Brown Brothers Harriman & Co. Trims Stake in Halliburton (NYSE:HAL)

Brown Brothers Harriman & Co. lessened its holdings in shares of Halliburton (NYSE:HAL) by 27.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,269 shares of the oilfield services company’s stock after selling 490 shares during the period. Brown Brothers Harriman & Co.’s holdings in Halliburton were worth $35,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HAL. Horrell Capital Management Inc. bought a new position in Halliburton in the 4th quarter valued at $33,000. Sierra Ocean LLC purchased a new position in Halliburton in the 4th quarter worth about $36,000. Continuum Advisory LLC increased its stake in Halliburton by 101.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock worth $42,000 after buying an additional 698 shares during the period. Modus Advisors LLC bought a new stake in Halliburton during the 4th quarter valued at about $38,000. Finally, Blume Capital Management Inc. boosted its position in Halliburton by 33.3% in the 4th quarter. Blume Capital Management Inc. now owns 1,600 shares of the oilfield services company’s stock valued at $44,000 after buying an additional 400 shares during the period. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Halliburton Trading Up 0.7 %

NYSE:HAL opened at $25.73 on Thursday. The company has a market capitalization of $22.34 billion, a P/E ratio of 9.09, a PEG ratio of 3.79 and a beta of 1.84. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. Halliburton has a 12 month low of $23.42 and a 12 month high of $41.56. The firm has a fifty day simple moving average of $25.76 and a 200-day simple moving average of $27.90.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Wednesday, March 5th. Halliburton’s dividend payout ratio is presently 24.03%.

Insider Transactions at Halliburton

In other Halliburton news, Director Margaret Katherine Banks sold 3,900 shares of Halliburton 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 completion of the transaction, the director now owns 10,551 shares in the company, valued at approximately $253,646.04. This trade represents a 26.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Eric Carre sold 141,206 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 127,101 shares in the company, valued at $3,321,149.13. The trade was a 52.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,782 shares of company stock worth $5,321,170 over the last three months. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on HAL. Griffin Securities downgraded shares of Halliburton from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $34.00 target price on shares of Halliburton in a report on Thursday, January 23rd. Piper Sandler began coverage on Halliburton in a report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price objective for the company. Evercore ISI dropped their target price on shares of Halliburton from $43.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, January 15th. Finally, Stifel Nicolaus lowered their price target on shares of Halliburton from $42.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Halliburton has an average rating of “Moderate Buy” and an average target price of $37.37.

Halliburton 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.