Chatham Capital Group Inc. Reduces Stock Position in Halliburton (NYSE:HAL)

Chatham Capital Group Inc. cut its position in shares of Halliburton (NYSE:HAL) by 10.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,595 shares of the oilfield services company’s stock after selling 850 shares during the period. Chatham Capital Group Inc.’s holdings in Halliburton were worth $207,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Sierra Ocean LLC purchased a new position in shares of Halliburton during the 4th quarter worth about $36,000. Modus Advisors LLC bought a new stake in shares of Halliburton in the 4th quarter valued at about $38,000. Continuum Advisory LLC raised its holdings in shares of 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 in the last quarter. Venturi Wealth Management LLC raised its holdings 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 valued at $47,000 after purchasing an additional 412 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of 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 in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Stock Up 2.3 %

HAL stock opened at $25.00 on Friday. The firm’s fifty day simple moving average is $26.81 and its 200-day simple moving average is $28.52. The company has a market capitalization of $21.70 billion, a P/E ratio of 8.83, a price-to-earnings-growth ratio of 3.79 and a beta of 1.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.54. Halliburton has a 12 month low of $23.42 and a 12 month high of $41.56.

Halliburton Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Wednesday, March 5th. Halliburton’s dividend payout ratio (DPR) is currently 24.03%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HAL. Benchmark reduced their price target on shares of Halliburton from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Raymond James lowered shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a report on Monday, January 6th. Stifel Nicolaus reduced their price objective on shares of Halliburton from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Susquehanna reduced their price objective on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Friday, November 8th. Finally, Griffin Securities downgraded shares of Halliburton from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Halliburton currently has an average rating of “Moderate Buy” and a consensus target price of $37.42.

Insider Activity at Halliburton

In related news, CFO Eric Carre sold 141,206 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 127,101 shares in the company, valued at $3,321,149.13. The trade was a 52.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Margaret Katherine Banks sold 3,900 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $24.04, for a total transaction of $93,756.00. Following the completion of the transaction, the director now owns 10,551 shares of the company’s stock, valued at approximately $253,646.04. This represents a 26.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

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.