Mystic Asset Management Inc. Purchases New Holdings in Halliburton (NYSE:HAL)

Mystic Asset Management Inc. purchased a new stake in shares of Halliburton (NYSE:HAL) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,712 shares of the oilfield services company’s stock, valued at approximately $291,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mediolanum International Funds Ltd increased its position 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 valued at $1,931,000 after acquiring an additional 23,340 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased 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 valued at $61,375,000 after acquiring an additional 80,567 shares during the last quarter. Congress Asset Management Co. purchased a new stake in shares of Halliburton during the fourth quarter valued at approximately $621,000. Massachusetts Wealth Management increased its position 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 valued at $1,188,000 after acquiring an additional 28,125 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position 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 valued at $487,522,000 after acquiring an additional 3,150,986 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Halliburton

In other Halliburton news, Director Margaret Katherine Banks sold 3,900 shares of Halliburton stock in a transaction dated 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. The trade was a 26.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Eric Carre sold 141,206 shares of Halliburton stock in a transaction dated 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 of the company’s stock, valued at approximately $3,321,149.13. This trade represents a 52.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 206,782 shares of company stock valued at $5,321,170. Company insiders own 0.61% of the company’s stock.

Halliburton Price Performance

NYSE:HAL opened at $24.99 on Wednesday. The firm has a market capitalization of $21.69 billion, a price-to-earnings ratio of 8.83, a P/E/G ratio of 3.79 and a beta of 1.84. Halliburton has a 52-week low of $23.42 and a 52-week high of $41.56. The stock has a fifty day moving average of $26.45 and a 200 day moving average of $28.16. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 2.05.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Wednesday, March 5th. Halliburton’s dividend payout ratio is 24.03%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Evercore ISI decreased their target price on Halliburton from $43.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, January 15th. Jefferies Financial Group decreased their target price on Halliburton from $43.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Griffin Securities downgraded Halliburton from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Wells Fargo & Company decreased their target price on Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Finally, Barclays decreased their target price on Halliburton from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.