Focus Partners Advisor Solutions LLC Takes $435,000 Position in Halliburton Company $HAL

Key Points

• Focus Partners Advisor Solutions LLC acquired a new stake in Halliburton Company, purchasing 17,144 shares valued at approximately $435,000.
• Institutional investors collectively own 85.23% of Halliburton's stock, indicating strong confidence in the company's prospects.
• Analysts have mixed views on Halliburton, with price targets ranging between $24.00 and $41.00, reflecting varying expectations on the company's future performance.

Focus Partners Advisor Solutions LLC bought a new stake in Halliburton Company (NYSE:HAL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,144 shares of the oilfield services company's stock, valued at approximately $435,000.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Halliburton by 450.9% during the first 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 during the last quarter. Nuveen LLC purchased a new stake in shares of Halliburton during the first quarter valued at approximately $72,637,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of 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 acquiring an additional 2,171,722 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Halliburton by 121.8% during the first 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 during the last quarter. Finally, Twinbeech Capital LP increased its position in shares of Halliburton by 314.1% during the fourth 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 during the last quarter. Institutional investors own 85.23% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Royal Bank Of Canada decreased their price target on Halliburton from $28.00 to $24.00 and set a "sector perform" rating for the company in a research report on Wednesday, July 23rd. Melius Research assumed coverage on Halliburton in a research report on Wednesday, August 20th. They set a "buy" rating and a $41.00 price target for the company. Morgan Stanley decreased their price target on Halliburton from $34.00 to $28.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Piper Sandler downgraded Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 target price for the company. in a research report on Monday, July 28th. Finally, Melius assumed 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. Fourteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Halliburton presently has an average rating of "Moderate Buy" and a consensus price target of $32.05.

Halliburton Stock Performance

NYSE:HAL opened at $22.09 on Friday. The company has a market capitalization of $18.84 billion, a P/E ratio of 10.32 and a beta of 1.10. Halliburton Company has a 1 year low of $18.72 and a 1 year high of $32.57. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.00 and a quick ratio of 1.47. The business has a fifty day simple moving average of $21.76 and a two-hundred day simple moving average of $22.13.

Halliburton (NYSE:HAL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share for the quarter, meeting the consensus estimate of $0.55. The company had revenue of $5.51 billion during the quarter, compared to analysts' expectations of $5.43 billion. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.The firm's quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 earnings per share. On average, analysts expect that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be given a $0.17 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 3.1%. Halliburton's payout ratio is 31.78%.

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.

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