Great Lakes Retirement Inc. Boosts Stake in Halliburton (NYSE:HAL)

Great Lakes Retirement Inc. lifted its holdings in Halliburton (NYSE:HAL) by 18.4% in the 4th quarter, Holdings Channel reports. The firm owned 23,907 shares of the oilfield services company’s stock after acquiring an additional 3,723 shares during the period. Great Lakes Retirement Inc.’s holdings in Halliburton were worth $650,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of HAL. Franklin Resources Inc. raised its stake in shares of Halliburton by 244.5% in the third quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company’s stock worth $138,025,000 after purchasing an additional 3,203,224 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Halliburton by 23.1% in the third quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock worth $487,522,000 after purchasing an additional 3,150,986 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in shares of Halliburton in the third quarter worth $55,132,000. Thrivent Financial for Lutherans raised its stake in shares of Halliburton by 22.0% in the third quarter. Thrivent Financial for Lutherans now owns 5,520,383 shares of the oilfield services company’s stock worth $160,367,000 after purchasing an additional 995,649 shares during the last quarter. Finally, Banco Santander S.A. purchased a new position in shares of Halliburton in the third quarter worth $13,085,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Piper Sandler assumed coverage on Halliburton in a research note on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price target for the company. UBS Group lowered Halliburton from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $36.00 to $34.00 in a report on Monday, December 9th. Morgan Stanley cut their price objective on Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Benchmark cut their price objective on Halliburton from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Finally, Evercore ISI cut their price objective on Halliburton from $43.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, January 15th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Halliburton currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.42.

Halliburton Stock Performance

NYSE:HAL opened at $25.98 on Thursday. The stock has a 50-day simple moving average of $27.52 and a two-hundred day simple moving average of $29.24. Halliburton has a 52-week low of $25.16 and a 52-week high of $41.56. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 2.05. The firm has a market capitalization of $22.82 billion, a PE ratio of 9.18, a P/E/G ratio of 3.53 and a beta of 1.89.

Halliburton Announces Dividend

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 paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.62%. Halliburton’s dividend payout ratio (DPR) is 24.03%.

Insider Transactions at Halliburton

In other news, CFO Eric Carre sold 141,206 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was 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 owns 127,101 shares of the company’s stock, valued at $3,321,149.13. This represents a 52.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.61% of the company’s stock.

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.