Gallacher Capital Management LLC Cuts Stock Holdings in Halliburton (NYSE:HAL)

Gallacher Capital Management LLC decreased its position in Halliburton (NYSE:HAL) by 16.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,137 shares of the oilfield services company’s stock after selling 3,898 shares during the quarter. Gallacher Capital Management LLC’s holdings in Halliburton were worth $520,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. increased its position in shares of Halliburton by 244.5% during the third quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company’s stock valued at $138,025,000 after acquiring an additional 3,203,224 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Halliburton by 23.1% during the 3rd quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock worth $487,522,000 after purchasing an additional 3,150,986 shares during the period. Amundi raised its stake in shares of Halliburton by 22.2% during the 4th quarter. Amundi now owns 13,068,025 shares of the oilfield services company’s stock worth $353,242,000 after purchasing an additional 2,378,043 shares during the period. Thompson Siegel & Walmsley LLC bought a new stake in shares of Halliburton during the 3rd quarter worth $55,132,000. Finally, OFI Invest Asset Management bought a new stake in Halliburton in the fourth quarter worth about $32,683,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Insider Transactions at Halliburton

In related news, VP Timothy Mckeon sold 10,497 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $24.60, for a total value of $258,226.20. Following the transaction, the vice president now owns 77,784 shares of the company’s stock, valued at $1,913,486.40. This represents a 11.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $3,689,712.78. Following the transaction, the chief financial officer now owns 127,101 shares in the company, valued at $3,321,149.13. This trade represents a 52.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 155,603 shares of company stock valued at $4,041,695 in the last quarter. Insiders own 0.61% of the company’s stock.

Halliburton Price Performance

Shares of NYSE HAL opened at $25.09 on Friday. The firm has a market capitalization of $21.78 billion, a P/E ratio of 8.87, 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. The stock’s 50-day simple moving average is $26.55 and its two-hundred day simple moving average is $28.27. Halliburton has a twelve month low of $23.42 and a twelve month high of $41.56.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Wednesday, March 5th. Halliburton’s dividend payout ratio (DPR) is 24.03%.

Analyst Upgrades and Downgrades

Several analysts have commented on HAL shares. JPMorgan Chase & Co. lowered their price objective on shares of Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Benchmark lowered their target price on Halliburton from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. UBS Group lowered Halliburton from a “buy” rating to a “neutral” rating and lowered their target price for the company from $36.00 to $34.00 in a research note on Monday, December 9th. Raymond James lowered Halliburton from a “strong-buy” rating to a “market perform” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company lowered their price objective on Halliburton from $39.00 to $34.00 and set an “overweight” rating on the stock in a research note 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.42.

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.