Founders Financial Alliance LLC Acquires New Position in Halliburton (NYSE:HAL)

Founders Financial Alliance LLC bought a new position in shares of Halliburton (NYSE:HAL) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 7,419 shares of the oilfield services company’s stock, valued at approximately $202,000.

A number of other large investors have also modified their holdings of the business. Sierra Ocean LLC acquired a new position in Halliburton during the fourth quarter worth $36,000. Continuum Advisory LLC grew its holdings in Halliburton by 101.2% in the third quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock valued at $42,000 after purchasing an additional 698 shares during the last quarter. Modus Advisors LLC purchased a new position in shares of Halliburton in the fourth quarter valued at $38,000. Venturi Wealth Management LLC boosted its position in shares of Halliburton by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after buying an additional 412 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in Halliburton by 28.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock valued at $51,000 after acquiring an additional 393 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HAL has been the topic of several recent research reports. UBS Group downgraded shares of Halliburton from a “buy” rating to a “neutral” rating and reduced their price target for the company from $36.00 to $34.00 in a report on Monday, December 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $34.00 target price on shares of Halliburton in a report on Thursday, January 23rd. Benchmark cut their price target on Halliburton from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Piper Sandler started coverage on shares of Halliburton in a report on Thursday, December 19th. They set an “overweight” rating and a $36.00 price target for the company. Finally, Raymond James lowered shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a research report on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and a consensus price target of $37.42.

Insider Transactions at Halliburton

In other Halliburton news, VP Timothy Mckeon sold 10,497 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $24.60, for a total transaction of $258,226.20. Following the sale, the vice president now directly owns 77,784 shares of the company’s stock, valued at approximately $1,913,486.40. This represents a 11.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Eric Carre sold 141,206 shares of Halliburton stock in a transaction dated 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 transaction, the chief financial officer now directly owns 127,101 shares of the company’s stock, valued at $3,321,149.13. This trade represents a 52.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders 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 1.0 %

Shares of NYSE HAL opened at $24.64 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 2.05. Halliburton has a 1 year low of $23.42 and a 1 year high of $41.56. The stock’s 50-day simple moving average is $26.72 and its 200-day simple moving average is $28.39. The firm has a market cap of $21.39 billion, a price-to-earnings ratio of 8.71, a PEG ratio of 3.79 and a beta of 1.84.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Wednesday, March 5th. Halliburton’s dividend payout ratio (DPR) is currently 24.03%.

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.