Janney Montgomery Scott LLC Boosts Stake in Halliburton Company $HAL

Janney Montgomery Scott LLC grew its stake in Halliburton Company (NYSE:HAL) by 7.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 191,372 shares of the oilfield services company’s stock after buying an additional 12,931 shares during the period. Janney Montgomery Scott LLC’s holdings in Halliburton were worth $3,900,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stone House Investment Management LLC purchased a new position in shares of Halliburton in the first quarter worth $30,000. Hexagon Capital Partners LLC increased its stake in shares of Halliburton by 87.4% in the first quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company’s stock worth $36,000 after acquiring an additional 656 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Halliburton in the first quarter worth $37,000. McIlrath & Eck LLC increased its stake in shares of Halliburton by 756.2% in the first quarter. McIlrath & Eck LLC now owns 2,132 shares of the oilfield services company’s stock worth $54,000 after acquiring an additional 1,883 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in shares of Halliburton in the first quarter worth $57,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Stock Performance

NYSE:HAL opened at $24.28 on Wednesday. The company’s 50-day moving average price is $22.48 and its 200-day moving average price is $21.82. The company has a current ratio of 2.00, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. The company has a market cap of $20.70 billion, a P/E ratio of 11.35 and a beta of 1.02. Halliburton Company has a twelve month low of $18.72 and a twelve month high of $32.57.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The firm had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period last year, the firm posted $0.80 earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, sell-side analysts forecast that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd were issued a $0.17 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.8%. Halliburton’s payout ratio is 31.78%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of Halliburton from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday. Zephirin Group increased their price objective on shares of Halliburton from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Susquehanna cut their price objective on shares of Halliburton from $30.00 to $27.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Royal Bank Of Canada cut their price objective on shares of Halliburton from $28.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company dropped their price target on shares of Halliburton from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 23rd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.30.

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.