Congress Asset Management Co. Makes New $621,000 Investment in Halliburton (NYSE:HAL)

Congress Asset Management Co. purchased a new stake in shares of Halliburton (NYSE:HAL) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 22,827 shares of the oilfield services company’s stock, valued at approximately $621,000.

A number of other hedge funds have also recently modified their holdings of HAL. Continuum Advisory LLC boosted its holdings in Halliburton by 101.2% in 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 last quarter. Modus Advisors LLC purchased a new stake in shares of Halliburton during the 4th quarter valued at approximately $38,000. Venturi Wealth Management LLC lifted its holdings in Halliburton by 34.2% in the third quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock valued at $47,000 after acquiring an additional 412 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in Halliburton by 28.8% in the third quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock worth $51,000 after acquiring an additional 393 shares during the period. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Halliburton during the fourth quarter worth $52,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Insiders Place Their Bets

In other Halliburton news, CFO Eric Carre sold 141,206 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $26.13, for a total transaction of $3,689,712.78. Following the sale, the chief financial officer now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HAL shares. Raymond James lowered Halliburton from a “strong-buy” rating to a “market perform” rating in a research note on Monday, January 6th. Piper Sandler began coverage on shares of Halliburton in a research note on Thursday, December 19th. They set an “overweight” rating and a $36.00 target price for the company. Griffin Securities downgraded shares of Halliburton from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Morgan Stanley lowered their price objective on shares of Halliburton from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Finally, Evercore ISI cut their target price on Halliburton from $43.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and an average target price of $37.42.

Halliburton Trading Up 2.2 %

Shares of NYSE:HAL opened at $26.75 on Wednesday. The company has a market cap of $23.50 billion, a PE ratio of 9.45, a P/E/G ratio of 3.53 and a beta of 1.89. The company’s 50 day moving average is $27.24 and its two-hundred day moving average is $29.02. Halliburton has a 52 week low of $25.16 and a 52 week high of $41.56. 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 declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Wednesday, March 5th. Halliburton’s dividend payout ratio is presently 24.03%.

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.