Halliburton (NYSE:HAL) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in Halliburton (NYSE:HAL) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 741,244 shares of the oilfield services company’s stock after selling 21,051 shares during the period. Allspring Global Investments Holdings LLC owned about 0.08% of Halliburton worth $26,796,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. MCF Advisors LLC raised its position in shares of Halliburton by 5.3% in the third quarter. MCF Advisors LLC now owns 4,643 shares of the oilfield services company’s stock valued at $188,000 after buying an additional 232 shares during the last quarter. Arcadia Investment Management Corp MI raised its position in shares of Halliburton by 0.7% in the third quarter. Arcadia Investment Management Corp MI now owns 37,010 shares of the oilfield services company’s stock valued at $1,499,000 after buying an additional 250 shares during the last quarter. Nvwm LLC raised its position in shares of Halliburton by 1.2% in the third quarter. Nvwm LLC now owns 22,759 shares of the oilfield services company’s stock valued at $922,000 after buying an additional 259 shares during the last quarter. Stratos Wealth Advisors LLC raised its position in shares of Halliburton by 3.6% in the third quarter. Stratos Wealth Advisors LLC now owns 7,605 shares of the oilfield services company’s stock valued at $308,000 after buying an additional 263 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its position in shares of Halliburton by 2.3% in the third quarter. Lake Street Advisors Group LLC now owns 11,972 shares of the oilfield services company’s stock valued at $485,000 after buying an additional 268 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Activity

In other news, Director Margaret Katherine Banks sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the completion of the transaction, the director now directly owns 9,625 shares in the company, valued at $339,762.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the transaction, the chief executive officer now directly owns 759,015 shares in the company, valued at approximately $26,793,229.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Margaret Katherine Banks sold 5,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total transaction of $176,500.00. Following the transaction, the director now owns 9,625 shares in the company, valued at $339,762.50. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Halliburton Price Performance

HAL opened at $39.67 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.06 and a debt-to-equity ratio of 0.81. Halliburton has a 52-week low of $27.84 and a 52-week high of $43.85. The company has a 50 day moving average of $37.09 and a two-hundred day moving average of $37.47. The company has a market cap of $35.16 billion, a P/E ratio of 13.54, a P/E/G ratio of 1.02 and a beta of 2.00.

Halliburton (NYSE:HAL) last announced its earnings results on Tuesday, January 23rd. The oilfield services company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.78 billion. Halliburton had a net margin of 11.46% and a return on equity of 31.59%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. On average, analysts expect that Halliburton will post 3.42 earnings per share for the current year.

Halliburton Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This is an increase from Halliburton’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.71%. Halliburton’s dividend payout ratio is 23.21%.

Wall Street Analysts Forecast Growth

HAL has been the subject of a number of analyst reports. StockNews.com lowered shares of Halliburton from a “buy” rating to a “hold” rating in a research report on Sunday. Barclays dropped their price target on shares of Halliburton from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. Atb Cap Markets lowered shares of Halliburton from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 22nd. Raymond James dropped their price target on shares of Halliburton from $49.00 to $47.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Finally, UBS Group upped their price target on shares of Halliburton from $44.00 to $48.00 in a research report on Monday, January 22nd. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.53.

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.