Corebridge Financial Inc. Has $5.66 Million Stock Holdings in Halliburton (NYSE:HAL)

Corebridge Financial Inc. decreased its stake in Halliburton (NYSE:HAL) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208,036 shares of the oilfield services company’s stock after selling 11,152 shares during the period. Corebridge Financial Inc.’s holdings in Halliburton were worth $5,656,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in shares of Halliburton by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 20,630,361 shares of the oilfield services company’s stock valued at $597,234,000 after acquiring an additional 172,505 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Halliburton by 10.4% in the 4th quarter. Pacer Advisors Inc. now owns 18,530,937 shares of the oilfield services company’s stock worth $503,856,000 after purchasing an additional 1,748,763 shares in the last quarter. Amundi raised its position in Halliburton by 22.2% in the fourth quarter. Amundi now owns 13,068,025 shares of the oilfield services company’s stock valued at $353,242,000 after purchasing an additional 2,378,043 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Halliburton by 2.1% during the third 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 valued at $166,815,000 after purchasing an additional 115,504 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Halliburton by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,435,299 shares of the oilfield services company’s stock worth $147,786,000 after purchasing an additional 187,150 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Stock Performance

Shares of Halliburton stock opened at $25.08 on Friday. The business has a 50-day simple moving average of $25.99 and a 200 day simple moving average of $27.95. Halliburton has a one year low of $23.42 and a one year high of $41.56. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.54. The firm has a market capitalization of $21.77 billion, a price-to-earnings ratio of 8.86, a PEG ratio of 3.79 and a beta of 1.84.

Halliburton Dividend Announcement

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

Insider Transactions at Halliburton

In related news, Director Margaret Katherine Banks sold 3,900 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $24.04, for a total value of $93,756.00. Following the sale, the director now owns 10,551 shares in the company, valued at $253,646.04. This represents a 26.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Eric Carre sold 141,206 shares of Halliburton stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $26.13, for a total value of $3,689,712.78. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold 206,782 shares of company stock valued at $5,321,170 over the last ninety days. 0.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Halliburton from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company cut their price target on shares of Halliburton from $39.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Griffin Securities cut shares of Halliburton from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Evercore ISI lowered their target price on Halliburton from $43.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, January 15th. Finally, Raymond James lowered Halliburton from a “strong-buy” rating to a “market perform” rating in a research report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and an average price target of $37.42.

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.