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

MGB Wealth Management LLC reduced its position in Halliburton (NYSE:HAL) by 21.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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).

Other hedge funds have also recently added to or reduced their stakes in the company. Modus Advisors LLC acquired a new position in Halliburton in the 4th quarter worth about $38,000. Continuum Advisory LLC lifted its holdings in Halliburton by 101.2% during the third quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock valued at $42,000 after purchasing an additional 698 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Halliburton in the third quarter valued at about $44,000. Venturi Wealth Management LLC boosted its holdings 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 worth $47,000 after buying an additional 412 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised 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 valued at $51,000 after acquiring an additional 393 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Piper Sandler began coverage on Halliburton in a research report on Thursday, December 19th. They set an “overweight” rating and a $36.00 price target for the company. Griffin Securities downgraded shares of Halliburton from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Susquehanna decreased their target price on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a research note on Friday, November 8th. Benchmark cut their price target on Halliburton from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Finally, Raymond James lowered shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a report on Monday, January 6th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.42.

Halliburton Price Performance

HAL opened at $25.98 on Thursday. The firm has a market cap of $22.82 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 3.53 and a beta of 1.89. Halliburton has a 12-month low of $25.16 and a 12-month high of $41.56. 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 stock’s 50-day moving average price is $27.52 and its 200 day moving average price is $29.24.

Halliburton Dividend Announcement

The firm also recently declared 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. This represents a $0.68 annualized dividend and a dividend yield of 2.62%. Halliburton’s dividend payout ratio (DPR) is 24.03%.

Insider Buying and Selling

In other Halliburton news, CFO Eric Carre sold 141,206 shares of the firm’s 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is currently owned by insiders.

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.