Black Cypress Capital Management LLC Has $5.74 Million Stake in Halliburton (NYSE:HAL)

Black Cypress Capital Management LLC grew its position in shares of Halliburton (NYSE:HAL) by 18.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 211,078 shares of the oilfield services company’s stock after buying an additional 32,517 shares during the quarter. Halliburton makes up about 5.0% of Black Cypress Capital Management LLC’s investment portfolio, making the stock its 7th biggest position. Black Cypress Capital Management LLC’s holdings in Halliburton were worth $5,739,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Horrell Capital Management Inc. acquired a new position in shares of Halliburton during the fourth quarter worth approximately $33,000. Sierra Ocean LLC bought a new position in Halliburton in the 4th quarter valued at $36,000. Continuum Advisory LLC increased its stake in shares of 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 period. Modus Advisors LLC acquired a new position in shares of Halliburton during the fourth quarter valued at $38,000. Finally, Blume Capital Management Inc. boosted its holdings in Halliburton by 33.3% in the fourth quarter. Blume Capital Management Inc. now owns 1,600 shares of the oilfield services company’s stock valued at $44,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Insider Activity at Halliburton

In other Halliburton news, Director Margaret Katherine Banks sold 3,900 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $24.04, for a total transaction of $93,756.00. Following the completion of the sale, the director now owns 10,551 shares of the company’s stock, valued at $253,646.04. This trade represents a 26.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Eric Carre sold 141,206 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $26.13, for a total transaction of $3,689,712.78. Following the completion of the transaction, the chief financial officer now owns 127,101 shares in the company, valued at approximately $3,321,149.13. This represents a 52.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 corporate insiders.

Analysts Set New Price Targets

HAL has been the subject of several recent research reports. Raymond James cut Halliburton from a “strong-buy” rating to a “market perform” rating in a report on Monday, January 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $34.00 price objective on shares of Halliburton in a report on Thursday, January 23rd. Benchmark lowered their target price on shares of Halliburton from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Stifel Nicolaus reduced their price target on Halliburton from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Finally, Piper Sandler assumed coverage on Halliburton in a report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price objective for the company. Seven 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.37.

Halliburton Stock Up 3.8 %

HAL stock opened at $21.05 on Friday. The business has a 50-day moving average of $24.67 and a 200-day moving average of $27.36. Halliburton has a fifty-two week low of $18.72 and a fifty-two week high of $41.55. The stock has a market capitalization of $18.14 billion, a P/E ratio of 7.44, a P/E/G ratio of 3.79 and a beta of 1.45. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.54.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Wednesday, March 5th. Halliburton’s payout ratio is presently 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.