KLP Kapitalforvaltning AS Purchases New Stake in Halliburton (NYSE:HAL)

KLP Kapitalforvaltning AS acquired a new position in shares of Halliburton (NYSE:HAL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 350,543 shares of the oilfield services company’s stock, valued at approximately $9,531,000.

A number of other large investors have also recently made changes to their positions in the business. Mediolanum International Funds Ltd raised its holdings in shares of Halliburton by 48.2% in the 4th quarter. Mediolanum International Funds Ltd now owns 71,797 shares of the oilfield services company’s stock worth $1,931,000 after acquiring an additional 23,340 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Halliburton by 3.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,257,250 shares of the oilfield services company’s stock worth $61,375,000 after purchasing an additional 80,567 shares during the last quarter. Congress Asset Management Co. bought a new position in shares of Halliburton in the fourth quarter valued at approximately $621,000. Massachusetts Wealth Management boosted its position in shares of Halliburton by 180.9% during the fourth quarter. Massachusetts Wealth Management now owns 43,675 shares of the oilfield services company’s stock valued at $1,188,000 after buying an additional 28,125 shares during the last quarter. Finally, Scott & Selber Inc. grew its holdings in Halliburton by 109.9% during the fourth quarter. Scott & Selber Inc. now owns 81,335 shares of the oilfield services company’s stock worth $2,211,000 after buying an additional 42,590 shares in the last quarter. 85.23% of the stock is owned by institutional investors.

Insider Transactions at Halliburton

In other news, VP Timothy Mckeon sold 10,497 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $24.60, for a total value of $258,226.20. Following the transaction, the vice president now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Eric Carre sold 141,206 shares of Halliburton 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 sale, the chief financial officer now directly owns 127,101 shares of the company’s stock, valued at $3,321,149.13. This represents a 52.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 206,782 shares of company stock valued at $5,321,170. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Evercore ISI dropped their price objective on Halliburton from $43.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 15th. Piper Sandler initiated coverage on shares of Halliburton in a research report on Thursday, December 19th. They set an “overweight” rating and a $36.00 price target on the stock. UBS Group downgraded shares of Halliburton from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $36.00 to $34.00 in a research report on Monday, December 9th. 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 research report on Thursday, January 23rd. Finally, Jefferies Financial Group cut their target price on Halliburton from $43.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.42.

Halliburton Price Performance

Shares of NYSE HAL opened at $25.59 on Tuesday. 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 fifty-two week low of $23.42 and a fifty-two week high of $41.56. The stock has a market cap of $22.21 billion, a PE ratio of 9.04, a price-to-earnings-growth ratio of 3.79 and a beta of 1.84. The stock has a fifty day moving average of $26.28 and a 200-day moving average of $28.03.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend 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.