ISI cut their target price on Halliburton from $43.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, January 15th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.42.

Insider Buying and Selling

In other Halliburton news, CFO Eric Carre sold 141,206 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $26.13, for a total transaction of $3,689,712.78. Following the completion of the sale, the chief financial officer now owns 127,101 shares in the company, valued at approximately $3,321,149.13. The trade was a 52.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.61% of the stock is owned by company insiders.

About Halliburton

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.