Campbell & CO Investment Adviser LLC Acquires Shares of 114,613 Halliburton Company $HAL

Key Points

• Campbell & CO Investment Adviser LLC has acquired a new position in Halliburton Company, purchasing 114,613 shares valued at approximately $2.91 million.
• Several institutional investors, including Charles Schwab Investment Management Inc. and Victory Capital Management Inc., significantly increased their holdings in Halliburton during the first quarter, indicating robust institutional interest.
• Research analysts have varying price targets for Halliburton, with an average consensus price target of $32.05, reflecting a "Moderate Buy" rating from analysts.

Campbell & CO Investment Adviser LLC bought a new stake in Halliburton Company (NYSE:HAL - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 114,613 shares of the oilfield services company's stock, valued at approximately $2,908,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of HAL. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 worth $759,623,000 after acquiring an additional 24,506,472 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in Halliburton by 15.6% during the fourth 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 purchasing an additional 2,171,722 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Halliburton by 7.3% in the 1st quarter. Invesco Ltd. now owns 10,813,905 shares of the oilfield services company's stock worth $274,349,000 after purchasing an additional 731,105 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Halliburton by 16.2% in the 4th quarter. Northern Trust Corp now owns 9,184,850 shares of the oilfield services company's stock worth $249,736,000 after purchasing an additional 1,283,094 shares in the last quarter. Finally, LSV Asset Management increased its position in shares of Halliburton by 3.3% during the 1st quarter. LSV Asset Management now owns 6,113,044 shares of the oilfield services company's stock valued at $155,088,000 after purchasing an additional 193,022 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Melius started coverage on Halliburton in a research report on Wednesday, August 20th. They issued a "buy" rating and a $41.00 target price for the company. Stifel Nicolaus decreased their price target on shares of Halliburton from $31.00 to $29.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Piper Sandler cut shares of Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price objective for the company. in a research note on Monday, July 28th. Melius Research began coverage on shares of Halliburton in a research report on Wednesday, August 20th. They issued a "buy" rating and a $41.00 target price on the stock. Finally, Barclays lowered their price target on shares of Halliburton from $26.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 23rd. Fourteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Halliburton currently has an average rating of "Moderate Buy" and an average price target of $32.05.

Halliburton Trading Up 1.5%

Shares of Halliburton stock traded up $0.34 during midday trading on Thursday, reaching $22.64. 11,981,269 shares of the company's stock traded hands, compared to its average volume of 13,577,068. The company has a market cap of $19.30 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 3.83 and a beta of 1.12. The stock has a 50 day moving average of $21.57 and a 200-day moving average of $22.32. Halliburton Company has a 12 month low of $18.72 and a 12 month high of $32.57. 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 issued its quarterly earnings data on Tuesday, July 22nd. The oilfield services company reported $0.55 EPS 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 net margin of 8.37% and a return on equity of 21.45%. The company's revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 EPS. As a group, equities analysts expect that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, September 3rd. Halliburton's payout ratio is presently 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.