Wedmont Private Capital Raises Position in Halliburton Company $HAL

Wedmont Private Capital grew its stake in Halliburton Company (NYSE:HAL) by 12.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 13,888 shares of the oilfield services company’s stock after buying an additional 1,584 shares during the quarter. Wedmont Private Capital’s holdings in Halliburton were worth $306,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HAL. Charles Schwab Investment Management Inc. raised its holdings in shares of Halliburton by 450.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company’s stock valued at $759,623,000 after buying an additional 24,506,472 shares during the last quarter. AQR Capital Management LLC increased its position in Halliburton by 217.4% during the first quarter. AQR Capital Management LLC now owns 4,641,111 shares of the oilfield services company’s stock worth $116,770,000 after buying an additional 3,178,746 shares in the last quarter. Nuveen LLC purchased a new stake in Halliburton in the 1st quarter worth approximately $72,637,000. Victory Capital Management Inc. grew its holdings in Halliburton by 121.8% in the 1st quarter. Victory Capital Management Inc. now owns 3,306,224 shares of the oilfield services company’s stock valued at $83,879,000 after buying an additional 1,815,357 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Halliburton in the first quarter valued at approximately $35,607,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HAL has been the subject of a number of research reports. UBS Group boosted their target price on Halliburton from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Piper Sandler downgraded shares of Halliburton from an “overweight” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a research note on Monday, July 28th. Melius assumed coverage on Halliburton in a research note on Wednesday, August 20th. They set a “buy” rating and a $41.00 price objective on the stock. Barclays cut their price target on Halliburton from $26.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company cut their price target on Halliburton from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. Thirteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Halliburton presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.37.

Halliburton Stock Up 0.8%

HAL stock opened at $22.54 on Monday. The firm has a market capitalization of $19.22 billion, a P/E ratio of 10.53 and a beta of 1.10. Halliburton Company has a 52-week low of $18.72 and a 52-week high of $32.57. 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 company’s 50 day simple moving average is $21.87 and its 200-day simple moving average is $21.83.

Halliburton (NYSE:HAL) last issued its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.The company had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, equities research analysts anticipate that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.17 per share. 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 currently 31.78%.

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.