Mitsubishi UFJ Trust & Banking Corp Lowers Stake in Halliburton (NYSE:HAL)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Halliburton (NYSE:HAL) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 396,091 shares of the oilfield services company’s stock after selling 28,176 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Halliburton were worth $10,770,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in HAL. Horrell Capital Management Inc. purchased a new position in shares of Halliburton in the 4th quarter valued at approximately $33,000. Sierra Ocean LLC purchased a new position in Halliburton in the 4th quarter valued at $36,000. Modus Advisors LLC acquired a new position in Halliburton in the 4th quarter valued at $38,000. Continuum Advisory LLC raised its position in Halliburton by 101.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock worth $42,000 after buying an additional 698 shares during the last quarter. Finally, Blume Capital Management Inc. lifted its stake 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 worth $44,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Transactions at Halliburton

In other news, CFO Eric Carre sold 141,206 shares of Halliburton stock in a transaction 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 completion of the sale, the chief financial officer now owns 127,101 shares of the company’s stock, valued at $3,321,149.13. The trade was a 52.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Timothy Mckeon sold 10,497 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $24.60, for a total value of $258,226.20. Following the transaction, the vice president now owns 77,784 shares in the company, valued at $1,913,486.40. This trade represents a 11.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,782 shares of company stock worth $5,321,170 over the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

Halliburton Stock Down 1.0 %

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

Halliburton Announces Dividend

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

Analyst Upgrades and Downgrades

HAL has been the subject of several analyst reports. Jefferies Financial Group cut their price target on shares of Halliburton from $43.00 to $41.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Stifel Nicolaus cut their target price on Halliburton from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price target on Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Piper Sandler assumed coverage on Halliburton in a research report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price objective for the company. Finally, Wells Fargo & Company decreased their target price on shares of Halliburton from $39.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.42.

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.