Halliburton (NYSE:HAL) Shares Bought by Korea Investment CORP

Korea Investment CORP increased its stake in Halliburton (NYSE:HAL) by 92.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 788,939 shares of the oilfield services company’s stock after buying an additional 378,917 shares during the period. Korea Investment CORP’s holdings in Halliburton were worth $21,451,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Horrell Capital Management Inc. purchased a new position in Halliburton in the 4th quarter worth about $33,000. Sierra Ocean LLC acquired a new position in shares of Halliburton in the fourth quarter worth about $36,000. Modus Advisors LLC purchased a new position in shares of Halliburton in the fourth quarter worth approximately $38,000. Continuum Advisory LLC raised its holdings in shares of Halliburton by 101.2% during the third quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock valued at $42,000 after acquiring an additional 698 shares during the period. Finally, Blume Capital Management Inc. lifted its position in shares of Halliburton by 33.3% in the 4th quarter. Blume Capital Management Inc. now owns 1,600 shares of the oilfield services company’s stock valued at $44,000 after acquiring an additional 400 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Halliburton

In other Halliburton news, CFO Eric Carre sold 141,206 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $26.13, for a total value of $3,689,712.78. Following the sale, the chief financial officer now owns 127,101 shares of the company’s stock, valued at $3,321,149.13. This trade represents a 52.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Margaret Katherine Banks sold 3,900 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $24.04, for a total value of $93,756.00. Following the transaction, the director now owns 10,551 shares of the company’s stock, valued at approximately $253,646.04. This trade represents a 26.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 206,782 shares of company stock worth $5,321,170. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Barclays lowered their price objective on shares of Halliburton from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. JPMorgan Chase & Co. dropped their price target on Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $34.00 price objective on shares of Halliburton in a research report on Thursday, January 23rd. Piper Sandler initiated coverage on Halliburton in a report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 target price on the stock. Finally, Griffin Securities cut shares of Halliburton from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and an average price target of $37.42.

Halliburton Stock Performance

Shares of NYSE HAL opened at $25.08 on Friday. The business’s 50-day simple moving average is $25.99 and its 200-day simple moving average is $27.95. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 2.05. Halliburton has a 52 week low of $23.42 and a 52 week high of $41.56. The firm has a market cap of $21.77 billion, a price-to-earnings ratio of 8.86, a P/E/G ratio of 3.79 and a beta of 1.84.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Wednesday, March 5th. Halliburton’s dividend payout ratio is 24.03%.

Halliburton Company 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.