Bulltick Wealth Management LLC Has $4.01 Million Stock Position in Halliburton Company (NYSE:HAL)

Key Points

• Bulltick Wealth Management LLC significantly increased its stake in Halliburton Company by 789.6% to hold 157,901 shares valued at approximately $4.01 million.
• Several institutional investors have also raised their positions in Halliburton, with Charles Schwab Investment Management Inc. increasing its holdings by 450.9% in the 1st quarter.
• Halliburton reported a quarterly earnings of $0.55 per share, matching expectations, and its revenue for the quarter was $5.51 billion, slightly exceeding analysts' predictions.

Bulltick Wealth Management LLC boosted its position in Halliburton Company (NYSE:HAL - Free Report) by 789.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 157,901 shares of the oilfield services company's stock after acquiring an additional 140,151 shares during the quarter. Bulltick Wealth Management LLC's holdings in Halliburton were worth $4,006,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new position in shares of Halliburton during the first quarter worth about $30,000. HighTower Advisors LLC lifted its stake in shares of Halliburton by 1.3% during the first quarter. HighTower Advisors LLC now owns 689,606 shares of the oilfield services company's stock worth $17,495,000 after purchasing an additional 8,913 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Halliburton by 1.8% during the first quarter. Public Sector Pension Investment Board now owns 232,128 shares of the oilfield services company's stock worth $5,889,000 after purchasing an additional 4,186 shares in the last quarter. Longfellow Investment Management Co. LLC acquired a new position in shares of Halliburton during the first quarter worth about $419,000. Finally, Ballast Inc. lifted its stake in shares of Halliburton by 3.6% during the first quarter. Ballast Inc. now owns 25,940 shares of the oilfield services company's stock worth $658,000 after purchasing an additional 895 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company's stock.

Analyst Upgrades and Downgrades

HAL has been the topic of several recent analyst reports. Morgan Stanley cut their price target on Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. UBS Group cut their price target on Halliburton from $21.00 to $20.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. Royal Bank Of Canada cut their price target on Halliburton from $28.00 to $24.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 23rd. Barclays cut their price target on Halliburton from $26.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 23rd. Finally, Piper Sandler cut Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price target on the stock. in a research note on Monday, July 28th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

Halliburton Price Performance

Shares of HAL stock traded up $0.19 during mid-day trading on Wednesday, hitting $21.16. 9,058,379 shares of the stock traded hands, compared to its average volume of 14,991,138. Halliburton Company has a twelve month low of $18.72 and a twelve month high of $32.57. The firm has a market cap of $18.04 billion, a price-to-earnings ratio of 9.89, a price-to-earnings-growth ratio of 3.67 and a beta of 1.12. The company's 50-day simple moving average is $21.63 and its 200-day simple moving average is $22.63. 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 released its quarterly earnings data on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. The business had revenue of $5.51 billion during the quarter, compared to analyst estimates 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 period last year, the company posted $0.80 EPS. As a group, equities research analysts expect that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Investors 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%. 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.