Assetmark Inc. Increases Stake in Halliburton (NYSE:HAL)

Assetmark Inc. has raised its investment in Halliburton (NYSE:HAL) by 15.2% during the fourth quarter, according to reports from HoldingsChannel. The institutional investor now holds 63,556 shares of the oilfield services company's stock, having acquired an additional 8,392 shares during this period. As per the latest SEC filing, Assetmark Inc.'s holdings in Halliburton are valued at $1,728,000.

Other institutional investors have also been adjusting their positions in Halliburton recently. MidWestOne Financial Group Inc. increased their holdings by 4.4% in the third quarter, now owning 8,610 shares worth $250,000 after an additional purchase of 359 shares. Similarly, the Public Sector Pension Investment Board raised their stake by 0.3%, holding 154,210 shares valued at $4,480,000 after buying 390 more shares. Brown Brothers Harriman & Co. reported a significant increase of 28.8% in their holdings during the same quarter, with 1,759 shares now worth $51,000 after purchasing 393 additional shares. Furthermore, HBW Advisory Services LLC also increased their stake by 3.9% in the fourth quarter, bringing their total to 10,504 shares valued at $286,000. Lastly, Venturi Wealth Management LLC significantly grew their holdings by 34.2%, owning 1,618 shares worth $47,000 after buying 412 additional shares. Overall, institutional investors and hedge funds hold about 85.23% of Halliburton's stock.

Insider Transactions at Halliburton

In recent news, there have been notable stock sales by Halliburton executives. On March 7th, Vice President Timothy Mckeon sold 10,497 shares for an average price of $24.60, totaling approximately $258,226.20. After this sale, he retains ownership of 77,784 shares, valued at around $1,913,486.40, showing an 11.89% decrease in his stake. This transaction was disclosed in a filing with the Securities and Exchange Commission. Additionally, Chief Financial Officer Eric Carre sold 141,206 shares on February 11th at an average price of $26.13, a transaction valued at about $3,689,712.78. He now owns 127,101 shares, worth approximately $3,321,149.13, reflecting a 52.63% reduction in his ownership. Over the past three months, insiders have sold a total of 155,603 shares, valued at $4,041,695. Currently, insiders hold only 0.61% of the company stock.

Analyst Forecasts for Halliburton

Analysts have been reviewing Halliburton's stock performance recently. Jefferies Financial Group lowered their price target from $43.00 to $41.00 while maintaining a “buy” rating. Morgan Stanley also adjusted their price target down to $34.00 with an “overweight” rating. Stifel Nicolaus reduced their target to $37.00 and kept a “buy” rating. Additionally, Evercore ISI cut their target from $43.00 to $35.00, marking an “outperform” rating, while JPMorgan Chase & Co. also lowered their target to $33.00 with an “overweight” rating. Currently, seven analysts rate Halliburton as a hold, while fourteen attribute a buy rating, leading to a consensus rating of "Moderate Buy" with an average price target of $37.42.

Current Halliburton Stock Performance

On Tuesday, Halliburton's stock opened at $24.89, reflecting a market capitalization of $21.60 billion. The company has a price-to-earnings (P/E) ratio of 8.79, a price-to-earnings-growth (PEG) ratio of 3.79, and a beta of 1.84. The stock's one-year low is noted at $23.42, while the one-year high reaches $41.56. Its fifty-day moving average price is $26.77, with a 200-day moving average of $28.44, showing the company's solid performance. Halliburton also carries a debt-to-equity ratio of 0.68 with a current ratio of 2.05 and a quick ratio of 1.54.

Dividend Announcement by Halliburton

Halliburton has declared a quarterly dividend that will be payable on March 26th. Shareholders who are on record as of March 5th will receive a dividend of $0.17 per share. The ex-dividend date is also marked on March 5th. This translates into an annualized dividend of $0.68, yielding 2.73%, with a payout ratio currently at 24.03%.

About Halliburton

Halliburton Company is involved in providing a range of products and services to the global energy industry. The company operates mainly through two segments: Completion and Production and Drilling and Evaluation. The Completion and Production segment focuses on providing services that enhance production, which include stimulation, sand control services, cementing, and various completion tools that are designed for downhole solutions.

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