Arcadia Investment Management Corp MI Increases Stock Holdings in Halliburton (NYSE:HAL)

Arcadia Investment Management Corp MI increased its holdings in Halliburton (NYSE:HAL) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,890 shares of the oilfield services company’s stock after purchasing an additional 1,685 shares during the period. Arcadia Investment Management Corp MI’s holdings in Halliburton were worth $1,411,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mediolanum International Funds Ltd grew its position in shares of Halliburton by 48.2% in the fourth quarter. Mediolanum International Funds Ltd now owns 71,797 shares of the oilfield services company’s stock valued at $1,931,000 after purchasing an additional 23,340 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Halliburton by 3.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,257,250 shares of the oilfield services company’s stock valued at $61,375,000 after purchasing an additional 80,567 shares during the period. Cary Street Partners Asset Management LLC grew its position in shares of Halliburton by 56.5% in the third quarter. Cary Street Partners Asset Management LLC now owns 157,085 shares of the oilfield services company’s stock valued at $4,563,000 after purchasing an additional 56,707 shares during the period. Massachusetts Wealth Management grew its position in shares of Halliburton by 180.9% in 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, Pacer Advisors Inc. grew its position in shares of Halliburton by 23.1% in the third quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock valued at $487,522,000 after purchasing an additional 3,150,986 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Trading Up 1.0 %

Shares of HAL opened at $27.02 on Friday. The stock’s 50-day moving average is $27.11 and its two-hundred day moving average is $28.96. The stock has a market cap of $23.45 billion, a PE ratio of 9.55, a P/E/G ratio of 3.76 and a beta of 1.89. Halliburton has a 12 month low of $25.16 and a 12 month high of $41.56. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.54.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Wednesday, March 5th. Halliburton’s dividend payout ratio (DPR) is 24.03%.

Wall Street Analyst Weigh In

HAL has been the subject of a number of recent analyst reports. Benchmark lowered their price objective on Halliburton from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their price target on Halliburton from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd. Evercore ISI lowered their price target on Halliburton from $43.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, January 15th. Jefferies Financial Group lowered their price target on Halliburton from $43.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Finally, Barclays lowered their price target on Halliburton from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Halliburton currently has a consensus rating of “Moderate Buy” and an average target price of $37.42.

Insider Buying and Selling

In related news, CFO Eric Carre sold 141,206 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $26.13, for a total value of $3,689,712.78. Following the completion of the sale, the chief financial officer now directly owns 127,101 shares of the company’s stock, valued at $3,321,149.13. The trade was a 52.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.61% of the company’s stock.

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.