Advisors Asset Management Inc. Lowers Stake in Halliburton (NYSE:HAL)

Advisors Asset Management Inc. decreased its position in Halliburton (NYSE:HAL) by 15.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,985 shares of the oilfield services company’s stock after selling 21,684 shares during the period. Advisors Asset Management Inc.’s holdings in Halliburton were worth $3,181,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in HAL. OneDigital Investment Advisors LLC boosted its holdings in shares of Halliburton by 8.9% in the third quarter. OneDigital Investment Advisors LLC now owns 8,795 shares of the oilfield services company’s stock valued at $255,000 after acquiring an additional 717 shares in the last quarter. Pathstone Holdings LLC boosted its holdings in shares of Halliburton by 6.7% in the third quarter. Pathstone Holdings LLC now owns 144,675 shares of the oilfield services company’s stock valued at $4,203,000 after acquiring an additional 9,118 shares in the last quarter. Banque Cantonale Vaudoise boosted its holdings in shares of Halliburton by 171.7% in the third quarter. Banque Cantonale Vaudoise now owns 30,852 shares of the oilfield services company’s stock valued at $896,000 after acquiring an additional 19,496 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Halliburton by 1.1% in the third quarter. PNC Financial Services Group Inc. now owns 742,334 shares of the oilfield services company’s stock valued at $21,565,000 after acquiring an additional 8,405 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in shares of Halliburton by 204.3% in the third quarter. Avior Wealth Management LLC now owns 2,498 shares of the oilfield services company’s stock valued at $73,000 after acquiring an additional 1,677 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Stock Performance

NYSE:HAL opened at $24.75 on Friday. The firm has a 50 day simple moving average of $26.32 and a 200-day simple moving average of $28.08. 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 firm has a market cap of $21.48 billion, a PE ratio of 8.74, a P/E/G ratio of 3.79 and a beta of 1.84. Halliburton has a 1-year low of $23.42 and a 1-year high of $41.56.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Wednesday, March 5th. Halliburton’s dividend payout ratio is presently 24.03%.

Insider Activity

In related news, VP Timothy Mckeon sold 10,497 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $24.60, for a total value of $258,226.20. Following the completion of the sale, the vice president now directly owns 77,784 shares in the company, valued at approximately $1,913,486.40. The trade was a 11.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Eric Carre sold 141,206 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $26.13, for a total transaction of $3,689,712.78. Following the completion of the sale, the chief financial officer now 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 disclosure for this sale can be found here. Insiders sold a total of 206,782 shares of company stock valued at $5,321,170 over the last 90 days. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HAL. Wells Fargo & Company reduced their price objective on shares of Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Evercore ISI reduced their price objective on shares of 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 note on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price objective for the company. Raymond James cut shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a research note on Monday, January 6th. Finally, Benchmark reduced their price objective on shares of Halliburton from $40.00 to $35.00 and set a “buy” rating for the company 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.42.

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.