Strategic Financial Concepts LLC Invests $728,000 in Halliburton (NYSE:HAL)

Strategic Financial Concepts LLC acquired a new position in shares of Halliburton (NYSE:HAL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 26,771 shares of the oilfield services company’s stock, valued at approximately $728,000.

Other large investors also recently modified their holdings of the company. Mediolanum International Funds Ltd boosted its stake in shares of 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 buying an additional 23,340 shares during the last quarter. Cary Street Partners Asset Management LLC boosted its stake in shares of Halliburton by 56.5% during the 3rd quarter. Cary Street Partners Asset Management LLC now owns 157,085 shares of the oilfield services company’s stock worth $4,563,000 after buying an additional 56,707 shares during the last quarter. Massachusetts Wealth Management boosted its stake in shares of Halliburton by 180.9% during the 4th quarter. Massachusetts Wealth Management now owns 43,675 shares of the oilfield services company’s stock worth $1,188,000 after buying an additional 28,125 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Halliburton by 23.1% during the 3rd quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock worth $487,522,000 after buying an additional 3,150,986 shares during the last quarter. Finally, Quest Partners LLC boosted its stake in shares of Halliburton by 2,418.9% during the 3rd quarter. Quest Partners LLC now owns 78,387 shares of the oilfield services company’s stock worth $2,277,000 after buying an additional 75,275 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group dropped their target price on shares of Halliburton from $43.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $34.00 target price on shares of Halliburton in a report on Thursday, January 23rd. UBS Group cut shares of Halliburton from a “buy” rating to a “neutral” rating and dropped their target price for the company from $36.00 to $34.00 in a report on Monday, December 9th. Piper Sandler assumed coverage on shares of Halliburton in a report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 target price on the stock. Finally, Griffin Securities cut shares of Halliburton from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Halliburton presently has a consensus rating of “Moderate Buy” and an average target price of $37.42.

Halliburton Stock Up 2.0 %

Shares of HAL opened at $26.50 on Wednesday. Halliburton has a 12 month low of $25.16 and a 12 month high of $41.56. The firm’s 50 day moving average is $27.62 and its 200-day moving average is $29.30. The stock has a market capitalization of $23.28 billion, a PE ratio of 9.36, a P/E/G ratio of 3.53 and a beta of 1.89. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.68 annualized dividend and a dividend yield of 2.57%. Halliburton’s dividend payout ratio is presently 24.03%.

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.