Advisors Asset Management Inc. Has $2.58 Million Holdings in Halliburton Company $HAL

Key Points

• Advisors Asset Management Inc. reduced its holdings in Halliburton by 13.0%, now owning 101,829 shares valued at approximately $2.58 million as of the end of the most recent quarter.
• Halliburton's stock has seen a price target reduction from multiple analysts, with a consensus target price set at $32.05 and ratings ranging from "Buy" to "Hold".
• The company declared a quarterly dividend of $0.17 per share, which represents an annual yield of 3.1% and will be paid to shareholders on September 24th.

Advisors Asset Management Inc. lowered its position in Halliburton Company (NYSE:HAL - Free Report) by 13.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,829 shares of the oilfield services company's stock after selling 15,156 shares during the period. Advisors Asset Management Inc.'s holdings in Halliburton were worth $2,583,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Perbak Capital Partners LLP bought a new position in Halliburton in the 1st quarter valued at $366,000. EP Wealth Advisors LLC increased its stake in shares of Halliburton by 58.5% in the first quarter. EP Wealth Advisors LLC now owns 18,515 shares of the oilfield services company's stock valued at $470,000 after buying an additional 6,835 shares in the last quarter. Focus Partners Advisor Solutions LLC acquired a new position in Halliburton during the 1st quarter worth about $435,000. Energy Income Partners LLC grew its holdings in Halliburton by 28.4% during the 1st quarter. Energy Income Partners LLC now owns 554,372 shares of the oilfield services company's stock worth $14,064,000 after acquiring an additional 122,519 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. acquired a new stake in Halliburton in the 1st quarter valued at about $307,000. 85.23% of the stock is currently owned by institutional investors.

Halliburton Trading Down 0.3%

NYSE HAL traded down $0.06 during trading on Friday, reaching $22.25. 6,732,274 shares of the stock traded hands, compared to its average volume of 9,990,366. Halliburton Company has a fifty-two week low of $18.72 and a fifty-two week high of $32.57. The company has a quick ratio of 1.47, a current ratio of 2.00 and a debt-to-equity ratio of 0.68. The firm has a market cap of $18.97 billion, a price-to-earnings ratio of 10.40 and a beta of 1.10. The stock's 50-day moving average price is $21.85 and its 200 day moving average price is $21.98.

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, hitting analysts' consensus estimates of $0.55. The company had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.43 billion. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The business's quarterly revenue was down 5.5% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. Analysts predict that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Investors 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 currently 31.78%.

Analysts Set New Price Targets

Several research firms have recently commented on HAL. UBS Group increased their price target on shares of Halliburton from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Stifel Nicolaus lowered their target price on Halliburton from $31.00 to $29.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Piper Sandler lowered Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price target on the stock. in a research note on Monday, July 28th. Melius Research began coverage on Halliburton in a research report on Wednesday, August 20th. They issued a "buy" rating and a $41.00 price objective for the company. Finally, Barclays cut their target price 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. Fourteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $32.05.

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.