Halliburton Company $HAL Shares Purchased by Allstate Corp

Key Points

• Allstate Corp increased its holdings in Halliburton Company by 81.0% in the 1st quarter, acquiring a total of 48,433 shares valued at approximately $1.23 million.
• Analysts have provided mixed ratings for Halliburton: Piper Sandler downgraded the stock to "neutral" with a target price of $25, while Melius initiated coverage with a "buy" rating and a target of $41.
• Halliburton declared a quarterly dividend of $0.17 per share, reflecting an annual yield of 3.1%, with the dividend set to be paid on September 24th.

Allstate Corp lifted its stake in Halliburton Company (NYSE:HAL - Free Report) by 81.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,433 shares of the oilfield services company's stock after purchasing an additional 21,676 shares during the quarter. Allstate Corp's holdings in Halliburton were worth $1,229,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position in 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 worth $759,623,000 after buying an additional 24,506,472 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in Halliburton by 15.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,093,680 shares of the oilfield services company's stock worth $437,587,000 after buying an additional 2,171,722 shares during the last quarter. Invesco Ltd. raised its position in Halliburton by 7.3% during the 1st quarter. Invesco Ltd. now owns 10,813,905 shares of the oilfield services company's stock worth $274,349,000 after buying an additional 731,105 shares during the last quarter. Northern Trust Corp raised its position in Halliburton by 16.2% during the 4th quarter. Northern Trust Corp now owns 9,184,850 shares of the oilfield services company's stock worth $249,736,000 after buying an additional 1,283,094 shares during the last quarter. Finally, LSV Asset Management raised its position in Halliburton by 3.3% during the 1st quarter. LSV Asset Management now owns 6,113,044 shares of the oilfield services company's stock worth $155,088,000 after buying an additional 193,022 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on HAL. UBS Group raised their price target on shares of Halliburton from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Piper Sandler lowered shares of 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. Barclays reduced 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 cut their target price on shares of Halliburton from $34.00 to $28.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Finally, The Goldman Sachs Group lowered their price target on shares of Halliburton from $27.00 to $24.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.05.

Halliburton Price Performance

NYSE HAL traded up $0.34 on Thursday, hitting $22.64. The company had a trading volume of 9,546,345 shares, compared to its average volume of 13,552,061. 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 company's fifty day moving average price is $21.57 and its 200-day moving average price is $22.32. The company has a market capitalization of $19.30 billion, a PE ratio of 10.58, a PEG ratio of 3.83 and a beta of 1.12. Halliburton Company has a 12-month low of $18.72 and a 12-month high of $32.57.

Halliburton (NYSE:HAL - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.55. The business had revenue of $5.51 billion for 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 company's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.80 earnings per share. As a group, analysts predict that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.0%. The ex-dividend date is Wednesday, September 3rd. Halliburton's payout ratio 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.