Pzena Investment Management LLC Raises Position in Halliburton (NYSE:HAL)

Pzena Investment Management LLC raised its stake in shares of Halliburton (NYSE:HAL) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,547,656 shares of the oilfield services company’s stock after purchasing an additional 5,650 shares during the period. Pzena Investment Management LLC owned 0.18% of Halliburton worth $42,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HAL. Franklin Resources Inc. raised its position in Halliburton by 244.5% during the third quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company’s stock valued at $138,025,000 after purchasing an additional 3,203,224 shares during the period. Pacer Advisors Inc. grew its stake in shares of Halliburton by 23.1% during the third quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock valued at $487,522,000 after buying an additional 3,150,986 shares during the last quarter. Amundi grew its stake 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 valued at $353,242,000 after buying an additional 2,378,043 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of Halliburton during the third quarter valued at approximately $55,132,000. Finally, OFI Invest Asset Management bought a new position in shares of Halliburton during the fourth quarter valued at approximately $32,683,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Halliburton

In other news, CFO Eric Carre sold 141,206 shares of the stock in a transaction on Tuesday, February 11th. The stock was 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 in the company, valued at approximately $3,321,149.13. This represents a 52.63 % decrease in their position. The sale 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 on Tuesday, March 4th. The shares were sold at an average price of $24.04, for a total value of $93,756.00. Following the sale, the director now owns 10,551 shares of the company’s stock, valued at approximately $253,646.04. This represents a 26.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,603 shares of company stock valued at $4,041,695. 0.61% of the stock is currently owned by corporate insiders.

Halliburton Stock Down 0.5 %

Shares of NYSE HAL opened at $24.89 on Tuesday. 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 $21.60 billion, a PE ratio of 8.79, a price-to-earnings-growth ratio of 3.79 and a beta of 1.84. The stock’s fifty day simple moving average is $26.77 and its two-hundred day simple moving average is $28.44. Halliburton has a 12-month low of $23.42 and a 12-month high of $41.56.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.68 annualized dividend and a yield of 2.73%. Halliburton’s dividend payout ratio (DPR) is presently 24.03%.

Analyst Upgrades and Downgrades

HAL has been the topic of a number of analyst reports. Morgan Stanley cut their target price on Halliburton from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Jefferies Financial Group cut their target price on Halliburton from $43.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 target price on shares of Halliburton in a research note on Thursday, January 23rd. JPMorgan Chase & Co. cut their target price on Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Finally, Piper Sandler initiated coverage on Halliburton in a research note on Thursday, December 19th. They set an “overweight” rating and a $36.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Halliburton currently has a consensus 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.