Foster Victor Wealth Advisors LLC Purchases 106,347 Shares of Halliburton Company $HAL

Key Points

• Foster Victor Wealth Advisors LLC increased its investment in Halliburton by 14.7%, acquiring an additional 106,347 shares to bring its total holdings to 828,905 shares.
• Halliburton's recent earnings report revealed $0.55 earnings per share, matching estimates, while quarterly revenue declined by 5.5% year-over-year to $5.51 billion.
• The company announced a quarterly dividend of $0.17, reflecting a yield of 2.8% with a payout ratio of 31.78%.

Foster Victor Wealth Advisors LLC grew its position in shares of Halliburton Company (NYSE:HAL - Free Report) by 14.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 828,905 shares of the oilfield services company's stock after buying an additional 106,347 shares during the quarter. Halliburton accounts for 1.2% of Foster Victor Wealth Advisors LLC's portfolio, making the stock its 20th largest position. Foster Victor Wealth Advisors LLC owned about 0.10% of Halliburton worth $18,269,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HAL. SBI Securities Co. Ltd. increased its holdings in shares of Halliburton by 8.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 6,870 shares of the oilfield services company's stock worth $174,000 after purchasing an additional 562 shares in the last quarter. Mediolanum International Funds Ltd boosted its position in shares of Halliburton by 0.8% during the first quarter. Mediolanum International Funds Ltd now owns 72,381 shares of the oilfield services company's stock valued at $1,815,000 after buying an additional 584 shares during the last quarter. Hills Bank & Trust Co increased its holdings in Halliburton by 1.6% in the 1st quarter. Hills Bank & Trust Co now owns 38,733 shares of the oilfield services company's stock worth $983,000 after buying an additional 595 shares in the last quarter. AE Wealth Management LLC raised its position in Halliburton by 5.1% in the 1st quarter. AE Wealth Management LLC now owns 12,469 shares of the oilfield services company's stock worth $316,000 after buying an additional 605 shares during the last quarter. Finally, Argonautica Private Wealth Management Inc. raised its position in Halliburton by 3.7% in the 1st quarter. Argonautica Private Wealth Management Inc. now owns 17,181 shares of the oilfield services company's stock worth $436,000 after buying an additional 614 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

Halliburton Trading Up 7.4%

Halliburton stock opened at $24.28 on Wednesday. Halliburton Company has a 1 year low of $18.72 and a 1 year high of $32.57. The firm's 50 day moving average price is $21.94 and its 200-day moving average price is $21.83. 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 stock has a market cap of $20.70 billion, a P/E ratio of 11.35 and a beta of 1.10.

Halliburton (NYSE:HAL - Get Free Report) last posted its 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. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The company had revenue of $5.51 billion during the quarter, compared to analysts' expectations of $5.43 billion. During the same period last year, the company posted $0.80 earnings per share. Halliburton's quarterly revenue was down 5.5% on a year-over-year basis. On average, equities analysts predict that Halliburton Company will post 2.64 earnings per share 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 paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. Halliburton's payout ratio is presently 31.78%.

Wall Street Analysts Forecast Growth

HAL has been the topic of a number of recent analyst reports. Susquehanna dropped their price target on shares of Halliburton from $30.00 to $27.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Melius Research assumed coverage on shares of Halliburton in a report on Wednesday, August 20th. They issued a "buy" rating and a $41.00 target price on the stock. Royal Bank Of Canada cut their target price on shares of 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 started coverage on Halliburton in a report on Wednesday, August 20th. They set a "buy" rating and a $41.00 price target on the stock. Finally, Stifel Nicolaus cut their price objective on Halliburton from $31.00 to $29.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Thirteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Halliburton presently has a consensus rating of "Moderate Buy" and an average price target of $31.37.

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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