Halliburton (NYSE:HAL) Stock Position Lifted by DnB Asset Management AS

DnB Asset Management AS lifted its stake in shares of Halliburton (NYSE:HAL) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 174,178 shares of the oilfield services company’s stock after purchasing an additional 7,830 shares during the quarter. DnB Asset Management AS’s holdings in Halliburton were worth $4,736,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Mediolanum International Funds Ltd raised its position in shares of Halliburton by 48.2% during the 4th quarter. Mediolanum International Funds Ltd now owns 71,797 shares of the oilfield services company’s stock worth $1,931,000 after buying an additional 23,340 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Halliburton by 3.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,257,250 shares of the oilfield services company’s stock worth $61,375,000 after purchasing an additional 80,567 shares in the last quarter. Congress Asset Management Co. acquired a new stake in Halliburton in the fourth quarter worth approximately $621,000. Massachusetts Wealth Management boosted its stake in Halliburton by 180.9% during the 4th quarter. Massachusetts Wealth Management now owns 43,675 shares of the oilfield services company’s stock valued at $1,188,000 after purchasing an additional 28,125 shares in the last quarter. Finally, Scott & Selber Inc. increased its position in shares of Halliburton by 109.9% during the 4th quarter. Scott & Selber Inc. now owns 81,335 shares of the oilfield services company’s stock valued at $2,211,000 after purchasing an additional 42,590 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Stock Down 1.0 %

HAL stock opened at $25.08 on Monday. The company has a 50 day moving average of $25.99 and a two-hundred day moving average of $27.95. The company has a market cap 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 has a 12-month low of $23.42 and a 12-month 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 announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were paid a $0.17 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.68 dividend on an annualized basis and a yield of 2.71%. Halliburton’s dividend payout ratio (DPR) is currently 24.03%.

Insiders Place Their Bets

In other news, Director Margaret Katherine Banks sold 3,900 shares of the stock in a transaction on 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 owns 10,551 shares in the company, valued at $253,646.04. This represents a 26.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Eric Carre sold 141,206 shares of Halliburton 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 sale, the chief financial officer now directly owns 127,101 shares of the company’s stock, valued at approximately $3,321,149.13. The trade was a 52.63 % 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 valued at $5,321,170 in the last three months. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays decreased their target price on Halliburton from $32.00 to $30.00 and set an “equal weight” rating for the company 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 for the company in a research report on Wednesday, January 15th. Wells Fargo & Company dropped their target price 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. JPMorgan Chase & Co. reduced their target price 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. Finally, Piper Sandler assumed coverage on Halliburton in a report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Halliburton presently has a consensus rating of “Moderate Buy” and a consensus 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.