MAI Capital Management Has $1.46 Million Position in Halliburton Company $HAL

Key Points

• MAI Capital Management has increased its stake in Halliburton Company by 30.5%, owning a total of 57,641 shares worth about $1.46 million.
• Halliburton reported a quarterly earnings of $0.55 EPS, matching analysts' expectations, despite a 5.5% decrease in revenue year-over-year.
• The company announced a quarterly dividend of $0.17 per share, providing a 3.0% yield, with the payout ratio standing at 31.78%.

MAI Capital Management raised its stake in Halliburton Company (NYSE:HAL - Free Report) by 30.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,641 shares of the oilfield services company's stock after acquiring an additional 13,480 shares during the period. MAI Capital Management's holdings in Halliburton were worth $1,462,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HAL. Mascagni Wealth Management Inc. bought a new stake in shares of Halliburton during the fourth quarter valued at approximately $28,000. Stone House Investment Management LLC bought a new stake in shares of Halliburton during the first quarter valued at approximately $30,000. Hexagon Capital Partners LLC raised its holdings in shares of Halliburton by 87.4% during the first quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company's stock valued at $36,000 after buying an additional 656 shares during the last quarter. Vermillion Wealth Management Inc. bought a new stake in shares of Halliburton during the fourth quarter valued at approximately $39,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Halliburton during the first quarter valued at approximately $37,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on HAL shares. Stifel Nicolaus cut their price target on Halliburton from $31.00 to $29.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Barclays lowered their price objective on shares of Halliburton from $26.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 23rd. Melius initiated coverage on shares of Halliburton in a research report on Wednesday, August 20th. They set a "buy" rating and a $41.00 price objective on the stock. Melius Research began coverage on shares of Halliburton in a research report on Wednesday, August 20th. They set a "buy" rating and a $41.00 price objective on the stock. Finally, Susquehanna lowered 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. Fourteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $32.05.

Halliburton Stock Down 1.7%

Shares of HAL stock traded down $0.38 on Friday, hitting $22.09. The company's stock had a trading volume of 11,267,888 shares, compared to its average volume of 9,574,734. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.00 and a quick ratio of 1.47. Halliburton Company has a fifty-two week low of $18.72 and a fifty-two week high of $32.57. The firm's fifty day moving average price is $21.76 and its 200-day moving average price is $22.10. The stock has a market capitalization of $18.84 billion, a price-to-earnings ratio of 10.32 and a beta of 1.10.

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 (EPS) 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 business had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the previous year, the business earned $0.80 EPS. Halliburton's quarterly revenue was down 5.5% compared to the same quarter last year. Research analysts anticipate that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Dividend Announcement

The company also recently announced 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. 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 3.1%. Halliburton's payout ratio is currently 31.78%.

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.