Halliburton (NYSE:HAL) Shares Sold by Midland Wealth Advisors LLC

Midland Wealth Advisors LLC lowered its position in Halliburton (NYSE:HAL) by 10.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,478 shares of the oilfield services company’s stock after selling 1,633 shares during the period. Midland Wealth Advisors LLC’s holdings in Halliburton were worth $394,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Mediolanum International Funds Ltd increased its stake in shares of Halliburton by 48.2% during the fourth 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. increased its stake 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 purchasing 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 about $621,000. Massachusetts Wealth Management increased its stake in shares of Halliburton by 180.9% during the fourth quarter. Massachusetts Wealth Management now owns 43,675 shares of the oilfield services company’s stock worth $1,188,000 after purchasing an additional 28,125 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Halliburton by 23.1% during the third quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock worth $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.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Piper Sandler assumed coverage on shares of Halliburton in a research note on Thursday, December 19th. They set an “overweight” rating and a $36.00 target price for the company. UBS Group cut shares of Halliburton from a “buy” rating to a “neutral” rating and cut their target price for the stock from $36.00 to $34.00 in a research note on Monday, December 9th. Griffin Securities cut shares of Halliburton from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Raymond James cut shares of Halliburton from a “strong-buy” rating to a “market perform” rating in a research note on Monday, January 6th. Finally, Jefferies Financial Group dropped their price objective on shares of Halliburton from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.42.

Halliburton Stock Performance

Shares of HAL stock opened at $24.89 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 2.05. The firm has a market cap of $21.60 billion, a P/E ratio of 8.79, a P/E/G ratio of 3.79 and a beta of 1.84. The firm’s 50 day moving average price is $26.77 and its 200-day moving average price is $28.44. Halliburton has a one year low of $23.42 and a one year high of $41.56.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.68 annualized dividend and a dividend yield of 2.73%. Halliburton’s dividend payout ratio is currently 24.03%.

Insider Activity

In other news, Director Margaret Katherine Banks sold 3,900 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $24.04, for a total value of $93,756.00. Following the completion of the transaction, the director now owns 10,551 shares of the company’s stock, valued at approximately $253,646.04. This trade represents a 26.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Eric Carre sold 141,206 shares of the firm’s stock in a transaction that occurred 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 directly owns 127,101 shares of the company’s stock, valued at $3,321,149.13. This represents a 52.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,603 shares of company stock valued at $4,041,695. 0.61% of the stock is currently owned by corporate insiders.

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.