Corebridge Financial Inc. Sells 11,152 Shares of Halliburton (NYSE:HAL)

Corebridge Financial Inc. lowered its stake in shares of Halliburton (NYSE:HAL - Free Report) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,036 shares of the oilfield services company's stock after selling 11,152 shares during the quarter. Corebridge Financial Inc.'s holdings in Halliburton were worth $5,656,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its stake in Halliburton by 1.4% in the third quarter. Bank of Montreal Can now owns 902,208 shares of the oilfield services company's stock valued at $25,848,000 after buying an additional 12,810 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of Halliburton by 5.0% in the 3rd quarter. D.A. Davidson & CO. now owns 26,643 shares of the oilfield services company's stock valued at $774,000 after purchasing an additional 1,274 shares in the last quarter. Townsquare Capital LLC grew its holdings in shares of Halliburton by 10.1% during the 3rd quarter. Townsquare Capital LLC now owns 28,350 shares of the oilfield services company's stock valued at $824,000 after purchasing an additional 2,610 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Halliburton in the 3rd quarter valued at approximately $1,461,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Halliburton by 12.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 395,772 shares of the oilfield services company's stock valued at $11,497,000 after purchasing an additional 43,895 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at Halliburton

In other Halliburton news, Director Margaret Katherine Banks sold 3,900 shares of Halliburton stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $24.04, for a total transaction of $93,756.00. Following the transaction, the director now directly owns 10,551 shares of the company's stock, valued at $253,646.04. The trade was a 26.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Eric Carre sold 141,206 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $26.13, for a total transaction of $3,689,712.78. Following the completion of the sale, the chief financial officer now owns 127,101 shares of the company's stock, valued at approximately $3,321,149.13. This represents a 52.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 206,782 shares of company stock valued at $5,321,170. 0.61% of the stock is owned by corporate insiders.

Halliburton Stock Up 0.2 %

Shares of NYSE HAL traded up $0.04 during midday trading on Wednesday, hitting $25.59. 3,134,441 shares of the stock traded hands, compared to its average volume of 9,203,545. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 2.05. Halliburton has a one year low of $23.42 and a one year high of $41.56. The business has a 50 day moving average price of $25.82 and a two-hundred day moving average price of $27.91. The company has a market cap of $22.21 billion, a PE ratio of 9.04, a P/E/G ratio of 3.79 and a beta of 1.84.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.66%. Halliburton's dividend payout ratio is presently 24.03%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Benchmark cut their target price on shares of Halliburton from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, January 23rd. JPMorgan Chase & Co. cut their price target on shares of Halliburton from $35.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, January 2nd. Piper Sandler assumed coverage on Halliburton in a research note on Thursday, December 19th. They issued an "overweight" rating and a $36.00 price target for the company. Stifel Nicolaus lowered their price target on shares of Halliburton from $42.00 to $37.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. Finally, Raymond James lowered shares of Halliburton from a "strong-buy" rating to a "market perform" rating in a research note on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.37.

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.