PNC Financial Services Group Inc. Purchases 5,705 Shares of Halliburton (NYSE:HAL)

PNC Financial Services Group Inc. grew its position in Halliburton (NYSE:HAL) by 0.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 748,039 shares of the oilfield services company’s stock after buying an additional 5,705 shares during the period. PNC Financial Services Group Inc.’s holdings in Halliburton were worth $20,339,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sierra Ocean LLC bought a new stake in shares of Halliburton in the fourth quarter worth about $36,000. Modus Advisors LLC acquired a new position in shares of Halliburton in the 4th quarter valued at approximately $38,000. Continuum Advisory LLC grew its position in shares of Halliburton by 101.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock valued at $42,000 after purchasing an additional 698 shares during the period. Venturi Wealth Management LLC increased its stake in Halliburton by 34.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after purchasing an additional 412 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in Halliburton by 28.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock worth $51,000 after buying an additional 393 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HAL. Morgan Stanley reduced their price target on shares of Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Raymond James lowered shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a research note on Monday, January 6th. Evercore ISI dropped their price target on Halliburton from $43.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 15th. JPMorgan Chase & Co. cut their price target on Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Finally, Wells Fargo & Company decreased their price objective on Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.42.

Halliburton Price Performance

Shares of HAL opened at $24.89 on Tuesday. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $26.77 and its 200 day simple moving average is $28.44. Halliburton has a 1-year low of $23.42 and a 1-year high of $41.56. The company has a market cap of $21.60 billion, a price-to-earnings ratio of 8.79, a PEG ratio of 3.79 and a beta of 1.84.

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 dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.68 annualized dividend and a dividend yield of 2.73%. Halliburton’s dividend payout ratio is presently 24.03%.

Insider Activity

In other Halliburton news, VP Timothy Mckeon sold 10,497 shares of Halliburton stock in a transaction on Friday, March 7th. The shares were sold at an average price of $24.60, for a total transaction of $258,226.20. Following the completion of the transaction, the vice president now directly owns 77,784 shares of the company’s stock, valued at $1,913,486.40. The trade was a 11.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Eric Carre sold 141,206 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 155,603 shares of company stock valued at $4,041,695. 0.61% of the stock is owned by company insiders.

Halliburton Company Profile

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.