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NewEdge Advisors LLC increased its stake in shares of Halliburton Company (NYSE:HAL – Free Report) by 21.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 84,900 shares of the oilfield services company’s stock after buying an additional 15,070 shares during the period. NewEdge Advisors LLC’s holdings in Halliburton were worth $2,154,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its position in Halliburton by 450.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company’s stock worth $759,623,000 after buying an additional 24,506,472 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Halliburton by 15.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,093,680 shares of the oilfield services company’s stock worth $437,587,000 after buying an additional 2,171,722 shares in the last quarter. Invesco Ltd. lifted its position in Halliburton by 7.3% during the 1st quarter. Invesco Ltd. now owns 10,813,905 shares of the oilfield services company’s stock worth $274,349,000 after buying an additional 731,105 shares in the last quarter. LSV Asset Management lifted its position in Halliburton by 3.3% during the 1st quarter. LSV Asset Management now owns 6,113,044 shares of the oilfield services company’s stock valued at $155,088,000 after purchasing an additional 193,022 shares during the period. Finally, AQR Capital Management LLC lifted its position in Halliburton by 217.4% during the 1st quarter. AQR Capital Management LLC now owns 4,641,111 shares of the oilfield services company’s stock valued at $116,770,000 after purchasing an additional 3,178,746 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.
Halliburton Stock Performance
Shares of HAL stock opened at $22.34 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.00 and a quick ratio of 1.47. The stock has a market cap of $19.05 billion, a PE ratio of 10.44 and a beta of 1.10. The stock has a 50-day moving average of $21.84 and a 200-day moving average of $22.01. Halliburton Company has a one year low of $18.72 and a one year high of $32.57.
Halliburton (NYSE:HAL – Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. The company had revenue of $5.51 billion during the quarter, compared to analysts’ expectations of $5.43 billion. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.Halliburton’s revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 EPS. As a group, sell-side analysts expect that Halliburton Company will post 2.64 earnings per share for the current year.
Halliburton Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.0%. Halliburton’s dividend payout ratio is 31.78%.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on HAL shares. Stifel Nicolaus cut their target price on shares of Halliburton from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Melius started coverage on shares of Halliburton in a research report on Wednesday, August 20th. They set a “buy” rating and a $41.00 target price on the stock. Susquehanna cut their target price on shares of Halliburton from $30.00 to $27.00 and set a “positive” rating on the stock in a research report on Wednesday, July 23rd. Piper Sandler downgraded shares of Halliburton from an “overweight” rating to a “neutral” rating and set a $25.00 target price on the stock. in a research report on Monday, July 28th. Finally, Melius Research started coverage on shares of Halliburton in a research report on Wednesday, August 20th. They set a “buy” rating and a $41.00 target price on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and a consensus price target of $32.05.
Halliburton 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.
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