Banque Pictet & Cie SA Grows Stock Position in Halliburton Company (NYSE:HAL)

Banque Pictet & Cie SA boosted its position in Halliburton Company (NYSE:HAL - Free Report) by 27.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,884 shares of the oilfield services company's stock after purchasing an additional 15,122 shares during the quarter. Banque Pictet & Cie SA's holdings in Halliburton were worth $1,773,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Greenleaf Trust lifted its position in shares of Halliburton by 17.0% during the 1st quarter. Greenleaf Trust now owns 16,508 shares of the oilfield services company's stock valued at $419,000 after acquiring an additional 2,399 shares during the period. Brown Advisory Inc. lifted its position in shares of Halliburton by 12.0% during the 1st quarter. Brown Advisory Inc. now owns 23,712 shares of the oilfield services company's stock valued at $602,000 after acquiring an additional 2,536 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Halliburton by 3.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 402,532 shares of the oilfield services company's stock worth $10,212,000 after buying an additional 13,291 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Halliburton by 87.4% during the 1st 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. Finally, Concurrent Investment Advisors LLC raised its holdings in shares of Halliburton by 22.9% during the 1st quarter. Concurrent Investment Advisors LLC now owns 128,351 shares of the oilfield services company's stock worth $3,256,000 after buying an additional 23,887 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HAL has been the subject of a number of research analyst reports. Stifel Nicolaus lowered their price target on Halliburton from $37.00 to $32.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Morgan Stanley lowered their price target on Halliburton from $34.00 to $28.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Barclays lowered their price target on Halliburton from $29.00 to $26.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Susquehanna lowered their price target on Halliburton from $32.00 to $30.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group lowered their target price on Halliburton from $27.00 to $24.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.53.

Halliburton Trading Up 3.0%

Shares of Halliburton stock traded up $0.66 on Friday, hitting $22.82. 11,820,589 shares of the company's stock traded hands, compared to its average volume of 13,607,899. Halliburton Company has a one year low of $18.72 and a one year high of $37.08. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.98 and a quick ratio of 1.46. The company has a fifty day moving average of $20.94 and a two-hundred day moving average of $23.64. The company has a market capitalization of $19.61 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 3.47 and a beta of 1.13.

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, hitting the consensus estimate of $0.60. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.28 billion. Halliburton had a return on equity of 24.01% and a net margin of 9.31%. As a group, sell-side analysts expect that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th were issued a $0.17 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $0.68 annualized dividend and a yield of 2.98%. Halliburton's payout ratio is currently 28.45%.

Halliburton 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.