Boston Partners Reduces Stake in Halliburton

Boston Partners has reduced its investment in Halliburton (NYSE:HAL - Free Report) by 30.6% during the fourth quarter, as reported in its latest filing with the Securities and Exchange Commission. After selling 2,867,328 shares during this period, the firm now holds 6,488,361 shares of the oilfield services company. This adjustment brings Boston Partners’ ownership in Halliburton to 0.74%, valued at approximately $176,448,000, according to the most recent SEC filing.

Changes in Institutional Holdings

In addition to Boston Partners, several other institutional investors and hedge funds have adjusted their positions in Halliburton. Sierra Ocean LLC took a new position in Halliburton shares in the fourth quarter, valued at about $36,000. Similarly, Modus Advisors LLC also added a new stake in Halliburton during the same period, valued at approximately $38,000. Continuum Advisory LLC increased its holdings in Halliburton by 101.2% in the third quarter, amassing 1,388 shares worth $42,000 after acquiring an additional 698 shares. Moreover, Blume Capital Management Inc. raised its stake in Halliburton by 33.3% in the fourth quarter, owning 1,600 shares valued at $44,000 following an additional purchase of 400 shares. Lastly, Brown Brothers Harriman & Co. expanded its stake in Halliburton by 28.8% in the third quarter, with a current ownership of 1,759 shares valued at $51,000. Institutional investors and hedge funds now collectively own 85.23% of Halliburton's stock.

Recent Insider Transactions

In related insider news, Halliburton's CFO, Eric Carre, sold 141,206 shares on February 11, fetching an average price of $26.13 per share for a total of $3,689,712.78. Post-transaction, he holds 127,101 shares valued at approximately $3,321,149, marking a 52.63% decrease in his ownership. This transaction was reported in a legal filing with the SEC. Additionally, VP Timothy Mckeon sold 10,497 shares on March 7, at an average price of $24.60, totaling $258,226.20. Following this sale, he retains 77,784 shares valued at around $1,913,486. Over recent months, insiders have sold a total of 206,782 shares worth $5,321,170, with insider ownership standing at 0.61% of the company's stock.

Analyst Perspectives on Halliburton Stock

Several market analysts have recently evaluated Halliburton's stock. Notably, Benchmark has decreased its price target from $40.00 to $35.00 while maintaining a "buy" rating in a report from January 23. Griffin Securities downgraded Halliburton from a "buy" to a "neutral" rating in a December 20 report. Piper Sandler initiated coverage of Halliburton on December 19, assigning an "overweight" rating with a price target of $36.00. Meanwhile, Jefferies Financial Group reduced its price objective from $43.00 to $41.00 while keeping a "buy" rating, as noted on January 3. Royal Bank of Canada reiterated a "sector perform" rating with a target price of $34.00 in another January 23 report. Overall, seven analysts have assigned a hold rating, while fourteen have given it a buy rating. Current consensus rating stands at "Moderate Buy" with an average target price of $37.42, according to data from MarketBeat.com.

Current Trading Status of Halliburton

As of Wednesday, Halliburton shares opened at $24.99, reflecting a market capitalization of $21.69 billion. The company has a price-to-earnings (P/E) ratio of 8.83. Additionally, its price-to-earnings growth (P/E/G) ratio is 3.79, and it has a beta of 1.84. Currently, Halliburton's 50-day simple moving average is $26.45, and its 200-day simple moving average is $28.16. The stock has fluctuated between a one-year low of $23.42 and a one-year high of $41.56. The firm has a debt-to-equity ratio of 0.68 and maintains a current ratio of 2.05 with a quick ratio of 1.54.

Dividend Announcement by Halliburton

Halliburton recently disclosed a quarterly dividend set to be paid on March 26. Shareholders on record as of March 5 will receive a dividend of $0.17 per share, reflecting an annualized dividend of $0.68 and a yield of 2.72%. The ex-dividend date for this distribution is also March 5, and the company's current dividend payout ratio is 24.03%.

About Halliburton

Halliburton Company offers a range of products and services to the global energy sector. It operates through two main segments: Completion and Production, and Drilling and Evaluation. The Completion and Production segment includes production enhancement services, cementing services for well bonding and casing, as well as various completion tools providing downhole solutions.

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