Titleist Asset Management LLC Reduces Stock Position in Halliburton (NYSE:HAL)

Titleist Asset Management LLC lessened its stake in shares of Halliburton (NYSE:HAL - Free Report) by 47.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,370 shares of the oilfield services company's stock after selling 60,417 shares during the period. Titleist Asset Management LLC's holdings in Halliburton were worth $1,832,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Captrust Financial Advisors increased its stake in Halliburton by 9.4% during the 3rd quarter. Captrust Financial Advisors now owns 43,434 shares of the oilfield services company's stock valued at $1,262,000 after purchasing an additional 3,721 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Halliburton by 45.0% during the third quarter. Benjamin Edwards Inc. now owns 10,677 shares of the oilfield services company's stock valued at $310,000 after acquiring an additional 3,315 shares in the last quarter. Hilltop Holdings Inc. raised its holdings in Halliburton by 70.5% in the 3rd quarter. Hilltop Holdings Inc. now owns 10,156 shares of the oilfield services company's stock worth $295,000 after acquiring an additional 4,201 shares during the last quarter. HighTower Advisors LLC lifted its position in Halliburton by 60.7% in the 3rd quarter. HighTower Advisors LLC now owns 671,942 shares of the oilfield services company's stock valued at $19,449,000 after acquiring an additional 253,867 shares in the last quarter. Finally, Integrated Wealth Concepts LLC boosted its stake in Halliburton by 52.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 84,191 shares of the oilfield services company's stock valued at $2,446,000 after purchasing an additional 29,146 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of brokerages have recently issued reports on HAL. Griffin Securities downgraded Halliburton from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. JPMorgan Chase & Co. lowered their target price on shares of Halliburton from $35.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, January 2nd. Raymond James cut shares of Halliburton from a "strong-buy" rating to a "market perform" rating in a report on Monday, January 6th. Royal Bank of Canada restated a "sector perform" rating and issued a $34.00 target price on shares of Halliburton in a report on Thursday, January 23rd. Finally, Evercore ISI decreased their target price on shares of Halliburton from $43.00 to $35.00 and set an "outperform" rating for the company in a research note on Wednesday, January 15th. Seven investment 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, the company presently has an average rating of "Moderate Buy" and an average target price of $37.37.

Insider Transactions at Halliburton

In other Halliburton 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 sale, the chief financial officer now owns 127,101 shares in the company, valued at $3,321,149.13. The trade was a 52.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Margaret Katherine Banks sold 3,900 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $24.04, for a total transaction of $93,756.00. Following the transaction, the director now directly owns 10,551 shares of the company's stock, valued at $253,646.04. This trade represents a 26.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,782 shares of company stock valued at $5,321,170. 0.61% of the stock is currently owned by corporate insiders.

Halliburton Price Performance

Shares of NYSE:HAL traded up $0.28 during trading on Wednesday, hitting $19.54. 4,138,047 shares of the company's stock were exchanged, compared to its average volume of 9,446,861. The business's 50-day simple moving average is $25.05 and its 200 day simple moving average is $27.58. 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 has a 52-week low of $18.42 and a 52-week high of $41.55. The company has a market cap of $16.84 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 business also recently disclosed 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. This represents a $0.68 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Wednesday, March 5th. Halliburton's 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.