Ilmarinen Mutual Pension Insurance Co Grows Position in Halliburton (NYSE:HAL)

Ilmarinen Mutual Pension Insurance Co raised its position in shares of Halliburton (NYSE:HAL - Free Report) by 416.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 158,744 shares of the oilfield services company's stock after purchasing an additional 128,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Halliburton were worth $4,316,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Halliburton by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 21,538,632 shares of the oilfield services company's stock valued at $584,139,000 after purchasing an additional 908,271 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Halliburton by 10.4% in the fourth quarter. Pacer Advisors Inc. now owns 18,530,937 shares of the oilfield services company's stock valued at $503,856,000 after buying an additional 1,748,763 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Halliburton by 15.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,093,680 shares of the oilfield services company's stock worth $437,587,000 after buying an additional 2,171,722 shares in the last quarter. Amundi grew its position in shares of Halliburton by 22.2% during the 4th quarter. Amundi now owns 13,068,025 shares of the oilfield services company's stock worth $353,242,000 after buying an additional 2,378,043 shares during the period. Finally, Norges Bank bought a new stake in shares of Halliburton in the 4th quarter valued at $299,986,000. Institutional investors own 85.23% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

HAL has been the subject of a number of research reports. Royal Bank of Canada restated a "sector perform" rating and issued a $34.00 price target on shares of Halliburton in a report on Thursday, January 23rd. Griffin Securities downgraded Halliburton from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. Stifel Nicolaus reduced their price objective on Halliburton from $42.00 to $37.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. Piper Sandler assumed coverage on Halliburton in a research report on Thursday, December 19th. They set an "overweight" rating and a $36.00 target price on the stock. 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 investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $37.37.

Insider Buying and Selling

In other news, CFO Eric Carre sold 141,206 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 127,101 shares in the company, valued at approximately $3,321,149.13. This trade represents a 52.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Margaret Katherine Banks sold 3,900 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $24.04, for a total transaction of $93,756.00. Following the sale, the director now directly owns 10,551 shares in the company, valued at $253,646.04. This trade represents a 26.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 206,782 shares of company stock valued at $5,321,170. 0.61% of the stock is owned by insiders.

Halliburton Stock Performance

Shares of NYSE:HAL traded up $0.23 during mid-day trading on Wednesday, reaching $19.49. The company had a trading volume of 4,138,047 shares, compared to its average volume of 9,446,754. Halliburton has a one year low of $18.42 and a one year high of $41.55. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. The company's 50-day moving average price is $25.05 and its 200-day moving average price is $27.58. The firm has a market cap of $16.80 billion, a price-to-earnings ratio of 6.87, a PEG ratio of 3.79 and a beta of 1.45.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.17 per share. 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 3.49%. Halliburton's dividend payout ratio is presently 24.03%.

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.