Corebridge Financial Inc. Cuts Position in Halliburton (NYSE:HAL)

Corebridge Financial Inc. trimmed its holdings in shares of Halliburton (NYSE:HAL) by 5.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 208,036 shares of the oilfield services company’s stock after selling 11,152 shares during the quarter. Corebridge Financial Inc.’s holdings in Halliburton were worth $5,656,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Horrell Capital Management Inc. purchased a new stake in shares of Halliburton during the 4th quarter valued at $33,000. Sierra Ocean LLC purchased a new stake in Halliburton during the fourth quarter worth about $36,000. Modus Advisors LLC purchased a new stake in Halliburton during the fourth quarter worth about $38,000. Continuum Advisory LLC raised its position in Halliburton by 101.2% in the third quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock worth $42,000 after acquiring an additional 698 shares during the period. Finally, Blume Capital Management Inc. boosted its stake in Halliburton by 33.3% in the fourth quarter. Blume Capital Management Inc. now owns 1,600 shares of the oilfield services company’s stock valued at $44,000 after acquiring an additional 400 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HAL has been the topic of a number of research reports. UBS Group cut shares of Halliburton from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $36.00 to $34.00 in a report on Monday, December 9th. Barclays lowered their target price on Halliburton from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Wells Fargo & Company cut their price target on Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Piper Sandler began coverage on Halliburton in a research note on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price objective on the stock. Finally, Evercore ISI cut their target price on shares of Halliburton from $43.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, January 15th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Halliburton currently has an average rating of “Moderate Buy” and an average target price of $37.42.

Halliburton Price Performance

Shares of NYSE HAL opened at $25.08 on Friday. The stock’s 50-day simple moving average is $25.99 and its two-hundred day simple moving average is $27.95. Halliburton has a twelve month low of $23.42 and a twelve month high of $41.56. The firm has a market capitalization of $21.77 billion, a P/E ratio of 8.86, a P/E/G ratio of 3.79 and a beta of 1.84. The company has a quick ratio of 1.54, a current ratio of 2.05 and a debt-to-equity ratio of 0.68.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Wednesday, March 5th. Halliburton’s dividend payout ratio is currently 24.03%.

Insider Buying and Selling at Halliburton

In other news, Director Margaret Katherine Banks sold 3,900 shares of the stock in a transaction dated Tuesday, March 4th. The stock was 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 in the company, valued at approximately $253,646.04. This represents a 26.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Eric Carre sold 141,206 shares of the business’s stock in a transaction that occurred 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 owns 127,101 shares of the company’s stock, valued at $3,321,149.13. The trade was a 52.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,782 shares of company stock worth $5,321,170 over the last three months. 0.61% of the stock is owned by insiders.

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.