Allegiance Financial Group Advisory Services LLC Buys New Position in Halliburton Company $HAL

Key Points

• Allegiance Financial Group has acquired a new stake in Halliburton Company, purchasing 11,036 shares valued at approximately $225,000 during the 2nd quarter.
• Major hedge funds have significantly increased their holdings in Halliburton, with Charles Schwab Investment Management raising its position by 450.9% during the 1st quarter.
• Equities research analysts maintain a consensus rating of "Moderate Buy" for Halliburton, with an average price target of $31.30, despite Barclays and Piper Sandler lowering their price objectives.

Allegiance Financial Group Advisory Services LLC bought a new stake in shares of Halliburton Company (NYSE:HAL - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 11,036 shares of the oilfield services company's stock, valued at approximately $225,000.

Several other hedge funds have also modified their holdings of HAL. Charles Schwab Investment Management Inc. raised its holdings 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 buying an additional 24,506,472 shares during the period. AQR Capital Management LLC raised its holdings in shares of Halliburton by 217.4% during the 1st quarter. AQR Capital Management LLC now owns 4,641,111 shares of the oilfield services company's stock valued at $116,770,000 after buying an additional 3,178,746 shares during the period. Nuveen LLC purchased a new stake in shares of Halliburton during the 1st quarter valued at about $72,637,000. Assenagon Asset Management S.A. raised its holdings in shares of Halliburton by 292.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,807,084 shares of the oilfield services company's stock valued at $57,208,000 after buying an additional 2,091,872 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Halliburton by 121.8% during the 1st quarter. Victory Capital Management Inc. now owns 3,306,224 shares of the oilfield services company's stock valued at $83,879,000 after buying an additional 1,815,357 shares during the period. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Barclays dropped their price objective on Halliburton from $26.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 23rd. Piper Sandler downgraded Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price objective on the stock. in a report on Monday, July 28th. UBS Group lifted their price objective on Halliburton from $21.00 to $23.00 and gave the stock a "neutral" rating in a report on Monday. Melius assumed coverage on Halliburton in a report on Wednesday, August 20th. They set a "buy" rating and a $41.00 price objective on the stock. Finally, Stifel Nicolaus dropped their price objective on Halliburton from $31.00 to $29.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $31.30.

Halliburton Price Performance

Shares of NYSE HAL opened at $23.93 on Thursday. Halliburton Company has a twelve month low of $18.72 and a twelve month high of $32.57. The company has a market capitalization of $20.40 billion, a price-to-earnings ratio of 11.18 and a beta of 1.02. The company has a current ratio of 2.00, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. The business has a 50 day simple moving average of $22.50 and a 200-day simple moving average of $21.83.

Halliburton (NYSE:HAL - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share (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 business had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The business's revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, equities research analysts expect that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. Halliburton's payout ratio is currently 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.

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