NewEdge Advisors LLC Buys 15,070 Shares of Halliburton Company $HAL

NewEdge Advisors LLC increased its stake in shares of Halliburton Company (NYSE:HAL) by 21.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,900 shares of the oilfield services company’s stock after acquiring an additional 15,070 shares during the quarter. NewEdge Advisors LLC’s holdings in Halliburton were worth $2,154,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of HAL. Charles Schwab Investment Management Inc. increased its position in Halliburton by 450.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company’s stock worth $759,623,000 after acquiring an additional 24,506,472 shares during the period. 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 acquiring an additional 3,178,746 shares during the period. Nuveen LLC bought a new position in Halliburton during the first quarter worth $72,637,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in Halliburton by 15.6% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,093,680 shares of the oilfield services company’s stock worth $437,587,000 after acquiring an additional 2,171,722 shares during the period. Finally, Victory Capital Management Inc. increased its position in Halliburton by 121.8% during the first quarter. Victory Capital Management Inc. now owns 3,306,224 shares of the oilfield services company’s stock worth $83,879,000 after acquiring an additional 1,815,357 shares during the period. Institutional investors own 85.23% of the company’s stock.

Halliburton Stock Down 1.2%

Shares of NYSE:HAL opened at $22.34 on Friday. 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 quick ratio of 1.47 and a current ratio of 2.00. The company’s fifty day moving average is $21.84 and its 200-day moving average is $22.01. The company has a market capitalization of $19.05 billion, a PE ratio of 10.44 and a beta of 1.10.

Halliburton (NYSE:HAL) last issued its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. 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 previous year, the company earned $0.80 EPS. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. Equities research analysts predict that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently announced 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. This represents a $0.68 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Wednesday, September 3rd. Halliburton’s payout ratio is currently 31.78%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on HAL shares. Barclays dropped their target price on shares of Halliburton from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 23rd. Piper Sandler lowered shares of Halliburton from an “overweight” rating to a “neutral” rating and set a $25.00 price target on the stock. in a report on Monday, July 28th. UBS Group boosted their price target on shares of Halliburton from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Melius Research began coverage on shares of Halliburton in a report on Wednesday, August 20th. They issued a “buy” rating and a $41.00 price target on the stock. Finally, Melius began coverage on shares of Halliburton in a report on Wednesday, August 20th. They issued a “buy” rating and a $41.00 price target on the stock. Fourteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.05.

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.