Advisors Asset Management Inc. Decreases Stock Holdings in Halliburton (NYSE:HAL)

Advisors Asset Management Inc. reduced its holdings in shares of Halliburton (NYSE:HAL) by 15.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 116,985 shares of the oilfield services company’s stock after selling 21,684 shares during the period. Advisors Asset Management Inc.’s holdings in Halliburton were worth $3,181,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. MidWestOne Financial Group Inc. grew its holdings in Halliburton by 4.4% during the 3rd quarter. MidWestOne Financial Group Inc. now owns 8,610 shares of the oilfield services company’s stock valued at $250,000 after purchasing an additional 359 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in Halliburton by 0.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 154,210 shares of the oilfield services company’s stock valued at $4,480,000 after purchasing an additional 390 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in Halliburton by 28.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock valued at $51,000 after purchasing an additional 393 shares in the last quarter. HBW Advisory Services LLC grew its holdings in Halliburton by 3.9% during the 4th quarter. HBW Advisory Services LLC now owns 10,504 shares of the oilfield services company’s stock valued at $286,000 after purchasing an additional 397 shares in the last quarter. Finally, Blume Capital Management Inc. grew its holdings in Halliburton by 33.3% during the 4th quarter. Blume Capital Management Inc. now owns 1,600 shares of the oilfield services company’s stock valued at $44,000 after purchasing an additional 400 shares in the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays lowered their price target on shares of Halliburton from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Piper Sandler started coverage on shares of Halliburton in a research note on Thursday, December 19th. They set an “overweight” rating and a $36.00 price objective on the stock. Benchmark reduced their price objective on shares of Halliburton from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Evercore ISI reduced their price objective on shares of Halliburton from $43.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company reduced their price objective on shares of Halliburton from $39.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.42.

Halliburton Trading Down 1.0 %

Shares of NYSE:HAL opened at $24.75 on Friday. The company has a market cap of $21.48 billion, a PE ratio of 8.74, a P/E/G ratio of 3.79 and a beta of 1.84. The company’s 50-day moving average price is $26.32 and its 200 day moving average price is $28.08. Halliburton has a fifty-two week low of $23.42 and a fifty-two week high of $41.56. The company has a quick ratio of 1.54, a current ratio of 2.05 and a debt-to-equity ratio of 0.68.

Halliburton Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.68 annualized dividend and a yield of 2.75%. Halliburton’s dividend payout ratio is presently 24.03%.

Insider Activity at Halliburton

In other Halliburton news, CFO Eric Carre sold 141,206 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 127,101 shares of the company’s stock, valued at approximately $3,321,149.13. This trade represents a 52.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Margaret Katherine Banks sold 3,900 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $24.04, for a total transaction of $93,756.00. Following the transaction, the director now directly owns 10,551 shares in the company, valued at approximately $253,646.04. The trade was a 26.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,782 shares of company stock worth $5,321,170 in the last ninety days. 0.61% of the stock is owned by 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.