14,553 Shares in Halliburton Company $HAL Purchased by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC purchased 14,553 shares of Halliburton Company, valued at approximately $369,000, indicating growing institutional interest in the company.
• Analysts maintain a positive outlook on Halliburton, with fourteen rating it as a Buy and setting a varied price target, the highest being $41.00.
• Halliburton recently reported quarterly earnings of $0.55 per share, meeting analysts’ expectations, but revenue was down 5.5% year-over-year.

Belpointe Asset Management LLC purchased a new position in shares of Halliburton Company (NYSE:HAL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,553 shares of the oilfield services company's stock, valued at approximately $369,000.

A number of other large investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Halliburton by 450.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company's stock worth $759,623,000 after purchasing an additional 24,506,472 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Halliburton by 15.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,093,680 shares of the oilfield services company's stock worth $437,587,000 after purchasing an additional 2,171,722 shares during the period. Invesco Ltd. lifted its stake in shares of Halliburton by 7.3% during the 1st quarter. Invesco Ltd. now owns 10,813,905 shares of the oilfield services company's stock worth $274,349,000 after purchasing an additional 731,105 shares during the period. LSV Asset Management lifted its stake in shares of Halliburton by 3.3% during the 1st quarter. LSV Asset Management now owns 6,113,044 shares of the oilfield services company's stock worth $155,088,000 after purchasing an additional 193,022 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Halliburton by 5.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,279,815 shares of the oilfield services company's stock worth $133,949,000 after purchasing an additional 282,492 shares during the period. Hedge funds and other institutional investors own 85.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HAL. Piper Sandler lowered Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price target on the stock. in a research note on Monday, July 28th. Stifel Nicolaus cut their target price on Halliburton from $31.00 to $29.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Melius Research initiated 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, Wells Fargo & Company cut their target price on Halliburton from $28.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Thirteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $31.37.

Halliburton Stock Up 0.2%

Shares of NYSE HAL traded up $0.04 during midday trading on Thursday, reaching $22.29. 6,095,156 shares of the company's stock were exchanged, compared to its average volume of 13,317,654. Halliburton Company has a 52-week low of $18.72 and a 52-week high of $32.57. The stock has a market capitalization of $19.00 billion, a PE ratio of 10.42 and a beta of 1.10. 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 business's fifty day moving average price is $21.88 and its two-hundred day moving average price is $21.90.

Halliburton (NYSE:HAL - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.55. The business had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.43 billion. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.The company's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.80 earnings per share. Analysts forecast that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Wednesday, September 3rd. Halliburton's dividend payout ratio (DPR) is 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.