Mystic Asset Management Inc. Takes $291,000 Position in Halliburton (NYSE:HAL)

Mystic Asset Management Inc. bought a new stake in Halliburton (NYSE:HAL) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 10,712 shares of the oilfield services company’s stock, valued at approximately $291,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of HAL. Sierra Ocean LLC purchased a new position in Halliburton during the 4th quarter valued at about $36,000. Continuum Advisory LLC increased its holdings in Halliburton by 101.2% during the 3rd 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 during the period. Modus Advisors LLC purchased a new position in Halliburton during the 4th quarter valued at about $38,000. Blume Capital Management Inc. increased its holdings in Halliburton by 33.3% during the 4th quarter. Blume Capital Management Inc. now owns 1,600 shares of the oilfield services company’s stock valued at $44,000 after purchasing an additional 400 shares during the period. Finally, Brown Brothers Harriman & Co. increased its holdings in Halliburton by 28.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock valued at $51,000 after purchasing an additional 393 shares during the period. Institutional investors own 85.23% of the company’s stock.

Insider Buying and Selling at Halliburton

In other news, Director Margaret Katherine Banks sold 3,900 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $24.04, for a total transaction of $93,756.00. Following the sale, the director now directly owns 10,551 shares of the company’s stock, valued at $253,646.04. This represents a 26.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Timothy Mckeon sold 10,497 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $24.60, for a total transaction of $258,226.20. Following the sale, the vice president now directly owns 77,784 shares in the company, valued at approximately $1,913,486.40. The trade was a 11.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,782 shares of company stock valued at $5,321,170. 0.61% of the stock is owned by insiders.

Halliburton Price Performance

NYSE HAL opened at $24.99 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.54. The stock’s fifty day moving average price is $26.45 and its 200 day moving average price is $28.16. Halliburton has a 1 year low of $23.42 and a 1 year high of $41.56. The company has a market cap of $21.69 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 3.79 and a beta of 1.84.

Halliburton Announces Dividend

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 issued a $0.17 dividend. 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 payout ratio is 24.03%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HAL. Jefferies Financial Group reduced their price target on Halliburton from $43.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Raymond James downgraded Halliburton from a “strong-buy” rating to a “market perform” rating in a report on Monday, January 6th. Barclays reduced their target price on Halliburton from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Piper Sandler started coverage on Halliburton in a report on Thursday, December 19th. They set an “overweight” rating and a $36.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their target price on Halliburton from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, 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.