Ashburton Jersey Ltd Cuts Stock Position in Halliburton (NYSE:HAL)

Ashburton Jersey Ltd cut its stake in shares of Halliburton (NYSE:HAL) by 61.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 95,779 shares of the oilfield services company’s stock after selling 155,567 shares during the period. Halliburton comprises about 1.1% of Ashburton Jersey Ltd’s holdings, making the stock its 28th biggest holding. Ashburton Jersey Ltd’s holdings in Halliburton were worth $2,604,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HAL. Norges Bank purchased a new stake in shares of Halliburton during the fourth quarter worth approximately $299,986,000. Franklin Resources Inc. boosted its stake in Halliburton by 244.5% during the 3rd quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company’s stock worth $138,025,000 after purchasing an additional 3,203,224 shares during the last quarter. Amundi grew its holdings in shares of Halliburton by 22.2% during the fourth quarter. Amundi now owns 13,068,025 shares of the oilfield services company’s stock worth $353,242,000 after buying an additional 2,378,043 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Halliburton by 15.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,093,680 shares of the oilfield services company’s stock valued at $437,587,000 after buying an additional 2,171,722 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Halliburton by 10.4% in the fourth quarter. Pacer Advisors Inc. now owns 18,530,937 shares of the oilfield services company’s stock worth $503,856,000 after buying an additional 1,748,763 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Price Performance

HAL stock opened at $19.93 on Friday. The business’s fifty day moving average price is $25.49 and its 200 day moving average price is $27.79. Halliburton has a 12-month low of $19.59 and a 12-month high of $41.56. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $17.30 billion, a PE ratio of 7.04, a P/E/G ratio of 3.79 and a beta of 1.45.

Halliburton Announces Dividend

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

Insider Transactions at Halliburton

In related news, Director Margaret Katherine Banks sold 3,900 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $24.04, for a total transaction of $93,756.00. Following the completion of the transaction, the director now directly owns 10,551 shares of the company’s stock, valued at $253,646.04. The trade was a 26.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Eric Carre sold 141,206 shares of the stock in a transaction dated 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 in the company, valued at $3,321,149.13. This represents a 52.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,782 shares of company stock valued at $5,321,170. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

HAL has been the subject of several research reports. Raymond James cut shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a research note on Monday, January 6th. Piper Sandler began coverage on Halliburton in a research report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price target for the company. Jefferies Financial Group reduced their price objective on Halliburton from $43.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. JPMorgan Chase & Co. dropped their target price on Halliburton from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Finally, Evercore ISI reduced their price target on Halliburton from $43.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, January 15th. Seven equities research 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 an average rating of “Moderate Buy” and an average price target of $37.37.

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.