Black Cypress Capital Management LLC Acquires 64,824 Shares of Halliburton Company $HAL

Key Points

• Black Cypress Capital Management LLC increased its holdings in Halliburton by 30.7%, now owning 275,902 shares valued at $7 million, making Halliburton its 7th largest holding.
• Research analysts have set a consensus price target of $31.00 for Halliburton, with eight analysts rating the stock as "hold" and twelve as "buy."
• Halliburton announced a quarterly dividend of $0.17 per share, translating to an annualized yield of 3.2%, with a payout ratio of 31.78%.

Black Cypress Capital Management LLC raised its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 30.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,902 shares of the oilfield services company's stock after acquiring an additional 64,824 shares during the quarter. Halliburton makes up 6.4% of Black Cypress Capital Management LLC's investment portfolio, making the stock its 7th largest position. Black Cypress Capital Management LLC's holdings in Halliburton were worth $7,000,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in HAL. Charles Schwab Investment Management Inc. increased its holdings in Halliburton by 450.9% during the 1st 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 acquiring an additional 24,506,472 shares in the last quarter. Nuveen LLC purchased a new position in Halliburton during the 1st quarter valued at about $72,637,000. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in 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 in the last quarter. Victory Capital Management Inc. increased its holdings in Halliburton by 121.8% during the 1st quarter. Victory Capital Management Inc. now owns 3,306,224 shares of the oilfield services company's stock valued at $83,879,000 after acquiring an additional 1,815,357 shares in the last quarter. Finally, Twinbeech Capital LP increased its holdings in Halliburton by 314.1% during the 4th quarter. Twinbeech Capital LP now owns 2,044,661 shares of the oilfield services company's stock valued at $55,594,000 after acquiring an additional 1,550,920 shares in the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HAL. 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 report on Monday, July 28th. Royal Bank Of Canada lowered their price target on shares of Halliburton from $28.00 to $24.00 and set a "sector perform" rating for the company in a report on Wednesday, July 23rd. Citigroup lowered their price target on shares of Halliburton from $33.00 to $31.00 and set a "buy" rating for the company in a report on Thursday, April 24th. UBS Group lowered their price target on shares of Halliburton from $21.00 to $20.00 and set a "neutral" rating for the company in a report on Wednesday, July 23rd. Finally, Melius Research began coverage on shares of Halliburton in a report on Wednesday. They set a "buy" rating and a $41.00 price target for the company. Fourteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Halliburton currently has a consensus rating of "Moderate Buy" and an average target price of $32.00.

Halliburton Trading Down 0.7%

Shares of HAL traded down $0.1430 during mid-day trading on Wednesday, hitting $20.9670. The company had a trading volume of 2,534,917 shares, compared to its average volume of 13,624,605. The business's 50-day simple moving average is $21.66 and its 200-day simple moving average is $22.46. The company has a quick ratio of 1.47, a current ratio of 2.00 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 stock has a market cap of $17.88 billion, a PE ratio of 9.82, a P/E/G ratio of 3.73 and a beta of 1.12.

Halliburton (NYSE:HAL - Get Free Report) last released its 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. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The business had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.43 billion. During the same period last year, the company earned $0.80 earnings per share. The company's quarterly revenue was down 5.5% on a year-over-year basis. Sell-side analysts forecast that Halliburton Company 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, September 24th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Halliburton's payout ratio 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.