Intech Investment Management LLC Makes New Investment in Halliburton (NYSE:HAL)

Intech Investment Management LLC purchased a new stake in Halliburton (NYSE:HAL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,854 shares of the oilfield services company’s stock, valued at approximately $458,000.

A number of other hedge funds have also modified their holdings of the business. Geode Capital Management LLC grew its holdings in Halliburton by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 20,630,361 shares of the oilfield services company’s stock valued at $597,234,000 after buying an additional 172,505 shares during the last quarter. Pacer Advisors Inc. increased its position in Halliburton by 10.4% during the 4th quarter. Pacer Advisors Inc. now owns 18,530,937 shares of the oilfield services company’s stock worth $503,856,000 after purchasing an additional 1,748,763 shares in the last quarter. Amundi raised its stake in Halliburton by 22.2% in the 4th quarter. Amundi now owns 13,068,025 shares of the oilfield services company’s stock valued at $353,242,000 after purchasing an additional 2,378,043 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Halliburton by 2.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,742,352 shares of the oilfield services company’s stock valued at $166,815,000 after purchasing an additional 115,504 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Halliburton by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,435,299 shares of the oilfield services company’s stock worth $147,786,000 after purchasing an additional 187,150 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Halliburton

In other news, Director Margaret Katherine Banks sold 3,900 shares of the firm’s 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 sale, the director now directly owns 10,551 shares in the company, valued at $253,646.04. This trade represents a 26.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eric Carre sold 141,206 shares of the business’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 transaction, the chief financial officer now owns 127,101 shares in the company, valued at approximately $3,321,149.13. This trade represents a 52.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,782 shares of company stock valued at $5,321,170 over the last 90 days. 0.61% of the stock is owned by corporate insiders.

Halliburton Trading Up 3.4 %

Shares of HAL opened at $25.59 on Tuesday. Halliburton has a 12 month low of $23.42 and a 12 month high of $41.56. The stock’s 50-day moving average is $26.28 and its two-hundred day moving average is $28.03. 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 stock has a market cap of $22.21 billion, a PE ratio of 9.04, a P/E/G ratio of 3.79 and a beta of 1.84.

Halliburton Dividend Announcement

The business also recently declared 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. This represents a $0.68 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Wednesday, March 5th. Halliburton’s dividend payout ratio is presently 24.03%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Raymond James lowered shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a research report on Monday, January 6th. Wells Fargo & Company reduced their price target on Halliburton from $39.00 to $34.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Piper Sandler began coverage on Halliburton in a research report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price objective for the company. UBS Group downgraded Halliburton from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $36.00 to $34.00 in a research report on Monday, December 9th. Finally, Jefferies Financial Group lowered their price target on Halliburton from $43.00 to $41.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company 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.