Allspring Global Investments Holdings LLC Grows Stake in Halliburton Company $HAL

Allspring Global Investments Holdings LLC raised its stake in Halliburton Company (NYSE:HAL) by 11.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,620 shares of the oilfield services company’s stock after purchasing an additional 5,127 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Halliburton were worth $1,031,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Stone House Investment Management LLC acquired a new stake in shares of Halliburton during the first quarter valued at about $30,000. Hexagon Capital Partners LLC grew its stake in shares of Halliburton by 87.4% during the first quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company’s stock valued at $36,000 after acquiring an additional 656 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Halliburton during the first quarter valued at about $37,000. Bartlett & CO. Wealth Management LLC grew its stake in shares of Halliburton by 109.5% during the second quarter. Bartlett & CO. Wealth Management LLC now owns 1,900 shares of the oilfield services company’s stock valued at $39,000 after acquiring an additional 993 shares in the last quarter. Finally, McIlrath & Eck LLC grew its stake in shares of Halliburton by 756.2% during the first quarter. McIlrath & Eck LLC now owns 2,132 shares of the oilfield services company’s stock valued at $54,000 after acquiring an additional 1,883 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Royal Bank Of Canada upgraded Halliburton from a “sector perform” rating to an “outperform” rating in a research note on Wednesday. UBS Group raised their target price on Halliburton from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday. Wells Fargo & Company decreased their price target on Halliburton from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Susquehanna lifted their price target on Halliburton from $27.00 to $29.00 and gave the stock a “positive” rating in a research note on Wednesday. Finally, Barclays decreased their price target on Halliburton from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Sixteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Halliburton Stock Performance

HAL opened at $26.30 on Thursday. The business’s 50 day moving average is $22.86 and its 200-day moving average is $21.73. The stock has a market cap of $22.42 billion, a PE ratio of 17.41 and a beta of 1.02. The company has a current ratio of 2.00, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. Halliburton Company has a twelve month low of $18.72 and a twelve month high of $32.57.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, October 21st. The oilfield services company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. The company had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.39 billion. Halliburton had a return on equity of 20.00% and a net margin of 5.91%.The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 earnings per share. On average, analysts predict that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, September 3rd. Halliburton’s payout ratio is 31.78%.

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.