Algert Global LLC Makes New Investment in Halliburton Company $HAL

Key Points

• Algert Global LLC acquired a new position in Halliburton, purchasing 69,849 shares valued at approximately $1.77 million during the 1st quarter.
• Despite a 5.5% year-over-year revenue decline, Halliburton reported an EPS of $0.55 for the recent quarter, matching analyst expectations.
• The company announced a quarterly dividend of $0.17 per share, representing a 3.2% yield, with an upcoming payment date set for September 24th.

Algert Global LLC acquired a new position in shares of Halliburton Company (NYSE:HAL - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 69,849 shares of the oilfield services company's stock, valued at approximately $1,772,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position 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 valued at $759,623,000 after purchasing an additional 24,506,472 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Halliburton by 15.6% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,093,680 shares of the oilfield services company's stock worth $437,587,000 after acquiring an additional 2,171,722 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Halliburton by 7.3% in the 1st quarter. Invesco Ltd. now owns 10,813,905 shares of the oilfield services company's stock worth $274,349,000 after acquiring an additional 731,105 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Halliburton by 16.2% in the 4th quarter. Northern Trust Corp now owns 9,184,850 shares of the oilfield services company's stock valued at $249,736,000 after purchasing an additional 1,283,094 shares in the last quarter. Finally, LSV Asset Management raised its position in Halliburton by 3.3% in 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. Institutional investors own 85.23% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on HAL. Barclays cut their price target on shares of Halliburton from $26.00 to $22.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 23rd. Morgan Stanley decreased their price target on Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. The Goldman Sachs Group dropped their price objective on Halliburton from $27.00 to $24.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Piper Sandler cut shares of Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 target price on the stock. in a report on Monday, July 28th. Finally, Wells Fargo & Company lowered their price target 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. Fourteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $32.05.

Halliburton Stock Up 4.6%

Shares of HAL stock traded up $0.9750 during midday trading on Friday, reaching $22.2550. 12,617,447 shares of the stock were exchanged, compared to its average volume of 12,078,592. Halliburton Company has a 1 year low of $18.72 and a 1 year high of $32.57. The firm has a market cap of $18.97 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 3.90 and a beta of 1.12. The company's 50 day moving average is $21.61 and its two-hundred day moving average is $22.36. The company has a current ratio of 2.00, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68.

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 the consensus estimate of $0.55. The company had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.43 billion. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.The firm's revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 earnings per share. On average, equities research analysts predict that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 3.1%. Halliburton's payout ratio is presently 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.