Assenagon Asset Management S.A. Grows Position in Halliburton Company $HAL

Key Points

• Assenagon Asset Management S.A. increased its position in Halliburton Company by 292.5%, holding approximately $57.21 million worth of shares as of the latest SEC filing.
• Wall Street analysts have mixed views on Halliburton, with a consensus rating of "Moderate Buy" and a consensus price target of $31.37.
• The company declared a quarterly dividend of $0.17 per share, representing an annualized yield of 3.0%.

Assenagon Asset Management S.A. raised its position in Halliburton Company (NYSE:HAL - Free Report) by 292.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,807,084 shares of the oilfield services company's stock after buying an additional 2,091,872 shares during the period. Assenagon Asset Management S.A. owned approximately 0.33% of Halliburton worth $57,208,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HAL. Mascagni Wealth Management Inc. bought a new position in Halliburton during the 4th quarter worth approximately $28,000. Stone House Investment Management LLC bought a new stake in shares of Halliburton in the 1st quarter worth approximately $30,000. Hexagon Capital Partners LLC lifted its stake in Halliburton by 87.4% in the first quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company's stock valued at $36,000 after buying an additional 656 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in Halliburton during the 1st quarter valued at $37,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Halliburton during the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 85.23% of the company's stock.

Halliburton Price Performance

Shares of NYSE HAL traded up $1.52 during trading hours on Tuesday, hitting $24.13. 24,410,923 shares of the stock were exchanged, compared to its average volume of 13,459,021. The company's fifty day simple moving average is $21.88 and its two-hundred day simple moving average is $21.82. The company has a market cap of $20.57 billion, a PE ratio of 11.29 and a beta of 1.10. Halliburton Company has a 1-year low of $18.72 and a 1-year high of $32.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 2.00.

Halliburton (NYSE:HAL - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share for the quarter, meeting analysts' consensus estimates of $0.55. The firm had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.43 billion. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.The company's revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 EPS. On average, sell-side analysts predict that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 2.8%. Halliburton's dividend payout ratio is currently 31.78%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Melius began coverage on shares of Halliburton in a research report on Wednesday, August 20th. They issued a "buy" rating and a $41.00 price target on the stock. Wells Fargo & Company lowered their price target on Halliburton from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. UBS Group raised their target price 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. Royal Bank Of Canada lowered their target price on Halliburton from $28.00 to $24.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 23rd. Finally, Stifel Nicolaus decreased 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. Thirteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Halliburton has an average rating of "Moderate Buy" and a consensus target price of $31.37.

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.