35,762 Shares in Halliburton Company (NYSE:HAL) Bought by CCM Investment Group LLC

Key Points

• CCM Investment Group LLC purchased 35,762 shares of Halliburton Company, valued at approximately $897,000, indicating growing institutional interest in the oilfield services firm.
• Halliburton reported $0.55 earnings per share for the last quarter, in line with analysts' expectations, but experienced a 5.5% decline in revenue compared to the same quarter last year.
• The company declared a quarterly dividend of $0.17 per share, yielding 3.3%, with a payout ratio of 31.78%, appealing to dividend-focused investors.

CCM Investment Group LLC acquired a new stake in Halliburton Company (NYSE:HAL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 35,762 shares of the oilfield services company's stock, valued at approximately $897,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mascagni Wealth Management Inc. acquired a new position in shares of Halliburton in the fourth quarter valued at approximately $28,000. Hexagon Capital Partners LLC increased its position in Halliburton by 87.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company's stock valued at $36,000 after purchasing an additional 656 shares during the period. Zions Bancorporation National Association UT bought a new position in shares of Halliburton during the 1st quarter worth approximately $37,000. Vermillion Wealth Management Inc. bought a new position in shares of Halliburton during the 4th quarter worth approximately $39,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Halliburton by 830.5% in the 1st quarter. Versant Capital Management Inc now owns 2,047 shares of the oilfield services company's stock worth $52,000 after purchasing an additional 1,827 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on HAL. Barclays lowered their price target on Halliburton from $26.00 to $22.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 23rd. Stifel Nicolaus decreased their price objective on Halliburton from $31.00 to $29.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. UBS Group cut their target price on Halliburton from $21.00 to $20.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Piper Sandler downgraded Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price target for the company. in a research report on Monday, July 28th. Finally, The Goldman Sachs Group dropped their target price on Halliburton from $27.00 to $24.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $31.00.

Halliburton Stock Performance

HAL traded up $0.19 on Wednesday, hitting $21.16. 9,058,379 shares of the company traded hands, compared to its average volume of 14,991,138. The stock has a market capitalization of $18.04 billion, a PE ratio of 9.89, a PEG ratio of 3.67 and a beta of 1.12. The company has a 50 day moving average of $21.61 and a 200-day moving average of $22.64. Halliburton Company has a 12-month low of $18.72 and a 12-month high of $32.57. The company has a quick ratio of 1.47, a current ratio of 2.00 and a debt-to-equity ratio of 0.68.

Halliburton (NYSE:HAL - Get Free Report) last announced its earnings results 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 return on equity of 21.45% and a net margin of 8.37%. The firm had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.43 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. Halliburton's quarterly revenue was down 5.5% on a year-over-year basis. Sell-side analysts anticipate that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Dividend Announcement

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 3.2%. Halliburton's dividend payout ratio (DPR) is 31.78%.

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.