Sierra Ocean LLC Makes New $36,000 Investment in Halliburton (NYSE:HAL)

Sierra Ocean LLC purchased a new position in shares of Halliburton (NYSE:HAL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,339 shares of the oilfield services company’s stock, valued at approximately $36,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of Halliburton by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 20,630,361 shares of the oilfield services company’s stock worth $597,234,000 after buying an additional 172,505 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Halliburton by 10.4% during the 4th quarter. Pacer Advisors Inc. now owns 18,530,937 shares of the oilfield services company’s stock worth $503,856,000 after buying an additional 1,748,763 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Halliburton by 2.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,742,352 shares of the oilfield services company’s stock worth $166,815,000 after buying an additional 115,504 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Halliburton by 22.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,520,383 shares of the oilfield services company’s stock worth $160,367,000 after buying an additional 995,649 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Halliburton by 31.3% during the 4th quarter. Van ECK Associates Corp now owns 5,100,693 shares of the oilfield services company’s stock worth $138,688,000 after buying an additional 1,214,586 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on HAL shares. Evercore ISI dropped their target price on shares of Halliburton from $43.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, January 15th. Susquehanna dropped their target price on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Griffin Securities downgraded shares of Halliburton from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Morgan Stanley dropped their target price 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. Finally, Piper Sandler started coverage on shares of Halliburton in a report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Halliburton has an average rating of “Moderate Buy” and a consensus price target of $37.42.

Insider Transactions at Halliburton

In related news, CFO Eric Carre sold 141,206 shares of the company’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 transaction, the chief financial officer now directly owns 127,101 shares in the company, valued at $3,321,149.13. This represents a 52.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is owned by corporate insiders.

Halliburton Price Performance

Shares of Halliburton stock opened at $26.16 on Tuesday. The firm has a fifty day simple moving average of $27.30 and a 200-day simple moving average of $29.07. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. Halliburton has a 1-year low of $25.16 and a 1-year high of $41.56. The stock has a market capitalization of $22.98 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 3.53 and a beta of 1.89.

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Wednesday, March 5th. Halliburton’s payout ratio is 24.03%.

Halliburton 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.