Azzad Asset Management Inc. ADV Takes $4.73 Million Position in Halliburton (NYSE:HAL)

Azzad Asset Management Inc. ADV acquired a new position in Halliburton (NYSE:HAL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 186,385 shares of the oilfield services company's stock, valued at approximately $4,729,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Blume Capital Management Inc. increased its holdings in Halliburton by 33.3% in the fourth quarter. Blume Capital Management Inc. now owns 1,600 shares of the oilfield services company's stock worth $44,000 after buying an additional 400 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in Halliburton by 0.6% in the fourth quarter. Integrated Wealth Concepts LLC now owns 84,675 shares of the oilfield services company's stock worth $2,302,000 after buying an additional 484 shares during the last quarter. Nikko Asset Management Americas Inc. increased its holdings in Halliburton by 1.2% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 42,683 shares of the oilfield services company's stock worth $1,161,000 after buying an additional 505 shares during the last quarter. Fayez Sarofim & Co increased its holdings in Halliburton by 3.1% in the fourth quarter. Fayez Sarofim & Co now owns 17,060 shares of the oilfield services company's stock worth $464,000 after buying an additional 520 shares during the last quarter. Finally, Argonautica Private Wealth Management Inc. increased its holdings in Halliburton by 3.3% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 16,567 shares of the oilfield services company's stock worth $450,000 after buying an additional 523 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HAL. Susquehanna dropped their price objective on Halliburton from $32.00 to $30.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group lowered their price target on Halliburton from $27.00 to $24.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Hsbc Global Res upgraded Halliburton to a "hold" rating in a report on Wednesday, April 23rd. Stifel Nicolaus lowered their price target on Halliburton from $37.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company increased their price target on Halliburton from $27.00 to $28.00 and gave the company an "overweight" rating in a report on Thursday, June 5th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Halliburton has a consensus rating of "Moderate Buy" and an average price target of $33.58.

Halliburton Stock Performance

Halliburton stock traded up $1.22 on Friday, hitting $23.20. The company's stock had a trading volume of 22,807,677 shares, compared to its average volume of 11,152,242. The firm has a market cap of $19.95 billion, a P/E ratio of 8.20, a price-to-earnings-growth ratio of 3.79 and a beta of 1.14. The company has a quick ratio of 1.54, a current ratio of 2.05 and a debt-to-equity ratio of 0.68. The company has a fifty day moving average price of $20.74 and a 200-day moving average price of $24.58. Halliburton has a one year low of $18.72 and a one year high of $37.08.

Halliburton (NYSE:HAL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The oilfield services company reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.60. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.28 billion. Halliburton had a net margin of 10.90% and a return on equity of 26.03%. On average, equities analysts anticipate that Halliburton will post 2.64 earnings per share for the current year.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.93%. The ex-dividend date is Wednesday, June 4th. Halliburton's dividend payout ratio (DPR) is presently 28.45%.

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.