Independent Advisor Alliance Acquires 2,390 Shares of Halliburton (NYSE:HAL)

Independent Advisor Alliance increased its holdings in shares of Halliburton (NYSE:HAL) by 29.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,625 shares of the oilfield services company’s stock after acquiring an additional 2,390 shares during the period. Independent Advisor Alliance’s holdings in Halliburton were worth $289,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Geode Capital Management LLC boosted its stake in Halliburton by 0.8% during the third quarter. Geode Capital Management LLC now owns 20,630,361 shares of the oilfield services company’s stock worth $597,234,000 after acquiring an additional 172,505 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Halliburton by 10.4% during the fourth quarter. Pacer Advisors Inc. now owns 18,530,937 shares of the oilfield services company’s stock worth $503,856,000 after acquiring an additional 1,748,763 shares in the last quarter. Amundi boosted its stake in Halliburton by 22.2% during the fourth quarter. Amundi now owns 13,068,025 shares of the oilfield services company’s stock worth $353,242,000 after acquiring an additional 2,378,043 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Halliburton by 2.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,742,352 shares of the oilfield services company’s stock worth $166,815,000 after buying an additional 115,504 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Halliburton by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,435,299 shares of the oilfield services company’s stock worth $147,786,000 after buying an additional 187,150 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Halliburton Stock Down 0.9 %

Shares of HAL stock opened at $24.99 on Wednesday. Halliburton has a 12 month low of $23.42 and a 12 month high of $41.56. The stock has a market cap 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 company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. The company has a 50 day simple moving average of $26.45 and a two-hundred day simple moving average of $28.16.

Halliburton Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.72%. Halliburton’s dividend payout ratio (DPR) is presently 24.03%.

Insider Transactions at Halliburton

In other news, VP Timothy Mckeon sold 10,497 shares of the 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 completion of the sale, the vice president now directly owns 77,784 shares of the company’s stock, valued at $1,913,486.40. This represents a 11.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Margaret Katherine Banks sold 3,900 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $24.04, for a total transaction of $93,756.00. Following the completion of the sale, the director now directly owns 10,551 shares of the company’s stock, valued at approximately $253,646.04. This trade represents a 26.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,782 shares of company stock valued at $5,321,170 over the last three months. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HAL. Royal Bank of Canada reiterated a “sector perform” rating and issued a $34.00 target price on shares of Halliburton in a research note on Thursday, January 23rd. Piper Sandler began coverage on shares of Halliburton in a research note on Thursday, December 19th. They issued an “overweight” rating and a $36.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on shares of Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. UBS Group downgraded shares of Halliburton from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $36.00 to $34.00 in a research note on Monday, December 9th. Finally, Evercore ISI dropped their target price on shares of Halliburton from $43.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 15th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.42.

Halliburton 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.