Banque Cantonale Vaudoise Invests $1.17 Million in Halliburton Company (NYSE:HAL)

Key Points

• Banque Cantonale Vaudoise acquired a new position in Halliburton, purchasing 46,218 shares valued at approximately $1.17 million, indicating institutional interest in the oilfield services company.
• Halliburton reported earnings of $0.55 per share for the quarter, similar to analyst expectations, although its revenue decreased 5.5% year-over-year to $5.51 billion.
• The company declared a quarterly dividend of $0.17 per share, with a dividend yield of 3.0%, showing its commitment to returning value to shareholders.

Banque Cantonale Vaudoise bought a new position in shares of Halliburton Company (NYSE:HAL - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 46,218 shares of the oilfield services company's stock, valued at approximately $1,173,000.

Other institutional investors also recently bought and sold shares of the company. Mascagni Wealth Management Inc. purchased a new stake in Halliburton during the 4th quarter worth about $28,000. Hexagon Capital Partners LLC grew its holdings in shares of Halliburton by 87.4% during the first quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company's stock worth $36,000 after buying an additional 656 shares in the last quarter. Vermillion Wealth Management Inc. purchased a new stake in shares of Halliburton during the fourth quarter worth about $39,000. Versant Capital Management Inc raised its position in shares of Halliburton by 830.5% in the first quarter. Versant Capital Management Inc now owns 2,047 shares of the oilfield services company's stock valued at $52,000 after buying an additional 1,827 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in shares of Halliburton during the first quarter valued at approximately $57,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on HAL shares. Citigroup lowered their target price on shares of Halliburton from $33.00 to $31.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Piper Sandler lowered Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 target price for the company. in a research note on Monday, July 28th. Royal Bank Of Canada reduced their target price on Halliburton from $28.00 to $24.00 and set a "sector perform" rating on the stock in a research report on Wednesday, July 23rd. Susquehanna dropped their price objective on shares of Halliburton from $30.00 to $27.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Finally, Morgan Stanley decreased their target price on shares of Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

Halliburton Stock Down 3.8%

Shares of HAL traded down $0.86 during mid-day trading on Friday, reaching $21.54. 18,937,949 shares of the stock traded hands, compared to its average volume of 15,480,954. The stock has a fifty day simple moving average of $21.45 and a 200 day simple moving average of $23.02. Halliburton Company has a 12-month low of $18.72 and a 12-month high of $32.81. 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 $18.37 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 3.74 and a beta of 1.12.

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 (EPS) for the quarter, hitting the consensus estimate 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 net margin of 8.37% and a return on equity of 21.45%. The firm's quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. Sell-side analysts expect that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $0.68 dividend on an annualized basis and a yield of 3.2%. Halliburton's dividend payout ratio is currently 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.