Proficio Capital Partners LLC Makes New Investment in Halliburton (NYSE:HAL)

Proficio Capital Partners LLC purchased a new stake in Halliburton (NYSE:HAL - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 150,198 shares of the oilfield services company's stock, valued at approximately $4,084,000.

Other hedge funds have also modified their holdings of the company. Franklin Resources Inc. raised its holdings in Halliburton by 244.5% during the 3rd quarter. Franklin Resources Inc. now owns 4,513,560 shares of the oilfield services company's stock worth $138,025,000 after buying an additional 3,203,224 shares during the period. Pacer Advisors Inc. raised its holdings in 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 buying an additional 3,150,986 shares during the period. Thompson Siegel & Walmsley LLC acquired a new stake in Halliburton during the 3rd quarter worth approximately $55,132,000. Van ECK Associates Corp raised its holdings in Halliburton by 31.3% during the 4th quarter. Van ECK Associates Corp now owns 5,100,693 shares of the oilfield services company's stock worth $138,688,000 after buying an additional 1,214,586 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Halliburton by 57.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,490,867 shares of the oilfield services company's stock worth $40,537,000 after buying an additional 543,676 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on HAL shares. Jefferies Financial Group dropped their target price on shares of Halliburton from $43.00 to $41.00 and set a "buy" rating on the stock in a report on Friday, January 3rd. Stifel Nicolaus decreased their price target on shares of Halliburton from $42.00 to $37.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price target on shares of Halliburton from $35.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, January 2nd. Wells Fargo & Company decreased their price target on shares of Halliburton from $39.00 to $34.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. Finally, Piper Sandler started coverage on shares of Halliburton in a research note on Thursday, December 19th. They set an "overweight" rating and a $36.00 price target for the company. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.42.

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Insider Transactions at Halliburton

In related news, VP Timothy Mckeon sold 10,497 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $24.60, for a total value of $258,226.20. Following the completion of the transaction, the vice president now 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 Securities & Exchange Commission, which is available through this link. Also, CFO Eric Carre sold 51,179 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $25.00, for a total value of $1,279,475.00. Following the completion of the transaction, the chief financial officer now directly owns 127,101 shares of the company's stock, valued at approximately $3,177,525. This trade represents a 28.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,782 shares of company stock valued at $5,321,170. 0.61% of the stock is currently owned by corporate insiders.

Halliburton Stock Performance

HAL stock traded down $0.24 during midday trading on Friday, reaching $24.75. 56,934,240 shares of the company were exchanged, compared to its average volume of 8,790,443. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.54. The business has a 50-day moving average price of $26.37 and a two-hundred day moving average price of $28.12. Halliburton has a one year low of $23.42 and a one year high of $41.56. The firm has a market capitalization of $21.48 billion, a price-to-earnings ratio of 8.74, a price-to-earnings-growth ratio of 3.79 and a beta of 1.84.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Wednesday, March 5th. Halliburton's dividend 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.