Ameriprise Financial Inc. Acquires 73,310 Shares of Halliburton Company $HAL

Key Points

• Ameriprise Financial Inc. increased its holdings in Halliburton Company by 4.6%, owning a total of 1,652,217 shares valued at approximately $41.9 million as of the latest SEC filing.
• Institutional investors, most notably Charles Schwab Investment Management, significantly increased their stakes in Halliburton, with Schwab raising its ownership by 450.9% during the first quarter.
• Halliburton announced a quarterly dividend of $0.17 per share, equating to an annualized dividend yield of 3.0%, with a current payout ratio of 31.78%.

Ameriprise Financial Inc. boosted its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,652,217 shares of the oilfield services company's stock after purchasing an additional 73,310 shares during the period. Ameriprise Financial Inc. owned approximately 0.19% of Halliburton worth $41,921,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in Halliburton by 450.9% during the first 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 lifted its position in shares of 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 valued at $437,587,000 after acquiring an additional 2,171,722 shares during the last quarter. Invesco Ltd. lifted its position in shares of Halliburton by 7.3% during the 1st quarter. Invesco Ltd. now owns 10,813,905 shares of the oilfield services company's stock valued at $274,349,000 after acquiring an additional 731,105 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Halliburton by 16.2% during the fourth 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 during the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Halliburton by 3.3% during the first quarter. LSV Asset Management now owns 6,113,044 shares of the oilfield services company's stock valued at $155,088,000 after purchasing an additional 193,022 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on HAL shares. Melius Research assumed coverage on Halliburton in a report on Wednesday, August 20th. They set a "buy" rating and a $41.00 target price for the company. Royal Bank Of Canada reduced their price objective on shares of Halliburton from $28.00 to $24.00 and set a "sector perform" rating for the company in a research note on Wednesday, July 23rd. UBS Group upped their price objective on shares of Halliburton from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Piper Sandler downgraded 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. Finally, Stifel Nicolaus reduced their price target on shares of Halliburton from $31.00 to $29.00 and set a "buy" rating for the company in a research report 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $32.05.

Halliburton Stock Down 4.8%

HAL stock traded down $1.09 during midday trading on Wednesday, reaching $21.61. The company had a trading volume of 12,583,002 shares, compared to its average volume of 9,720,602. 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 Company has a 1 year low of $18.72 and a 1 year high of $32.57. The company has a 50 day moving average of $21.69 and a two-hundred day moving average of $22.19. The company has a market capitalization of $18.42 billion, a P/E ratio of 10.10 and a beta of 1.10.

Halliburton (NYSE:HAL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 period last year, the company earned $0.80 earnings per share. Halliburton's quarterly revenue was down 5.5% compared to the same quarter last year. On average, equities research analysts expect that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.1%. Halliburton's dividend payout ratio (DPR) 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.