Perbak Capital Partners LLP Invests $366,000 in Halliburton Company $HAL

Key Points

• Perbak Capital Partners LLP acquired 14,420 shares of Halliburton, valued at approximately $366,000, during the first quarter.
• Analysts have recently adjusted their target prices for Halliburton, with Wells Fargo lowering its target from $28 to $26, while Melius initiated coverage with a $41 target and a "buy" rating.
• Halliburton's quarterly dividend of $0.17 per share is set to be paid on September 24th, representing an annualized yield of 3.0%.

Perbak Capital Partners LLP acquired a new position in Halliburton Company (NYSE:HAL - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 14,420 shares of the oilfield services company's stock, valued at approximately $366,000.

Several other hedge funds also recently added to or reduced their stakes in HAL. EP Wealth Advisors LLC lifted its position in Halliburton by 58.5% in the first quarter. EP Wealth Advisors LLC now owns 18,515 shares of the oilfield services company's stock valued at $470,000 after buying an additional 6,835 shares during the last quarter. Focus Partners Advisor Solutions LLC acquired a new position in Halliburton in the first quarter valued at about $435,000. Energy Income Partners LLC lifted its position in Halliburton by 28.4% in the first quarter. Energy Income Partners LLC now owns 554,372 shares of the oilfield services company's stock valued at $14,064,000 after buying an additional 122,519 shares during the last quarter. Retirement Planning Co of New England Inc. acquired a new position in Halliburton in the first quarter valued at about $307,000. Finally, MAI Capital Management lifted its position in Halliburton by 30.5% in the first quarter. MAI Capital Management now owns 57,641 shares of the oilfield services company's stock valued at $1,462,000 after buying an additional 13,480 shares during the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on HAL shares. Piper Sandler lowered 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. Royal Bank Of Canada cut their target price on Halliburton from $28.00 to $24.00 and set a "sector perform" rating on the stock in a research report on Wednesday, July 23rd. Melius started coverage on Halliburton in a research report on Wednesday, August 20th. They issued a "buy" rating and a $41.00 target price on the stock. Susquehanna cut their target price on Halliburton from $30.00 to $27.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Finally, Morgan Stanley cut their target price on Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Fourteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $32.05.

Halliburton Stock Down 1.7%

Shares of NYSE:HAL traded down $0.38 during trading hours on Friday, reaching $22.09. The stock had a trading volume of 11,267,888 shares, compared to its average volume of 9,574,734. Halliburton Company has a 1 year low of $18.72 and a 1 year high of $32.57. The firm's 50 day moving average is $21.76 and its 200-day moving average is $22.13. 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 stock has a market capitalization of $18.84 billion, a price-to-earnings ratio of 10.32 and a beta of 1.10.

Halliburton (NYSE:HAL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The oilfield services company reported $0.55 EPS for the quarter, meeting analysts' consensus estimates 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 period in the prior year, the firm posted $0.80 EPS. The company's quarterly revenue was down 5.5% compared to the same quarter last year. Research analysts predict that Halliburton Company will post 2.64 earnings per share for the current fiscal 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 given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Wednesday, September 3rd. Halliburton's payout ratio is currently 31.78%.

Halliburton Company 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.