Prudential PLC Sells 54,229 Shares of Halliburton (NYSE:HAL)

Prudential PLC lowered its position in Halliburton (NYSE:HAL) by 12.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 384,079 shares of the oilfield services company’s stock after selling 54,229 shares during the period. Prudential PLC’s holdings in Halliburton were worth $10,443,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Horrell Capital Management Inc. bought a new position in Halliburton in the fourth quarter worth $33,000. Sierra Ocean LLC bought a new position in shares of Halliburton during the 4th quarter worth about $36,000. Continuum Advisory LLC lifted its holdings 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 worth $42,000 after acquiring an additional 698 shares during the period. Modus Advisors LLC acquired a new stake in shares of Halliburton during the 4th quarter valued at about $38,000. Finally, Blume Capital Management Inc. increased its stake in Halliburton by 33.3% in the fourth quarter. Blume Capital Management Inc. now owns 1,600 shares of the oilfield services company’s stock valued at $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 Buying and Selling at Halliburton

In other Halliburton news, 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 value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Margaret Katherine Banks sold 3,900 shares of the 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 transaction, the director now directly owns 10,551 shares in the company, valued at $253,646.04. This trade represents a 26.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,782 shares of company stock valued at $5,321,170. 0.61% of the stock is currently owned by company insiders.

Halliburton Trading Down 11.0 %

HAL opened at $19.93 on Friday. Halliburton has a twelve month low of $19.59 and a twelve month high of $41.56. The company has a fifty day moving average of $25.49 and a 200-day moving average of $27.80. The stock has a market cap of $17.30 billion, a PE ratio of 7.04, a price-to-earnings-growth ratio of 3.79 and a beta of 1.45. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.68 dividend on an annualized basis and a yield of 3.41%. Halliburton’s payout ratio is currently 24.03%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HAL. Griffin Securities cut Halliburton from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Barclays cut their price objective on Halliburton from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, March 31st. Piper Sandler initiated coverage on shares of Halliburton in a report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 target price on the stock. 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. Finally, Benchmark decreased their price objective on shares of Halliburton from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.37.

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.