CoreFirst Bank & Trust Makes New $111,000 Investment in Halliburton (NYSE:HAL)

CoreFirst Bank & Trust bought a new stake in Halliburton (NYSE:HAL) during the fourth quarter, HoldingsChannel.com reports. The fund bought 4,070 shares of the oilfield services company’s stock, valued at approximately $111,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mediolanum International Funds Ltd lifted 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. boosted its holdings in Halliburton by 3.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,257,250 shares of the oilfield services company’s stock worth $61,375,000 after acquiring an additional 80,567 shares during the period. Congress Asset Management Co. acquired a new stake in Halliburton in the fourth quarter valued at approximately $621,000. Massachusetts Wealth Management raised 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 valued at $1,188,000 after purchasing an additional 28,125 shares during the period. Finally, Scott & Selber Inc. lifted its position in shares of Halliburton by 109.9% during the fourth quarter. Scott & Selber Inc. now owns 81,335 shares of the oilfield services company’s stock worth $2,211,000 after purchasing an additional 42,590 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on HAL shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 price target on shares of Halliburton in a report on Thursday, January 23rd. Wells Fargo & Company lowered their target price on Halliburton from $39.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Jefferies Financial Group cut their price target on Halliburton from $43.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Piper Sandler began coverage on Halliburton in a research note on Thursday, December 19th. They set an “overweight” rating and a $36.00 price objective for the company. Finally, UBS Group cut Halliburton from a “buy” rating to a “neutral” rating and reduced their target price for the company from $36.00 to $34.00 in a research note on Monday, December 9th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.42.

Halliburton Stock Performance

Shares of NYSE HAL opened at $25.65 on Wednesday. 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’s 50-day moving average price is $26.23 and its two-hundred day moving average price is $28.01. Halliburton has a 52-week low of $23.42 and a 52-week high of $41.56. The stock has a market capitalization of $22.27 billion, a P/E ratio of 9.06, a P/E/G ratio of 3.79 and a beta of 1.84.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Wednesday, March 5th. Halliburton’s dividend payout ratio (DPR) is 24.03%.

Insider Activity at Halliburton

In related news, CFO Eric Carre sold 51,179 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $25.00, for a total value of $1,279,475.00. Following the sale, the chief financial officer now owns 127,101 shares of the company’s stock, valued at $3,177,525. This trade represents a 28.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Timothy Mckeon sold 10,497 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $24.60, for a total transaction of $258,226.20. Following the transaction, the vice president now directly owns 77,784 shares of the company’s stock, valued at $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. Insiders sold 206,782 shares of company stock worth $5,321,170 in the last 90 days. 0.61% of the stock is currently owned by company insiders.

Halliburton Company 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.