25,048 Shares in Halliburton Company (NYSE:HAL) Purchased by ABC Arbitrage SA

Key Points

• ABC Arbitrage SA acquired 25,048 shares of Halliburton Company, valued at approximately $635,000, indicating increased institutional interest in the company.
• Halliburton reported a net revenue of $5.51 billion for its latest quarter, surpassing analysts' expectations, although earnings per share dropped from $0.80 to $0.55 year-over-year.
• The company announced a quarterly dividend of $0.17 per share, yielding 3.1%, with a dividend payout ratio of 31.78%.

ABC Arbitrage SA acquired a new stake in Halliburton Company (NYSE:HAL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 25,048 shares of the oilfield services company's stock, valued at approximately $635,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Mascagni Wealth Management Inc. acquired a new stake in shares of Halliburton in the 4th quarter valued at approximately $28,000. Hexagon Capital Partners LLC grew its holdings in Halliburton by 87.4% during the first quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company's stock worth $36,000 after acquiring an additional 656 shares during the period. Vermillion Wealth Management Inc. purchased a new position in Halliburton in the fourth quarter worth $39,000. Versant Capital Management Inc lifted its holdings in Halliburton by 830.5% in the first quarter. Versant Capital Management Inc now owns 2,047 shares of the oilfield services company's stock valued at $52,000 after acquiring an additional 1,827 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in shares of Halliburton during the 1st quarter worth $57,000. Hedge funds and other institutional investors own 85.23% of the company's stock.

Halliburton Stock Up 0.2%

HAL opened at $21.71 on Wednesday. Halliburton Company has a 12 month low of $18.72 and a 12 month high of $32.57. The business has a 50-day moving average of $21.52 and a two-hundred day moving average of $22.91. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.00 and a quick ratio of 1.47. The stock has a market capitalization of $18.51 billion, a price-to-earnings ratio of 10.14, a price-to-earnings-growth ratio of 3.75 and a beta of 1.12.

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

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Wednesday, June 4th. Halliburton's dividend payout ratio is presently 31.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on HAL shares. Wells Fargo & Company lowered their price target 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. Susquehanna lowered their target price on shares of Halliburton from $30.00 to $27.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Morgan Stanley dropped their target price on shares of Halliburton from $34.00 to $28.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Citigroup decreased their price target on Halliburton from $33.00 to $31.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Hsbc Global Res upgraded Halliburton to a "hold" rating in a report on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $31.00.

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.

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