QRG Capital Management Inc. Boosts Holdings in Halliburton (NYSE:HAL)

QRG Capital Management Inc. increased its holdings in shares of Halliburton (NYSE:HAL) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,836 shares of the oilfield services company’s stock after buying an additional 2,597 shares during the period. QRG Capital Management Inc.’s holdings in Halliburton were worth $1,219,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in HAL. US Bancorp DE raised its position in Halliburton by 7.0% in the 3rd quarter. US Bancorp DE now owns 148,722 shares of the oilfield services company’s stock valued at $4,320,000 after purchasing an additional 9,721 shares in the last quarter. Stephens Inc. AR raised its holdings in Halliburton by 11.5% in the third quarter. Stephens Inc. AR now owns 105,240 shares of the oilfield services company’s stock valued at $3,057,000 after acquiring an additional 10,831 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Halliburton by 4.3% in the third quarter. Janney Montgomery Scott LLC now owns 152,741 shares of the oilfield services company’s stock valued at $4,437,000 after acquiring an additional 6,258 shares in the last quarter. BSW Wealth Partners lifted its stake in Halliburton by 4.9% in the third quarter. BSW Wealth Partners now owns 10,565 shares of the oilfield services company’s stock worth $307,000 after acquiring an additional 497 shares during the last quarter. Finally, National Pension Service grew its holdings in Halliburton by 1.9% during the 3rd quarter. National Pension Service now owns 1,292,856 shares of the oilfield services company’s stock worth $37,557,000 after acquiring an additional 24,350 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HAL has been the topic of a number of analyst reports. Piper Sandler began coverage on shares of Halliburton in a report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price objective on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $34.00 price target on shares of Halliburton in a research note on Thursday, January 23rd. Evercore ISI lowered their price objective on Halliburton from $43.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, January 15th. Griffin Securities downgraded Halliburton from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. decreased their target price on Halliburton from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.42.

Insiders Place Their Bets

In other Halliburton news, CFO Eric Carre sold 141,206 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 127,101 shares in the company, valued at approximately $3,321,149.13. This represents a 52.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is owned by insiders.

Halliburton Trading Down 5.3 %

NYSE HAL opened at $24.98 on Tuesday. Halliburton has a one year low of $24.75 and a one year high of $41.56. The firm has a market cap of $21.68 billion, a PE ratio of 8.83, a P/E/G ratio of 3.79 and a beta of 1.89. The firm’s fifty day moving average is $27.00 and its two-hundred day moving average is $28.68. 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders 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 presently 24.03%.

About Halliburton

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.