Ieq Capital LLC Has $4.21 Million Stake in Halliburton Company $HAL

Key Points

• Ieq Capital LLC has increased its holdings in Halliburton by 223.3%, acquiring an additional 114,635 shares, bringing its total to 165,965 shares valued at $4,211,000.
• Several institutional investors have also made significant moves, including Charles Schwab Investment Management, which boosted its stake by 450.9% to approximately $759.6 million.
• Halliburton reported quarterly earnings of $0.55 per share, meeting consensus estimates, while its revenue was $5.51 billion, slightly exceeding expectations.

Ieq Capital LLC grew its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 223.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 165,965 shares of the oilfield services company's stock after purchasing an additional 114,635 shares during the period. Ieq Capital LLC's holdings in Halliburton were worth $4,211,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in HAL. Mascagni Wealth Management Inc. purchased a new stake in shares of Halliburton during the fourth quarter worth about $28,000. Stone House Investment Management LLC acquired a new stake in shares of Halliburton in the first quarter valued at $30,000. Hexagon Capital Partners LLC grew its stake in Halliburton by 87.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company's stock worth $36,000 after purchasing an additional 656 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in Halliburton during the 1st quarter worth about $37,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Halliburton in the 4th quarter valued at about $39,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Stock Down 4.2%

Shares of NYSE HAL traded down $0.94 during mid-day trading on Wednesday, reaching $21.59. The company had a trading volume of 7,863,167 shares, compared to its average volume of 13,494,084. The stock has a market capitalization of $18.40 billion, a PE ratio of 10.10 and a beta of 1.10. The stock's 50 day moving average is $21.67 and its 200-day moving average is $22.19. Halliburton Company has a twelve month low of $18.72 and a twelve month high of $32.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 2.00.

Halliburton (NYSE:HAL - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.43 billion. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.The firm's revenue was down 5.5% compared to the same quarter last year. During the same period last year, the business posted $0.80 earnings per share. As a group, equities analysts anticipate that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Halliburton's dividend payout ratio is presently 31.78%.

Analyst Ratings Changes

A number of research firms recently weighed in on HAL. Stifel Nicolaus lowered 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. Morgan Stanley reduced their target price on shares of Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. UBS Group increased their price objective on shares of Halliburton from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Barclays dropped 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 report on Wednesday, July 23rd. Finally, Melius began coverage on shares of Halliburton in a research report on Wednesday, August 20th. They issued a "buy" rating and a $41.00 price objective for the company. Fourteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $32.05.

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.