Mystic Asset Management Inc. Invests $291,000 in Halliburton (NYSE:HAL)

Mystic Asset Management Inc. 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 10,712 shares of the oilfield services company's stock, valued at approximately $291,000.

Several other institutional investors have also recently bought and sold shares of the business. Mediolanum International Funds Ltd increased its stake in shares of Halliburton by 48.2% in the fourth quarter. Mediolanum International Funds Ltd now owns 71,797 shares of the oilfield services company's stock valued at $1,931,000 after buying an additional 23,340 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Halliburton by 3.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,257,250 shares of the oilfield services company's stock valued at $61,375,000 after buying an additional 80,567 shares during the period. Congress Asset Management Co. acquired a new position in shares of Halliburton in the fourth quarter valued at approximately $621,000. Massachusetts Wealth Management increased its stake in shares of Halliburton by 180.9% in the fourth quarter. Massachusetts Wealth Management now owns 43,675 shares of the oilfield services company's stock valued at $1,188,000 after buying an additional 28,125 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of Halliburton by 23.1% in the third quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company's stock valued at $487,522,000 after buying an additional 3,150,986 shares during the period. Institutional investors and hedge funds own 85.23% of the company's stock.

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Insider Activity 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 completion of the sale, the vice president now directly owns 77,784 shares of the company's stock, valued at approximately $1,913,486.40. This represents a 11.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Eric Carre sold 141,206 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 127,101 shares of the company's stock, 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 three months, insiders sold 206,782 shares of company stock valued at $5,321,170. 0.61% of the stock is owned by insiders.

Wall Street Analyst Weigh In

HAL has been the subject of several recent research reports. Piper Sandler initiated coverage on Halliburton in a research note on Thursday, December 19th. They issued an "overweight" rating and a $36.00 price objective for the company. Griffin Securities cut Halliburton from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. Stifel Nicolaus reduced their target price on Halliburton from $42.00 to $37.00 and set a "buy" rating on the stock in a report on Thursday, January 23rd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $34.00 target price on shares of Halliburton in a report on Thursday, January 23rd. Finally, Evercore ISI reduced their target price on Halliburton from $43.00 to $35.00 and set an "outperform" rating on the stock in a report on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Halliburton currently has a consensus rating of "Moderate Buy" and an average target price of $37.42.

Halliburton Stock Down 1.0 %

Shares of HAL traded down $0.24 during trading hours on Friday, reaching $24.75. The stock had a trading volume of 56,966,351 shares, compared to its average volume of 8,789,522. Halliburton has a 12 month low of $23.42 and a 12 month high of $41.56. The firm has a 50-day simple moving average of $26.32 and a 200 day simple moving average of $28.08. 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 has a market capitalization of $21.48 billion, a price-to-earnings ratio of 8.74, a P/E/G ratio of 3.79 and a beta of 1.84.

Halliburton Dividend Announcement

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 $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Wednesday, March 5th. Halliburton's 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.