Founders Capital Management lessened its stake in shares of Halliburton Company (NYSE:HAL) by 11.7% in the 4th quarter, Holdings Channel reports. The firm owned 22,312 shares of the oilfield services company’s stock after selling 2,950 shares during the quarter. Founders Capital Management’s holdings in Halliburton were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Investment Partners LLC purchased a new position in Halliburton in the fourth quarter worth $433,000. Steward Partners Investment Advisory LLC raised its position in Halliburton by 9.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 45,898 shares of the oilfield services company’s stock worth $2,243,000 after acquiring an additional 3,922 shares in the last quarter. Ingalls & Snyder LLC purchased a new position in Halliburton in the fourth quarter worth $578,000. Personal Capital Advisors Corp purchased a new position in Halliburton in the fourth quarter worth $236,000. Finally, State of Alaska Department of Revenue raised its position in Halliburton by 533.5% in the fourth quarter. State of Alaska Department of Revenue now owns 94,619 shares of the oilfield services company’s stock worth $4,622,000 after acquiring an additional 79,684 shares in the last quarter. Institutional investors and hedge funds own 79.89% of the company’s stock.
Shares of Halliburton Company (NYSE HAL) traded up $3.39 during mid-day trading on Monday, hitting $56.40. The stock had a trading volume of 17,330,000 shares, compared to its average volume of 8,310,000. Halliburton Company has a twelve month low of $38.18 and a twelve month high of $58.78. The stock has a market capitalization of $49,210.00, a PE ratio of 235.00, a P/E/G ratio of 2.94 and a beta of 1.03. The company has a current ratio of 2.20, a quick ratio of 1.67 and a debt-to-equity ratio of 1.13.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Thursday, December 7th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Wednesday, December 6th. Halliburton’s payout ratio is currently 300.00%.
Several research analysts have issued reports on HAL shares. Piper Jaffray Companies set a $52.00 price objective on Halliburton and gave the stock a “buy” rating in a research report on Thursday, December 14th. Wells Fargo & Co reiterated an “outperform” rating and issued a $56.00 price objective (up previously from $51.00) on shares of Halliburton in a research report on Thursday, December 21st. Zacks Investment Research upgraded Halliburton from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Tuesday, December 26th. FBR & Co cut their price objective on Halliburton from $61.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, October 24th. Finally, Deutsche Bank started coverage on Halliburton in a research report on Tuesday, October 10th. They issued a “buy” rating and a $54.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $56.53.
In related news, VP Anne L. Beaty sold 1,245 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $51.50, for a total transaction of $64,117.50. Following the sale, the vice president now owns 60,839 shares of the company’s stock, valued at $3,133,208.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman David J. Lesar sold 50,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $43.70, for a total value of $2,185,000.00. Following the sale, the chairman now directly owns 490,143 shares in the company, valued at approximately $21,419,249.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 141,612 shares of company stock worth $6,556,433. Corporate insiders own 0.47% of the company’s stock.
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Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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