KLP Kapitalforvaltning AS Invests $9.53 Million in Halliburton (NYSE:HAL)

KLP Kapitalforvaltning AS acquired a new stake in Halliburton (NYSE:HAL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 350,543 shares of the oilfield services company's stock, valued at approximately $9,531,000.

A number of other large investors have also bought and sold shares of the stock. MidWestOne Financial Group Inc. grew its holdings in shares of Halliburton by 4.4% during the 3rd quarter. MidWestOne Financial Group Inc. now owns 8,610 shares of the oilfield services company's stock worth $250,000 after acquiring an additional 359 shares during the period. Public Sector Pension Investment Board lifted its holdings in Halliburton by 0.3% in the third quarter. Public Sector Pension Investment Board now owns 154,210 shares of the oilfield services company's stock valued at $4,480,000 after acquiring an additional 390 shares during the period. Brown Brothers Harriman & Co. increased its holdings 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 buying an additional 393 shares during the last quarter. HBW Advisory Services LLC raised its stake in shares of Halliburton by 3.9% in the fourth quarter. HBW Advisory Services LLC now owns 10,504 shares of the oilfield services company's stock worth $286,000 after buying an additional 397 shares during the period. Finally, Blume Capital Management Inc. increased its stake in shares of Halliburton by 33.3% in the fourth quarter. Blume Capital Management Inc. now owns 1,600 shares of the oilfield services company's stock worth $44,000 after purchasing an additional 400 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

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Halliburton Stock Performance

Shares of NYSE:HAL traded up $0.05 on Tuesday, hitting $25.65. 9,031,924 shares of the company were exchanged, compared to its average volume of 8,843,943. The firm has a market capitalization of $22.27 billion, a P/E ratio of 9.06, a price-to-earnings-growth ratio of 3.79 and a beta of 1.84. 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 has a 1-year low of $23.42 and a 1-year high of $41.56. The stock's 50 day moving average price is $26.28 and its 200 day moving average price is $28.03.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Wednesday, March 5th. Halliburton's payout ratio is 24.03%.

Insider Activity at Halliburton

In related news, CFO Eric Carre sold 141,206 shares of the business's stock in a transaction 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 $3,321,149.13. The trade was a 52.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Timothy Mckeon sold 10,497 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $24.60, for a total value of $258,226.20. Following the completion of the sale, the vice president now owns 77,784 shares of the company's stock, valued at $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 a total of 206,782 shares of company stock worth $5,321,170 over the last quarter. Insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on HAL shares. Griffin Securities downgraded Halliburton from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. UBS Group cut shares of Halliburton from a "buy" rating to a "neutral" rating and cut their price objective for the company from $36.00 to $34.00 in a research report on Monday, December 9th. Piper Sandler began coverage on Halliburton in a research report on Thursday, December 19th. They issued an "overweight" rating and a $36.00 price objective on the stock. Benchmark decreased their target price on Halliburton from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, January 23rd. Finally, Stifel Nicolaus reduced their target price on shares of Halliburton from $42.00 to $37.00 and set a "buy" rating on the stock in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, Halliburton presently has an average rating of "Moderate Buy" and a consensus price target of $37.42.

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.