Halliburton Company $HAL Holdings Lifted by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp increased its stake in Halliburton by 82.4% in Q2, acquiring an additional 19,186 shares, which brings its total holdings to 42,482 shares valued at approximately $866,000.
• Halliburton reported $0.55 EPS during its latest earnings, meeting analyst expectations, with a revenue of $5.51 billion for the quarter.
• The company's quarterly dividend of $0.17 reflects a dividend yield of 2.7% and a payout ratio of 31.78%, emphasizing its commitment to returning capital to shareholders.

Fifth Third Bancorp increased its stake in Halliburton Company (NYSE:HAL - Free Report) by 82.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,482 shares of the oilfield services company's stock after acquiring an additional 19,186 shares during the period. Fifth Third Bancorp's holdings in Halliburton were worth $866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in HAL. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Halliburton by 18.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 119,424 shares of the oilfield services company's stock valued at $3,247,000 after acquiring an additional 18,245 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Halliburton by 830.5% in the first quarter. Versant Capital Management Inc now owns 2,047 shares of the oilfield services company's stock valued at $52,000 after acquiring an additional 1,827 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Halliburton by 3,290.5% in the first quarter. GAMMA Investing LLC now owns 294,774 shares of the oilfield services company's stock valued at $74,780,000 after acquiring an additional 286,080 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Halliburton by 25.0% in the first quarter. Parallel Advisors LLC now owns 12,316 shares of the oilfield services company's stock valued at $312,000 after acquiring an additional 2,467 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Halliburton by 10.6% in the first quarter. Rhumbline Advisers now owns 1,724,112 shares of the oilfield services company's stock valued at $43,741,000 after acquiring an additional 165,149 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Halliburton Stock Up 1.9%

Shares of NYSE:HAL opened at $25.14 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 2.00. The company has a market cap of $21.43 billion, a PE ratio of 11.75 and a beta of 1.10. Halliburton Company has a 52 week low of $18.72 and a 52 week high of $32.57. The firm has a 50 day simple moving average of $22.15 and a 200 day simple moving average of $21.82.

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

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Wednesday, September 3rd. Halliburton's dividend payout ratio is 31.78%.

Wall Street Analyst Weigh In

HAL has been the subject of several recent analyst reports. Melius Research initiated coverage on shares of Halliburton in a report on Wednesday, August 20th. They issued a "buy" rating and a $41.00 price objective for the company. Wells Fargo & Company cut their target price on shares of Halliburton from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Melius began coverage on shares of Halliburton in a research note on Wednesday, August 20th. They set a "buy" rating and a $41.00 target price for the company. Barclays cut their target price 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. Finally, 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 note on Wednesday, July 23rd. Thirteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Halliburton currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.37.

Halliburton Company 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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