Strategic Financial Concepts LLC bought a new position in shares of Halliburton (NYSE:HAL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,771 shares of the oilfield services company's stock, valued at approximately $728,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in HAL. Modus Advisors LLC purchased a new stake in Halliburton in the 4th quarter valued at $38,000. Continuum Advisory LLC raised its position in 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 buying an additional 698 shares during the last quarter. Venturi Wealth Management LLC raised its position in Halliburton by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company's stock valued at $47,000 after buying an additional 412 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in Halliburton by 28.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company's stock valued at $51,000 after buying an additional 393 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Halliburton in the 4th quarter valued at $52,000. 85.23% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have issued reports on HAL. UBS Group downgraded Halliburton from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $36.00 to $34.00 in a research note on Monday, December 9th. Royal Bank of Canada restated a "sector perform" rating and issued a $34.00 price objective on shares of Halliburton in a research note on Thursday, January 23rd. Morgan Stanley reduced their price objective on Halliburton from $35.00 to $34.00 and set an "overweight" rating for the company in a research note on Monday, November 18th. Barclays cut their price target on Halliburton from $32.00 to $30.00 and set an "equal weight" rating for the company in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus cut their price target on Halliburton from $42.00 to $37.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Halliburton has a consensus rating of "Moderate Buy" and a consensus target price of $37.42.
Check Out Our Latest Analysis on HAL
Insider Buying and Selling
In related news, CFO Eric Carre sold 141,206 shares of the firm'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 transaction of $3,689,712.78. Following the transaction, the chief financial officer now directly owns 127,101 shares in the company, valued at $3,321,149.13. This trade represents a 52.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by corporate insiders.
Halliburton Price Performance
Shares of NYSE HAL traded down $0.72 during trading hours on Friday, reaching $26.27. 5,765,518 shares of the stock traded hands, compared to its average volume of 10,593,835. The company has a market capitalization of $22.80 billion, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 3.76 and a beta of 1.89. 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 has a 52-week low of $25.16 and a 52-week high of $41.56. The company's 50-day simple moving average is $27.11 and its two-hundred day simple moving average is $28.96.
Halliburton Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be given 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 yield of 2.59%. Halliburton's payout ratio is 24.03%.
Halliburton Company Profile
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Free Report)
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.
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