Proficio Capital Partners LLC Makes New $4.08 Million Investment in Halliburton (NYSE:HAL)

Proficio Capital Partners LLC purchased a new stake in Halliburton (NYSE:HAL) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 150,198 shares of the oilfield services company’s stock, valued at approximately $4,084,000.

Several other institutional investors have also modified their holdings of HAL. Mediolanum International Funds Ltd grew its stake in Halliburton by 48.2% during the 4th quarter. Mediolanum International Funds Ltd now owns 71,797 shares of the oilfield services company’s stock worth $1,931,000 after purchasing an additional 23,340 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Halliburton by 3.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,257,250 shares of the oilfield services company’s stock worth $61,375,000 after buying an additional 80,567 shares in the last quarter. Congress Asset Management Co. purchased a new stake in shares of Halliburton during the fourth quarter worth approximately $621,000. Massachusetts Wealth Management raised its holdings in 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 acquiring an additional 28,125 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Halliburton by 23.1% in the 3rd quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock valued at $487,522,000 after purchasing an additional 3,150,986 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Stock Up 0.6 %

HAL opened at $25.23 on Tuesday. The company has a market cap of $21.90 billion, a PE ratio of 8.91, a P/E/G ratio of 3.79 and a beta of 1.84. The company has a quick ratio of 1.54, a current ratio of 2.05 and a debt-to-equity ratio of 0.68. The business has a 50 day moving average price of $26.50 and a two-hundred day moving average price of $28.21. Halliburton has a 52 week low of $23.42 and a 52 week high of $41.56.

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.68 annualized dividend and a yield of 2.70%. Halliburton’s dividend payout ratio is currently 24.03%.

Insiders Place Their Bets

In related news, VP Timothy Mckeon sold 10,497 shares of Halliburton stock in a transaction that occurred 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 sale, the vice president now directly owns 77,784 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Eric Carre sold 141,206 shares of the 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 transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,782 shares of company stock worth $5,321,170. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

HAL has been the topic of several recent analyst reports. Piper Sandler started coverage on Halliburton in a report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 target price on the stock. Barclays cut their target price on Halliburton from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their price target on Halliburton from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Raymond James lowered shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company lowered their target price on shares of Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Halliburton has an average rating of “Moderate Buy” and a consensus price target of $37.42.

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.