Halliburton (NYSE:HAL) Shares Sold by MGB Wealth Management LLC

MGB Wealth Management LLC trimmed its holdings in Halliburton (NYSE:HAL) by 21.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 15,924 shares of the oilfield services company’s stock after selling 4,227 shares during the period. MGB Wealth Management LLC’s holdings in Halliburton were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in HAL. MidWestOne Financial Group Inc. raised its stake in Halliburton by 4.4% during the 3rd quarter. MidWestOne Financial Group Inc. now owns 8,610 shares of the oilfield services company’s stock valued at $250,000 after acquiring an additional 359 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Halliburton by 0.3% during the third quarter. Public Sector Pension Investment Board now owns 154,210 shares of the oilfield services company’s stock worth $4,480,000 after purchasing an additional 390 shares during the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of Halliburton by 28.8% during the third quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock worth $51,000 after purchasing an additional 393 shares during the period. HBW Advisory Services LLC grew its position in Halliburton by 3.9% in the 4th quarter. HBW Advisory Services LLC now owns 10,504 shares of the oilfield services company’s stock valued at $286,000 after buying an additional 397 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake 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 period. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Trading Down 1.9 %

Halliburton stock opened at $25.98 on Thursday. The stock has a 50-day moving average price of $27.52 and a 200 day moving average price of $29.24. Halliburton has a 52 week low of $25.16 and a 52 week high of $41.56. The stock has a market cap of $22.82 billion, a PE ratio of 9.18, a P/E/G ratio of 3.53 and a beta of 1.89. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders 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 dividend yield of 2.62%. Halliburton’s dividend payout ratio is presently 24.03%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. 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 on the stock. JPMorgan Chase & Co. dropped their target price on Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Susquehanna cut their target price on Halliburton from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group decreased their price target on Halliburton from $43.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Finally, Stifel Nicolaus cut their price objective on Halliburton from $42.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Seven 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, Halliburton has an average rating of “Moderate Buy” and a consensus price target of $37.42.

Insider Activity at Halliburton

In other news, CFO Eric Carre sold 141,206 shares of Halliburton stock in a transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

Halliburton 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.