Headlands Technologies LLC Grows Position in Halliburton Company (NYSE:HAL)

Key Points

• Headlands Technologies LLC significantly increased its stake in Halliburton by 1,899.4% during Q1, now owning 44,307 shares valued at approximately $1.12 million.
• Multiple hedge funds made substantial changes to their positions in Halliburton, with Charles Schwab Investment Management Inc. increasing its stake by 450.9%, now holding nearly 30 million shares.
• Halliburton's recent earnings report showed earnings per share of $0.55, matching estimates but reflecting a 5.5% decline in quarterly revenue year-over-year.

Headlands Technologies LLC increased its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 1,899.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,307 shares of the oilfield services company's stock after acquiring an additional 42,091 shares during the period. Headlands Technologies LLC's holdings in Halliburton were worth $1,124,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in Halliburton by 450.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company's stock worth $759,623,000 after acquiring an additional 24,506,472 shares during the period. ASR Vermogensbeheer N.V. acquired a new position in Halliburton during the first quarter worth $13,621,000. Westwood Holdings Group Inc. grew its holdings in Halliburton by 15.5% during the first quarter. Westwood Holdings Group Inc. now owns 11,078 shares of the oilfield services company's stock worth $281,000 after acquiring an additional 1,486 shares during the period. ABC Arbitrage SA acquired a new position in Halliburton during the first quarter worth $635,000. Finally, Cary Street Partners Financial LLC grew its holdings in Halliburton by 19.0% during the first quarter. Cary Street Partners Financial LLC now owns 125,972 shares of the oilfield services company's stock worth $3,196,000 after acquiring an additional 20,154 shares during the period. Institutional investors and hedge funds own 85.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on HAL shares. Piper Sandler lowered Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price objective on the stock. in a report on Monday, July 28th. Barclays lowered their target price on Halliburton from $26.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 23rd. Hsbc Global Res upgraded shares of Halliburton to a "hold" rating in a research report on Wednesday, April 23rd. Citigroup decreased their price objective on shares of Halliburton from $33.00 to $31.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, Susquehanna decreased their price objective on shares of Halliburton from $30.00 to $27.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Halliburton currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

Halliburton Trading Up 2.2%

Shares of NYSE HAL traded up $0.46 on Tuesday, reaching $20.96. 4,603,942 shares of the company traded hands, compared to its average volume of 13,835,686. Halliburton Company has a fifty-two week low of $18.72 and a fifty-two week high of $32.57. The company has a 50 day moving average of $21.60 and a 200 day moving average of $22.65. The company has a current ratio of 2.00, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $17.87 billion, a PE ratio of 9.80, a P/E/G ratio of 3.62 and a beta of 1.12.

Halliburton (NYSE:HAL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The oilfield services company reported $0.55 EPS for the quarter, meeting analysts' consensus estimates 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 the consensus estimate of $5.43 billion. During the same quarter in the prior year, the company posted $0.80 EPS. The company's quarterly revenue was down 5.5% compared to the same quarter last year. On average, equities research analysts forecast 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 was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Wednesday, June 4th. Halliburton's dividend payout ratio (DPR) is 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.