Gallacher Capital Management LLC Decreases Stock Position in Halliburton (NYSE:HAL)

Gallacher Capital Management LLC cut its stake in shares of Halliburton (NYSE:HAL) by 16.9% in the 4th quarter, HoldingsChannel reports. The fund owned 19,137 shares of the oilfield services company’s stock after selling 3,898 shares during the quarter. Gallacher Capital Management LLC’s holdings in Halliburton were worth $520,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sierra Ocean LLC purchased a new stake in shares of Halliburton during the fourth quarter valued at approximately $36,000. Continuum Advisory LLC boosted its position in 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 bought a new stake in Halliburton in the 4th quarter worth $38,000. Blume Capital Management Inc. increased its position 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 valued at $44,000 after acquiring an additional 400 shares during the period. Finally, Venturi Wealth Management LLC raised its stake in shares of Halliburton by 34.2% during the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock valued at $47,000 after acquiring an additional 412 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

Halliburton Stock Up 3.1 %

Shares of NYSE:HAL opened at $25.09 on Friday. The stock has a fifty day simple moving average of $26.55 and a two-hundred day simple moving average of $28.27. 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 stock has a market capitalization of $21.78 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 3.79 and a beta of 1.84. Halliburton has a 12-month low of $23.42 and a 12-month high of $41.56.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.68 annualized dividend and a yield of 2.71%. Halliburton’s dividend payout ratio (DPR) is presently 24.03%.

Insiders Place Their Bets

In other 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 value of $93,756.00. Following the completion of the transaction, the director now owns 10,551 shares in the company, valued at $253,646.04. The trade was a 26.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Eric Carre sold 141,206 shares of the business’s stock in a transaction 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 $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 ninety days, insiders sold 155,603 shares of company stock valued at $4,041,695. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HAL. Evercore ISI dropped their target price on shares of Halliburton from $43.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, January 15th. Wells Fargo & Company dropped their price objective on Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Raymond James cut Halliburton from a “strong-buy” rating to a “market perform” rating in a report on Monday, January 6th. Griffin Securities lowered Halliburton from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $34.00 price target on shares of Halliburton 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.42.

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.