Massachusetts Wealth Management Sells 2,625 Shares of Halliburton (NYSE:HAL)

Massachusetts Wealth Management cut its holdings in Halliburton (NYSE:HAL) by 14.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,550 shares of the oilfield services company’s stock after selling 2,625 shares during the period. Massachusetts Wealth Management’s holdings in Halliburton were worth $452,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Country Trust Bank bought a new stake in shares of Halliburton in the third quarter valued at approximately $36,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Halliburton by 274.9% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock worth $38,000 after acquiring an additional 822 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Halliburton during the 3rd quarter worth approximately $44,000. Crewe Advisors LLC bought a new position in Halliburton in the first quarter valued at approximately $46,000. Finally, Beacon Capital Management LLC raised its position in Halliburton by 28.8% during the first quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock valued at $54,000 after purchasing an additional 309 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HAL shares. Johnson Rice upgraded Halliburton to a “moderate buy” rating in a research note on Friday, July 19th. Dbs Bank initiated coverage on Halliburton in a research note on Wednesday, September 18th. They set a “buy” rating and a $45.00 target price for the company. Citigroup dropped their target price on shares of Halliburton from $50.00 to $45.00 and set a “buy” rating for the company in a report on Friday, June 28th. JPMorgan Chase & Co. decreased their price target on shares of Halliburton from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Bank of America dropped their price objective on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Halliburton has an average rating of “Moderate Buy” and an average price target of $41.74.

Halliburton Stock Up 1.5 %

Shares of HAL traded up $0.43 during trading hours on Friday, hitting $28.28. The stock had a trading volume of 2,184,894 shares, compared to its average volume of 7,898,858. The firm has a 50 day simple moving average of $29.82 and a 200-day simple moving average of $33.43. The firm has a market capitalization of $25.04 billion, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 1.04 and a beta of 1.88. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.13 and a quick ratio of 1.54. Halliburton has a 1-year low of $27.51 and a 1-year high of $41.56.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Wednesday, September 4th. Halliburton’s dividend payout ratio (DPR) is 23.53%.

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.