Alliancebernstein L.P. Purchases 33,460 Shares of Halliburton Company $HAL

Key Points

• Alliancebernstein L.P. increased its stake in Halliburton Company by 3.0%, now owning approximately 1.16 million shares valued at about $29.38 million.
• Halliburton recently declared a quarterly dividend of $0.17 per share, representing a 3.1% dividend yield and a payout ratio of 31.78%.
• The company's last earnings report showed earnings per share of $0.55, matching analyst expectations, despite a 5.5% year-over-year revenue decline.

Alliancebernstein L.P. raised its holdings in Halliburton Company (NYSE:HAL - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,157,998 shares of the oilfield services company's stock after buying an additional 33,460 shares during the quarter. Alliancebernstein L.P. owned 0.13% of Halliburton worth $29,378,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HAL. Baird Financial Group Inc. grew its position in Halliburton by 30.9% in the 4th quarter. Baird Financial Group Inc. now owns 19,255 shares of the oilfield services company's stock worth $524,000 after purchasing an additional 4,549 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of Halliburton by 14.7% in the 4th quarter. Captrust Financial Advisors now owns 49,817 shares of the oilfield services company's stock worth $1,355,000 after buying an additional 6,383 shares during the last quarter. Cetera Investment Advisers grew its position in Halliburton by 26.6% during the fourth quarter. Cetera Investment Advisers now owns 128,118 shares of the oilfield services company's stock valued at $3,484,000 after buying an additional 26,939 shares during the period. Ensign Peak Advisors Inc boosted its stake in Halliburton by 62.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 229,857 shares of the oilfield services company's stock valued at $6,250,000 after acquiring an additional 88,650 shares during the last quarter. Finally, Focus Partners Wealth grew its holdings in Halliburton by 74.6% during the fourth quarter. Focus Partners Wealth now owns 41,637 shares of the oilfield services company's stock valued at $1,141,000 after purchasing an additional 17,789 shares during the period. Institutional investors own 85.23% of the company's stock.

Halliburton Price Performance

NYSE:HAL traded down $0.06 during trading hours on Friday, hitting $22.25. 6,732,274 shares of the company's stock traded hands, compared to its average volume of 9,990,366. Halliburton Company has a 52 week low of $18.72 and a 52 week high of $32.57. The business's fifty day simple moving average is $21.85 and its two-hundred day simple moving average is $21.95. The company has a quick ratio of 1.47, a current ratio of 2.00 and a debt-to-equity ratio of 0.68. The firm has a market cap of $18.97 billion, a P/E ratio of 10.40 and a beta of 1.10.

Halliburton (NYSE:HAL - Get Free Report) last released its quarterly 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. 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 last year, the firm posted $0.80 EPS. The company's revenue was down 5.5% compared to the same quarter last year. On average, research analysts anticipate that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders 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 3.1%. The ex-dividend date of this dividend is Wednesday, September 3rd. Halliburton's payout ratio is currently 31.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wells Fargo & Company cut their target price on shares of Halliburton from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Melius Research began coverage on shares of Halliburton in a report on Wednesday, August 20th. They issued a "buy" rating and a $41.00 price objective for the company. UBS Group boosted their target price on shares of Halliburton from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Melius initiated coverage on Halliburton in a research report on Wednesday, August 20th. They set a "buy" rating and a $41.00 target price on the stock. Finally, Barclays decreased their price objective on Halliburton from $26.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 23rd. Fourteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, Halliburton presently has an average rating of "Moderate Buy" and a consensus price target of $32.05.

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.