Independent Advisor Alliance Grows Stock Holdings in Halliburton (NYSE:HAL)

Independent Advisor Alliance boosted its holdings in Halliburton (NYSE:HAL) by 29.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,625 shares of the oilfield services company’s stock after buying an additional 2,390 shares during the period. Independent Advisor Alliance’s holdings in Halliburton were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of HAL. Sierra Ocean LLC bought a new position in Halliburton in the 4th quarter valued at $36,000. Modus Advisors LLC bought a new position in Halliburton in the 4th quarter valued at $38,000. Continuum Advisory LLC boosted its holdings in Halliburton by 101.2% in the 3rd 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 period. Brown Brothers Harriman & Co. boosted its holdings 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 purchasing an additional 393 shares during the period. Finally, Wingate Wealth Advisors Inc. bought a new position in Halliburton in the 4th quarter valued at $52,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Halliburton

In related news, Director Margaret Katherine Banks sold 3,900 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $24.04, for a total transaction of $93,756.00. Following the transaction, the director now owns 10,551 shares in the company, valued at $253,646.04. The trade was a 26.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Timothy Mckeon sold 10,497 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $24.60, for a total transaction of $258,226.20. Following the transaction, the vice president now owns 77,784 shares in the company, valued at $1,913,486.40. This represents a 11.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,782 shares of company stock worth $5,321,170. 0.61% of the stock is currently owned by company insiders.

Halliburton Price Performance

HAL stock opened at $24.99 on Wednesday. The firm’s 50-day moving average price is $26.45 and its two-hundred day moving average price is $28.16. Halliburton has a 12-month low of $23.42 and a 12-month high of $41.56. The stock has a market capitalization of $21.69 billion, a price-to-earnings ratio of 8.83, 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be given 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 of this dividend is Wednesday, March 5th. Halliburton’s payout ratio is 24.03%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HAL. UBS Group downgraded shares of Halliburton from a “buy” rating to a “neutral” rating and cut their price target for the company from $36.00 to $34.00 in a report on Monday, December 9th. Griffin Securities downgraded shares of Halliburton from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Evercore ISI dropped their price objective on shares of Halliburton from $43.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, January 15th. Barclays dropped their price objective 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 report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.42.

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.