Halliburton (NYSE:HAL) Holdings Decreased by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its holdings in Halliburton (NYSE:HAL) by 18.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,413,848 shares of the oilfield services company’s stock after selling 559,451 shares during the period. Wells Fargo & Company MN owned about 0.27% of Halliburton worth $65,633,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Horrell Capital Management Inc. acquired a new stake in shares of Halliburton during the fourth quarter worth approximately $33,000. Sierra Ocean LLC purchased a new stake in Halliburton in the 4th quarter worth approximately $36,000. Continuum Advisory LLC boosted its stake in shares of Halliburton by 101.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock valued at $42,000 after buying an additional 698 shares during the period. Modus Advisors LLC purchased a new position in shares of Halliburton during the 4th quarter valued at $38,000. Finally, Blume Capital Management Inc. increased its stake in shares of Halliburton by 33.3% in the fourth 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 last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Trading Down 4.1 %

Shares of HAL stock opened at $19.18 on Wednesday. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. Halliburton has a 1 year low of $18.72 and a 1 year high of $41.55. The firm’s fifty day simple moving average is $25.05 and its 200 day simple moving average is $27.58. The firm has a market capitalization of $16.53 billion, a P/E ratio of 6.78, a price-to-earnings-growth ratio of 3.79 and a beta of 1.45.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date was Wednesday, March 5th. Halliburton’s dividend payout ratio is currently 24.03%.

Analyst Ratings Changes

A number of brokerages have commented on HAL. Wells Fargo & Company lowered their target price on Halliburton from $39.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Evercore ISI lowered their price target on Halliburton from $43.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, January 15th. Piper Sandler began coverage on shares of Halliburton in a research report on Thursday, December 19th. They set an “overweight” rating and a $36.00 price objective on the stock. Raymond James downgraded shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $34.00 price target on shares of Halliburton in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.37.

Insider Buying and Selling

In other news, VP Timothy Mckeon sold 10,497 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $24.60, for a total transaction of $258,226.20. Following the completion of the transaction, the vice president now directly owns 77,784 shares of the company’s stock, valued at approximately $1,913,486.40. This trade represents a 11.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eric Carre sold 51,179 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $25.00, for a total transaction of $1,279,475.00. Following the completion of the sale, the chief financial officer now directly owns 127,101 shares in the company, valued at approximately $3,177,525. The trade was a 28.71 % 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 over the last three months. 0.61% of the stock is owned by corporate insiders.

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.