Halliburton (NYSE:HAL) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN decreased its position in shares of Halliburton (NYSE:HAL - Free Report) by 18.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,413,848 shares of the oilfield services company's stock after selling 559,451 shares during the period. Wells Fargo & Company MN owned 0.27% of Halliburton worth $65,633,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mediolanum International Funds Ltd increased its holdings in shares of Halliburton by 48.2% in the 4th quarter. Mediolanum International Funds Ltd now owns 71,797 shares of the oilfield services company's stock valued at $1,931,000 after acquiring an additional 23,340 shares during the period. Sei Investments Co. increased its stake in Halliburton by 18.2% in the fourth quarter. Sei Investments Co. now owns 278,934 shares of the oilfield services company's stock valued at $7,584,000 after purchasing an additional 42,876 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Halliburton by 3.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,257,250 shares of the oilfield services company's stock valued at $61,375,000 after buying an additional 80,567 shares during the last quarter. Congress Asset Management Co. acquired a new stake in shares of Halliburton during the fourth quarter worth about $621,000. Finally, Massachusetts Wealth Management grew its holdings in shares of Halliburton by 180.9% during the fourth quarter. Massachusetts Wealth Management now owns 43,675 shares of the oilfield services company's stock worth $1,188,000 after buying an additional 28,125 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company's stock.

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Analysts Set New Price Targets

Several research firms have commented on HAL. Piper Sandler started coverage on Halliburton in a research note on Thursday, December 19th. They set an "overweight" rating and a $36.00 price objective for the company. Barclays decreased their price target on Halliburton from $30.00 to $29.00 and set an "equal weight" rating for the company in a report on Monday, March 31st. Benchmark lowered their price objective 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. Royal Bank of Canada restated a "sector perform" rating and set a $34.00 price objective on shares of Halliburton in a research report on Thursday, January 23rd. Finally, Griffin Securities downgraded shares of Halliburton from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $37.37.

Halliburton Price Performance

Shares of NYSE:HAL traded up $0.78 during midday trading on Friday, hitting $21.05. 13,607,621 shares of the stock were exchanged, compared to its average volume of 9,611,165. The stock has a market cap of $18.14 billion, a P/E ratio of 7.44, a PEG ratio of 3.79 and a beta of 1.45. Halliburton has a twelve month low of $18.72 and a twelve month high of $41.55. The company has a 50 day moving average price of $24.67 and a 200-day moving average price of $27.36. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Wednesday, March 5th. Halliburton's dividend payout ratio (DPR) is presently 24.03%.

Insider Activity

In other Halliburton news, CFO Eric Carre sold 141,206 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $26.13, for a total value of $3,689,712.78. Following the transaction, the chief financial officer now directly owns 127,101 shares in the company, valued at approximately $3,321,149.13. This represents a 52.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Timothy Mckeon sold 10,497 shares of Halliburton stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $24.60, for a total transaction of $258,226.20. Following the sale, the vice president now owns 77,784 shares of the company's stock, valued at approximately $1,913,486.40. This trade represents a 11.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,782 shares of company stock worth $5,321,170 over the last ninety days. 0.61% of the stock is currently owned by insiders.

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.