M&T Bank Corp Lowers Stock Holdings in Halliburton (NYSE:HAL)

M&T Bank Corp lessened its position in shares of Halliburton (NYSE:HAL - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 111,690 shares of the oilfield services company's stock after selling 13,373 shares during the period. M&T Bank Corp's holdings in Halliburton were worth $3,037,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its position in Halliburton by 15.2% in the 4th quarter. Assetmark Inc. now owns 63,556 shares of the oilfield services company's stock valued at $1,728,000 after purchasing an additional 8,392 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Halliburton by 57.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,490,867 shares of the oilfield services company's stock worth $40,537,000 after acquiring an additional 543,676 shares during the period. Scott & Selber Inc. lifted its holdings in shares of Halliburton by 109.9% in the fourth quarter. Scott & Selber Inc. now owns 81,335 shares of the oilfield services company's stock valued at $2,211,000 after purchasing an additional 42,590 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Halliburton by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,435,299 shares of the oilfield services company's stock valued at $147,786,000 after buying an additional 187,150 shares in the last quarter. Finally, Resolute Wealth Strategies LLC grew its stake in Halliburton by 36.0% during the 4th quarter. Resolute Wealth Strategies LLC now owns 10,953 shares of the oilfield services company's stock valued at $298,000 after acquiring an additional 2,899 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of research analysts recently issued reports on HAL shares. Barclays lowered their target price on shares of Halliburton from $32.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. Benchmark dropped their price objective on Halliburton from $40.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. Griffin Securities lowered shares of Halliburton from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. Jefferies Financial Group cut their price target on Halliburton from $43.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday, January 3rd. Finally, Stifel Nicolaus dropped their price objective on Halliburton from $42.00 to $37.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $37.42.

Insider Activity

In other news, CFO Eric Carre sold 141,206 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $26.13, for a total value of $3,689,712.78. Following the completion of the sale, the chief financial officer now directly owns 127,101 shares in the company, valued at $3,321,149.13. This represents a 52.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 value of $93,756.00. Following the transaction, the director now owns 10,551 shares in the company, valued at $253,646.04. This trade represents a 26.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.61% of the company's stock.

Halliburton Price Performance

Shares of Halliburton stock traded down $0.09 on Monday, hitting $24.91. 6,032,984 shares of the company traded hands, compared to its average volume of 10,923,588. The firm's 50-day simple moving average is $26.81 and its 200 day simple moving average is $28.49. The company has a market cap of $21.62 billion, a P/E ratio of 8.82, a P/E/G ratio of 3.79 and a beta of 1.84. Halliburton has a 12-month low of $23.42 and a 12-month high of $41.56. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Wednesday, March 5th. Halliburton's dividend payout ratio is currently 24.03%.

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.