Bank of New York Mellon Corp Sells 292,630 Shares of Halliburton (NYSE:HAL)

Bank of New York Mellon Corp lowered its stake in shares of Halliburton (NYSE:HAL) by 4.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,884,658 shares of the oilfield services company’s stock after selling 292,630 shares during the period. Bank of New York Mellon Corp’s holdings in Halliburton were worth $187,194,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Sierra Ocean LLC bought a new position in shares of Halliburton during the 4th quarter valued at approximately $36,000. Modus Advisors LLC purchased a new position in Halliburton in the fourth quarter valued at approximately $38,000. Continuum Advisory LLC grew its holdings in Halliburton by 101.2% during the third 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. Venturi Wealth Management LLC increased its position in Halliburton by 34.2% in the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after buying an additional 412 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Halliburton by 28.8% in the third quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock valued at $51,000 after buying an additional 393 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Piper Sandler initiated coverage on Halliburton in a research note on Thursday, December 19th. They set an “overweight” rating and a $36.00 price target for the company. JPMorgan Chase & Co. reduced their target price on shares of Halliburton from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Raymond James lowered shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a research report on Monday, January 6th. Susquehanna cut their price objective on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating for the company in a report on Friday, November 8th. Finally, Griffin Securities cut shares of Halliburton from a “buy” rating to a “neutral” rating in a 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 company. According to MarketBeat, Halliburton presently has an average rating of “Moderate Buy” and an average target price of $37.42.

Halliburton Stock Up 0.5 %

HAL stock opened at $26.05 on Friday. The company’s 50 day moving average is $27.02 and its 200 day moving average is $28.79. The stock has a market cap of $22.61 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 3.79 and a beta of 1.89. 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 has a 1-year low of $25.16 and a 1-year high of $41.56.

Halliburton Dividend Announcement

The business also recently disclosed 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 2.61%. The ex-dividend date of this dividend is Wednesday, March 5th. Halliburton’s dividend payout ratio (DPR) is currently 24.03%.

Insider Transactions at Halliburton

In other news, CFO Eric Carre sold 141,206 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $26.13, for a total transaction of $3,689,712.78. Following the transaction, the chief financial officer now directly owns 127,101 shares in the company, valued at approximately $3,321,149.13. This represents a 52.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is currently owned by insiders.

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.