TD Asset Management Inc Acquires 23,179 Shares of Halliburton Company (NYSE:HAL)

Key Points

• TD Asset Management Inc increased its stake in Halliburton Company by 6.3%, owning 393,469 shares worth about $9.98 million after purchasing an additional 23,179 shares.
• Halliburton reported $0.55 earnings per share for the last quarter, meeting analysts' expectations, with total revenue of $5.51 billion, slightly above forecasts.
• The company declared a quarterly dividend of $0.17 per share, translating to an annual yield of 3.0%, with a payout ratio currently at 31.78%.

TD Asset Management Inc lifted its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 6.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 393,469 shares of the oilfield services company's stock after buying an additional 23,179 shares during the period. TD Asset Management Inc's holdings in Halliburton were worth $9,982,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of HAL. HB Wealth Management LLC increased its stake in shares of Halliburton by 14.0% in the first quarter. HB Wealth Management LLC now owns 15,211 shares of the oilfield services company's stock valued at $386,000 after buying an additional 1,866 shares during the period. Mediolanum International Funds Ltd increased its stake in shares of Halliburton by 0.8% in 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 period. Assetmark Inc. increased its stake in shares of Halliburton by 8.9% in the first quarter. Assetmark Inc. now owns 69,211 shares of the oilfield services company's stock valued at $1,756,000 after buying an additional 5,655 shares during the period. Avantax Advisory Services Inc. grew its stake in Halliburton by 27.3% during the first quarter. Avantax Advisory Services Inc. now owns 48,993 shares of the oilfield services company's stock worth $1,243,000 after purchasing an additional 10,507 shares during the period. Finally, Montgomery Investment Management Inc. acquired a new stake in Halliburton during the first quarter worth approximately $284,000. Institutional investors and hedge funds own 85.23% of the company's stock.

Halliburton Stock Performance

Shares of NYSE:HAL traded up $0.06 during midday trading on Tuesday, reaching $21.73. 5,061,557 shares of the company traded hands, compared to its average volume of 13,912,655. The company has a quick ratio of 1.47, a current ratio of 2.00 and a debt-to-equity ratio of 0.68. Halliburton Company has a 12 month low of $18.72 and a 12 month high of $32.57. The firm has a market capitalization of $18.53 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 3.74 and a beta of 1.12. The firm's fifty day moving average price is $21.48 and its two-hundred day moving average price is $22.92.

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

Halliburton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, June 4th. Halliburton's payout ratio is 31.78%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wells Fargo & Company decreased their target price on Halliburton from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Royal Bank Of Canada cut their price target on Halliburton from $28.00 to $24.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 23rd. The Goldman Sachs Group cut their price target on Halliburton from $27.00 to $24.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Barclays cut their price target on Halliburton from $26.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 23rd. Finally, Morgan Stanley cut their price target on Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Halliburton currently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

About Halliburton

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.