Sequoia Financial Advisors LLC Decreases Holdings in Halliburton (NYSE:HAL)

Sequoia Financial Advisors LLC reduced its position in Halliburton (NYSE:HAL) by 6.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,571 shares of the oilfield services company’s stock after selling 947 shares during the period. Sequoia Financial Advisors LLC’s holdings in Halliburton were worth $369,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sierra Ocean LLC acquired a new stake in Halliburton in the fourth quarter valued at $36,000. Modus Advisors LLC purchased a new stake in shares of Halliburton in the 4th quarter worth about $38,000. Continuum Advisory LLC grew its stake in Halliburton by 101.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock valued at $42,000 after acquiring an additional 698 shares during the last quarter. Brown Brothers Harriman & Co. increased 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 valued at $51,000 after acquiring an additional 393 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. purchased a new position in Halliburton during the 4th quarter valued at about $52,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on HAL. Royal Bank of Canada reiterated a “sector perform” rating and issued a $34.00 price target on shares of Halliburton in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their target price on Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Jefferies Financial Group dropped their price target on Halliburton from $43.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. 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 on the stock. Finally, Barclays dropped their price objective on Halliburton from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Halliburton has an average rating of “Moderate Buy” and an average price target of $37.42.

Halliburton Stock Performance

Halliburton stock opened at $24.99 on Wednesday. Halliburton has a 12 month low of $23.42 and a 12 month high of $41.56. The stock’s 50-day moving average is $26.45 and its 200-day moving average is $28.16. 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 company has a market cap of $21.69 billion, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 3.79 and a beta of 1.84.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Wednesday, March 5th. Halliburton’s dividend payout ratio is presently 24.03%.

Insider Activity at Halliburton

In related news, Director Margaret Katherine Banks sold 3,900 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $24.04, for a total transaction of $93,756.00. Following the sale, the director now directly owns 10,551 shares in the company, valued at approximately $253,646.04. This trade represents a 26.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Eric Carre sold 141,206 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 127,101 shares of the company’s stock, valued at approximately $3,321,149.13. This represents a 52.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 206,782 shares of company stock worth $5,321,170. Corporate insiders own 0.61% of the company’s stock.

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.