Jacobs Levy Equity Management Inc. Takes $35.61 Million Position in Halliburton Company $HAL

Key Points

• Jacobs Levy Equity Management Inc. has invested approximately $35.61 million in Halliburton Company, acquiring over 1.4 million shares, representing about 0.16% of the company's total stock.
• Halliburton has recently announced a quarterly dividend of $0.17 per share, equating to an annualized yield of 3.1% and a payout ratio of 31.78%.
• The company's stock has seen a decrease of 1.7% in value, with current trading at $22.09, while the consensus price target from analysts stands at $32.05, indicating potential upside.

Jacobs Levy Equity Management Inc. purchased a new stake in shares of Halliburton Company (NYSE:HAL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,403,525 shares of the oilfield services company's stock, valued at approximately $35,607,000. Jacobs Levy Equity Management Inc. owned approximately 0.16% of Halliburton at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its position in Halliburton by 3.0% in the first quarter. Alliancebernstein L.P. now owns 1,157,998 shares of the oilfield services company's stock worth $29,378,000 after buying an additional 33,460 shares during the period. Banque Transatlantique SA acquired a new stake in Halliburton in the first quarter worth $79,000. AQR Capital Management LLC increased its position in Halliburton by 217.4% in the first quarter. AQR Capital Management LLC now owns 4,641,111 shares of the oilfield services company's stock worth $116,770,000 after buying an additional 3,178,746 shares during the period. Perbak Capital Partners LLP acquired a new stake in Halliburton in the first quarter worth $366,000. Finally, EP Wealth Advisors LLC increased its position in Halliburton by 58.5% in the first quarter. EP Wealth Advisors LLC now owns 18,515 shares of the oilfield services company's stock worth $470,000 after buying an additional 6,835 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank Of Canada dropped their target price on Halliburton from $28.00 to $24.00 and set a "sector perform" rating on the stock in a research report on Wednesday, July 23rd. Morgan Stanley dropped their target price on Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Melius began coverage on Halliburton in a research note on Wednesday, August 20th. They issued a "buy" rating and a $41.00 price target for the company. UBS Group increased their price target on Halliburton from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company decreased their price target on Halliburton from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Fourteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.05.

Halliburton Price Performance

HAL stock traded down $0.16 during trading hours on Thursday, hitting $22.45. 3,696,133 shares of the stock traded hands, compared to its average volume of 13,420,019. The stock has a 50-day simple moving average of $21.82 and a 200 day simple moving average of $22.04. Halliburton Company has a one year low of $18.72 and a one year high of $32.57. The company has a market cap of $19.14 billion, a P/E ratio of 10.49 and a beta of 1.10. The company has a current ratio of 2.00, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68.

Halliburton (NYSE:HAL - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share for the quarter, meeting 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 quarter last year, the business posted $0.80 earnings per share. The company's quarterly revenue was down 5.5% on a year-over-year basis. Equities analysts forecast that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, September 3rd. Halliburton's dividend payout ratio is currently 31.78%.

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.