Halliburton (NYSE:HAL) Shares Sold by abrdn plc

abrdn plc reduced its stake in shares of Halliburton (NYSE:HAL - Free Report) by 11.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 256,071 shares of the oilfield services company's stock after selling 34,137 shares during the period. abrdn plc's holdings in Halliburton were worth $6,982,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HAL. Modus Advisors LLC acquired a new stake in shares of Halliburton during the fourth quarter worth $38,000. Continuum Advisory LLC lifted its stake in shares of Halliburton by 101.2% during the third quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company's stock worth $42,000 after buying an additional 698 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Halliburton during the third quarter worth $44,000. Venturi Wealth Management LLC lifted its position in Halliburton by 34.2% during the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company's stock valued at $47,000 after purchasing an additional 412 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its position in Halliburton by 28.8% during the third quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company's stock valued at $51,000 after purchasing an additional 393 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Price Performance

HAL traded down $0.51 on Wednesday, reaching $25.98. 7,305,752 shares of the company's stock were exchanged, compared to its average volume of 11,067,494. The stock has a market cap of $22.82 billion, a PE ratio of 9.18, a P/E/G ratio of 3.53 and a beta of 1.89. Halliburton has a twelve month low of $25.16 and a twelve month high of $41.56. The stock's fifty day moving average price is $27.52 and its 200-day moving average price is $29.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.54.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.62%. Halliburton's payout ratio is presently 24.03%.

Analyst Upgrades and Downgrades

HAL has been the subject of a number of research reports. UBS Group downgraded shares of Halliburton from a "buy" rating to a "neutral" rating and decreased their target price for the company from $36.00 to $34.00 in a research report on Monday, December 9th. Piper Sandler started coverage on shares of Halliburton in a report on Thursday, December 19th. They issued an "overweight" rating and a $36.00 price objective for the company. Jefferies Financial Group cut their price objective on shares of Halliburton from $43.00 to $41.00 and set a "buy" rating for the company in a report on Friday, January 3rd. Susquehanna cut their price objective on shares of Halliburton from $42.00 to $40.00 and set a "positive" rating for the company in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Halliburton from $35.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, January 2nd. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.42.

Insider Buying and Selling

In related news, CFO Eric Carre sold 141,206 shares of the business's 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 transaction, the chief financial officer now directly owns 127,101 shares in the company, valued at approximately $3,321,149.13. The trade was a 52.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.

About Halliburton

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.