Aberdeen Group plc Increases Stake in Halliburton Company $HAL

Key Points

• Aberdeen Group plc has increased its stake in Halliburton Company by 3.7%, now owning over 613,000 shares valued at approximately $12.6 million.
• Halliburton reported a quarterly revenue of $5.51 billion, meeting analyst expectations, but experienced a 5.5% decline year-over-year in revenue.
• The company announced a quarterly dividend of $0.17 per share, reflecting a 3.0% dividend yield and a payout ratio of 31.78%.

Aberdeen Group plc increased its stake in Halliburton Company (NYSE:HAL - Free Report) by 3.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 613,025 shares of the oilfield services company's stock after purchasing an additional 21,736 shares during the period. Aberdeen Group plc owned 0.07% of Halliburton worth $12,638,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of HAL. GAMMA Investing LLC grew its holdings in shares of Halliburton by 33.6% during the first quarter. GAMMA Investing LLC now owns 11,619 shares of the oilfield services company's stock valued at $295,000 after buying an additional 2,925 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Halliburton by 33.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 159,533 shares of the oilfield services company's stock valued at $4,047,000 after purchasing an additional 40,109 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Halliburton by 67.2% in the first quarter. Exchange Traded Concepts LLC now owns 27,374 shares of the oilfield services company's stock valued at $694,000 after purchasing an additional 10,998 shares during the period. Sowell Financial Services LLC raised its stake in shares of Halliburton by 5.5% in the first quarter. Sowell Financial Services LLC now owns 24,036 shares of the oilfield services company's stock worth $610,000 after purchasing an additional 1,262 shares during the last quarter. Finally, Chicago Capital LLC acquired a new stake in shares of Halliburton during the first quarter worth about $212,000. Institutional investors and hedge funds own 85.23% of the company's stock.

Halliburton Price Performance

NYSE:HAL opened at $22.36 on Thursday. 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 firm has a market cap of $19.06 billion, a price-to-earnings ratio of 10.45 and a beta of 1.02. The company has a 50 day moving average price of $22.59 and a 200-day moving average price of $21.73. Halliburton Company has a 1-year low of $18.72 and a 1-year high of $32.57.

Halliburton (NYSE:HAL - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share for the quarter, meeting the consensus estimate of $0.55. The firm had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.43 billion. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The business'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. Equities research analysts forecast that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, September 3rd. Halliburton's payout ratio is 31.78%.

Analyst Ratings Changes

A number of equities research analysts recently commented on HAL shares. Citigroup reiterated a "buy" rating on shares of Halliburton in a research report on Tuesday. Melius Research initiated coverage on shares of Halliburton in a report on Wednesday, August 20th. They issued a "buy" rating and a $41.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of Halliburton from $28.00 to $26.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Susquehanna lowered their price target on shares of Halliburton from $30.00 to $27.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Finally, Piper Sandler downgraded Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price target on the stock. in a research report on Monday, July 28th. Thirteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.61.

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.

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