Jacobi Capital Management LLC Cuts Stock Holdings in Halliburton (NYSE:HAL)

Jacobi Capital Management LLC trimmed its position in shares of Halliburton (NYSE:HAL) by 17.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 11,670 shares of the oilfield services company’s stock after selling 2,529 shares during the quarter. Jacobi Capital Management LLC’s holdings in Halliburton were worth $317,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. MidWestOne Financial Group Inc. boosted 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 worth $250,000 after acquiring an additional 359 shares during the last quarter. Public Sector Pension Investment Board boosted 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 worth $4,480,000 after acquiring an additional 390 shares during the last quarter. Brown Brothers Harriman & Co. boosted 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 worth $51,000 after acquiring an additional 393 shares during the last quarter. HBW Advisory Services LLC boosted 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 worth $286,000 after acquiring an additional 397 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Halliburton by 34.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after acquiring an additional 412 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Trading Up 0.9 %

Shares of HAL opened at $26.34 on Monday. The business’s 50-day moving average price is $27.03 and its 200-day moving average price is $28.73. Halliburton has a twelve month low of $25.16 and a twelve month high of $41.56. The stock has a market cap of $22.86 billion, a PE ratio of 9.31, a P/E/G ratio of 3.79 and a beta of 1.89. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Wednesday, March 5th. Halliburton’s dividend payout ratio is presently 24.03%.

Wall Street Analysts Forecast Growth

HAL has been the topic of a number of research analyst reports. Raymond James downgraded shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a report on Monday, January 6th. Benchmark cut their price target on shares of Halliburton from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Griffin Securities downgraded shares of Halliburton from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Stifel Nicolaus cut their price target on shares of Halliburton from $42.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Finally, Piper Sandler initiated coverage on shares of 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.com, Halliburton currently has a consensus rating of “Moderate Buy” and an average price target of $37.42.

Insider Activity

In related news, CFO Eric Carre sold 141,206 shares of the company’s stock in a transaction that occurred on 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 directly owns 127,101 shares in the company, valued at approximately $3,321,149.13. This represents a 52.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

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.