OFI Invest Asset Management Takes $32.68 Million Position in Halliburton (NYSE:HAL)

OFI Invest Asset Management acquired a new stake in shares of Halliburton (NYSE:HAL) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,244,685 shares of the oilfield services company’s stock, valued at approximately $32,683,000. OFI Invest Asset Management owned 0.14% of Halliburton as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of HAL. Franklin Resources Inc. boosted its stake in shares of 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. lifted its holdings in Halliburton by 23.1% during the 3rd 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 in the last quarter. Amundi boosted its position 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 buying an additional 2,378,043 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in Halliburton in the 3rd quarter worth about $55,132,000. Finally, Van ECK Associates Corp increased its position in shares of Halliburton by 31.3% during the fourth quarter. Van ECK Associates Corp now owns 5,100,693 shares of the oilfield services company’s stock worth $138,688,000 after acquiring an additional 1,214,586 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

HAL has been the subject of a number of research reports. Evercore ISI lowered their price target on Halliburton from $43.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, January 15th. Piper Sandler assumed coverage on Halliburton in a report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price objective for the company. Benchmark dropped their target price on shares of Halliburton from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Barclays reduced their price target on shares of Halliburton from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, Raymond James downgraded shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a research note on Monday, January 6th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.42.

Insider Activity 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Eric Carre sold 141,206 shares of the firm’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 value of $3,689,712.78. Following the completion of the sale, the chief financial officer now directly owns 127,101 shares in the company, 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. 0.61% of the stock is owned by insiders.

Halliburton Stock Up 2.3 %

NYSE:HAL opened at $25.00 on Friday. Halliburton has a twelve month low of $23.42 and a twelve month high of $41.56. The company’s 50 day moving average is $26.81 and its two-hundred day moving average is $28.51. 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 company has a market cap of $21.70 billion, a PE ratio of 8.83, a P/E/G ratio of 3.79 and a beta of 1.84.

Halliburton Announces Dividend

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 issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Wednesday, March 5th. Halliburton’s dividend payout ratio is presently 24.03%.

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.