Boston Partners Reduces Stake in Halliburton Shares

Boston Partners has decreased its investment in Halliburton (NYSE:HAL - Free Report) by 30.6% during the fourth quarter, as stated in their latest filing with the Securities and Exchange Commission. After selling 2,867,328 shares, the firm now holds 6,488,361 shares of the oilfield services company. As per the most recent SEC filing, Boston Partners owns 0.74% of Halliburton, which is valued at approximately $176,448,000.

Other institutional investors and hedge funds have also adjusted their holdings in Halliburton. Notably, Sierra Ocean LLC acquired a new position in Halliburton shares during the fourth quarter, valued at around $36,000. Modus Advisors LLC also purchased a new position, valued at about $38,000. Additionally, Continuum Advisory LLC raised its stake in Halliburton shares by 101.2% in the third quarter, bringing its total to 1,388 shares at a value of $42,000 after acquiring an extra 698 shares last quarter. Blume Capital Management Inc. increased its stake in Halliburton shares by 33.3% in the fourth quarter, now holding a total of 1,600 shares valued at $44,000 after obtaining an additional 400 shares. Furthermore, Brown Brothers Harriman & Co. raised its stake by 28.8% in the third quarter, now owning 1,759 shares valued at $51,000 after buying 393 more shares. Collectively, institutional investors and hedge funds own 85.23% of Halliburton's stock.

Insider Transactions at Halliburton

In other related news, Halliburton's CFO Eric Carre sold 141,206 shares of the company's stock on February 11th at an average price of $26.13, amounting to a total of $3,689,712.78. After this transaction, he owns 127,101 shares, which are valued at approximately $3,321,149.13, indicating a 52.63% decrease in his ownership. This transaction has been disclosed in a legal filing with the SEC. Similarly, VP Timothy Mckeon sold 10,497 shares on March 7th at an average price of $24.60, for a total of $258,226.20. Post-sale, he now holds 77,784 shares valued at $1,913,486.40, reflecting an 11.89% ownership decrease. In total, company insiders sold 206,782 shares worth $5,321,170 over the last three months, with insiders owning 0.61% of the company.

Analysts' Perspectives on Halliburton Stock

Recent analysis of Halliburton by several equity analysts has yielded various insights. Benchmark has reduced its price target for Halliburton from $40.00 to $35.00, assigning a "buy" rating in a research note dated January 23rd. Griffin Securities downgraded Halliburton from a "buy" rating to "neutral" on December 20th. On the other hand, Piper Sandler initiated coverage with an "overweight" rating and a price target of $36.00 on December 19th. Jefferies Financial Group also lowered its price objective from $43.00 to $41.00 while maintaining a "buy" rating as reported on January 3rd. Meanwhile, Royal Bank of Canada reiterated a "sector perform" rating with a price target of $34.00 on January 23rd. Overall, seven analysts have rated the stock with a hold rating, while fourteen have issued a buy rating. According to data from MarketBeat.com, Halliburton currently holds a consensus rating of "Moderate Buy" with an average target price of $37.42.

Current Status of Halliburton Stock

As of Wednesday, Halliburton shares opened at $24.99. The company boasts a market capitalization of $21.69 billion, a P/E ratio of 8.83, a P/E/G ratio of 3.79, and a beta of 1.84. The stock's 50-day simple moving average stands at $26.45, while its 200-day simple moving average is at $28.16. Halliburton's stock has experienced a one-year low of $23.42 and a high of $41.56. Additionally, the company has a debt-to-equity ratio of 0.68, with a current ratio of 2.05 and a quick ratio of 1.54.

Dividend Announcement from Halliburton

Halliburton recently announced a quarterly dividend, scheduled for distribution on March 26th. Shareholders on record as of March 5th will receive a dividend of $0.17. This dividend translates to an annual yield of 2.72%, with an annualized payout of $0.68. The ex-dividend date is set for March 5th, and Halliburton currently has a dividend payout ratio of 24.03%.

About Halliburton

Halliburton Company is a global provider of products and services to the energy sector, operating through two main segments: Completion and Production, and Drilling and Evaluation. The Completion and Production segment focuses on services that enhance production, including well stimulation, sand control, cementing services, and offers tools for downhole solutions.

Boston, Halliburton, Stocks