23,600 Shares in Halliburton Company (NYSE:HAL) Bought by SCP Investment LP

Key Points

• SCP Investment LP purchased 23,600 shares of Halliburton, valued at approximately $599,000, making it the 29th largest holding in their portfolio.
• Halliburton's stock has seen a decrease in price targets from several analysts, with Stifel Nicolaus lowering its price objective from $31.00 to $29.00 while maintaining a "buy" rating.
• Despite a recent net margin of 8.37% and earnings per share hitting estimates, Halliburton's revenue was down 5.5% year-over-year, indicating potential challenges for future growth.

SCP Investment LP acquired a new stake in Halliburton Company (NYSE:HAL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,600 shares of the oilfield services company's stock, valued at approximately $599,000. Halliburton comprises 0.5% of SCP Investment LP's holdings, making the stock its 29th largest position.

A number of other institutional investors have also modified their holdings of HAL. Mascagni Wealth Management Inc. bought a new position in shares of Halliburton in the 4th quarter worth about $28,000. Hexagon Capital Partners LLC lifted 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 buying an additional 656 shares during the last quarter. Vermillion Wealth Management Inc. bought a new position in Halliburton during the fourth quarter worth $39,000. Versant Capital Management Inc increased its position in Halliburton by 830.5% during the first quarter. Versant Capital Management Inc now owns 2,047 shares of the oilfield services company's stock worth $52,000 after acquiring an additional 1,827 shares during the period. Finally, Wayfinding Financial LLC bought a new stake in Halliburton in the 1st quarter valued at $57,000. Institutional investors and hedge funds own 85.23% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HAL. Hsbc Global Res raised shares of Halliburton to a "hold" rating in a report on Wednesday, April 23rd. Royal Bank Of Canada lowered their price objective on shares of Halliburton from $28.00 to $24.00 and set a "sector perform" rating for the company in a research report on Wednesday, July 23rd. Wells Fargo & Company reduced their target price on shares of Halliburton from $28.00 to $26.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Morgan Stanley reduced their target price on shares of Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Finally, Barclays reduced 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 note on Wednesday, July 23rd. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, Halliburton presently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

Halliburton Trading Down 0.6%

Shares of NYSE:HAL traded down $0.14 during mid-day trading on Tuesday, hitting $21.54. The company had a trading volume of 2,461,329 shares, compared to its average volume of 13,890,001. The firm has a fifty day moving average price of $21.48 and a 200 day moving average price of $22.92. The company has a market capitalization of $18.36 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 3.74 and a beta of 1.12. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.00 and a quick ratio of 1.47. Halliburton Company has a one year low of $18.72 and a one year high of $32.57.

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

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Wednesday, June 4th. 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.