Halliburton (NYSE:HAL) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in shares of Halliburton (NYSE:HAL) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,836 shares of the oilfield services company’s stock after acquiring an additional 2,597 shares during the period. QRG Capital Management Inc.’s holdings in Halliburton were worth $1,219,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of HAL. Proficio Capital Partners LLC purchased a new position in shares of Halliburton in the fourth quarter valued at $4,084,000. FUKOKU MUTUAL LIFE INSURANCE Co acquired a new stake in Halliburton in the 4th quarter valued at about $212,000. National Pension Service increased its holdings in Halliburton by 0.6% during the 4th quarter. National Pension Service now owns 1,301,209 shares of the oilfield services company’s stock valued at $35,380,000 after acquiring an additional 8,353 shares in the last quarter. Argonautica Private Wealth Management Inc. raised its position in Halliburton by 3.3% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 16,567 shares of the oilfield services company’s stock worth $450,000 after acquiring an additional 523 shares during the last quarter. Finally, Lake Street Advisors Group LLC lifted its holdings in shares of Halliburton by 13.8% in the fourth quarter. Lake Street Advisors Group LLC now owns 12,545 shares of the oilfield services company’s stock valued at $341,000 after purchasing an additional 1,520 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Stock Down 5.3 %

Shares of NYSE HAL opened at $24.98 on Tuesday. The stock has a market capitalization of $21.68 billion, a PE ratio of 8.83, a P/E/G ratio of 3.79 and a beta of 1.89. 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 firm has a fifty day moving average of $27.00 and a 200-day moving average of $28.68. Halliburton has a 52-week low of $24.75 and a 52-week high of $41.56.

Halliburton Announces Dividend

The company 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 dividend of $0.17 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.68 annualized dividend and a yield of 2.72%. Halliburton’s dividend payout ratio is presently 24.03%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HAL. Benchmark dropped their price objective on shares of Halliburton from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Griffin Securities downgraded Halliburton from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. UBS Group downgraded Halliburton from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $36.00 to $34.00 in a research report on Monday, December 9th. Piper Sandler assumed coverage on Halliburton in a research report on Thursday, December 19th. They set an “overweight” rating and a $36.00 price objective for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $34.00 target price on shares of Halliburton in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.42.

Insider Transactions at Halliburton

In other news, CFO Eric Carre sold 141,206 shares of the stock in a transaction on Tuesday, February 11th. The shares were 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. This represents a 52.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.