Kovitz Investment Group Partners LLC Has $8.21 Million Stock Holdings in Halliburton Company $HAL

Key Points

• Kovitz Investment Group Partners LLC increased its position in Halliburton Company by 149.4%, acquiring an additional 193,778 shares during the 1st quarter, bringing its total holdings to 323,516 shares worth approximately $8.2 million.
• Halliburton's stock has faced recent downgrades from various analysts, with Morgan Stanley lowering its price target from $34 to $28 and Barclays reducing it from $26 to $22, while the stock currently has a consensus rating of "Moderate Buy".
• The company announced a quarterly dividend of $0.17 per share, with an annualized yield of 3.2%, reflecting a 31.78% payout ratio.

Kovitz Investment Group Partners LLC lifted its position in shares of Halliburton Company (NYSE:HAL - Free Report) by 149.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 323,516 shares of the oilfield services company's stock after acquiring an additional 193,778 shares during the period. Kovitz Investment Group Partners LLC's holdings in Halliburton were worth $8,208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in HAL. Federated Hermes Inc. lifted its holdings in shares of Halliburton by 297.9% during the 4th quarter. Federated Hermes Inc. now owns 13,247 shares of the oilfield services company's stock worth $360,000 after acquiring an additional 9,918 shares during the period. Guggenheim Capital LLC lifted its holdings in shares of Halliburton by 1.9% during the 4th quarter. Guggenheim Capital LLC now owns 67,362 shares of the oilfield services company's stock worth $1,832,000 after acquiring an additional 1,242 shares during the period. Capital International Sarl lifted its stake in Halliburton by 21.9% in the 4th quarter. Capital International Sarl now owns 82,139 shares of the oilfield services company's stock valued at $2,233,000 after purchasing an additional 14,778 shares during the last quarter. Capital International Inc. CA lifted its stake in Halliburton by 0.7% in the 4th quarter. Capital International Inc. CA now owns 281,894 shares of the oilfield services company's stock valued at $7,665,000 after purchasing an additional 1,886 shares during the last quarter. Finally, Ossiam lifted its stake in Halliburton by 310,426.3% in the 4th quarter. Ossiam now owns 354,000 shares of the oilfield services company's stock valued at $9,625,000 after purchasing an additional 353,886 shares during the last quarter. Institutional investors own 85.23% of the company's stock.

Halliburton Trading Up 0.1%

NYSE HAL traded up $0.0290 on Wednesday, hitting $21.1390. The company's stock had a trading volume of 4,997,181 shares, compared to its average volume of 13,640,623. Halliburton Company has a 1-year low of $18.72 and a 1-year 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 company's 50-day moving average is $21.66 and its 200 day moving average is $22.46. The firm has a market cap of $18.02 billion, a PE ratio of 9.89, a PEG ratio of 3.73 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 earnings per share for the quarter, hitting the consensus estimate 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 analysts' expectations of $5.43 billion. During the same period in the prior year, the company posted $0.80 earnings per share. Halliburton's revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, analysts predict that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 3.2%. Halliburton's dividend payout ratio is 31.78%.

Wall Street Analyst Weigh In

HAL has been the subject of several research reports. Wells Fargo & Company dropped their price objective on shares of Halliburton from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Susquehanna dropped their price objective on shares of Halliburton from $30.00 to $27.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Melius Research initiated coverage on shares of Halliburton in a research note on Wednesday. They issued a "buy" rating and a $41.00 price objective for the company. UBS Group increased their price objective on shares of Halliburton from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Piper Sandler downgraded shares of Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price objective for the company. in a research note on Monday, July 28th. Fourteen research 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, Halliburton presently has an average rating of "Moderate Buy" and an average price target 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.