Longfellow Investment Management Co. LLC Acquires Shares of 16,509 Halliburton Company (NYSE:HAL)

Key Points

• Longfellow Investment Management Co. LLC has acquired a new position in Halliburton Company, investing approximately $419,000 for 16,509 shares in the first quarter.
• Halliburton reported a revenue of $5.51 billion for the last quarter, meeting analyst estimates, although this shows a 5.5% decline compared to the same quarter last year.
• The company declared a quarterly dividend of $0.17 per share, which represents a 3.3% annual yield and a dividend payout ratio of 31.78%.

Longfellow Investment Management Co. LLC bought a new stake in shares of Halliburton Company (NYSE:HAL - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 16,509 shares of the oilfield services company's stock, valued at approximately $419,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mascagni Wealth Management Inc. acquired a new stake in shares of Halliburton in the 4th quarter worth approximately $28,000. Hexagon Capital Partners LLC lifted its stake in shares of Halliburton by 87.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company's stock worth $36,000 after acquiring an additional 656 shares during the period. Vermillion Wealth Management Inc. acquired a new stake in shares of Halliburton in the 4th quarter worth approximately $39,000. Zions Bancorporation National Association UT acquired a new stake in shares of Halliburton in the 1st quarter worth approximately $37,000. Finally, Versant Capital Management Inc lifted its stake in shares of Halliburton by 830.5% in the 1st quarter. Versant Capital Management Inc now owns 2,047 shares of the oilfield services company's stock worth $52,000 after acquiring an additional 1,827 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Halliburton Trading Up 0.9%

Shares of HAL stock traded up $0.19 during trading hours on Wednesday, reaching $21.16. 9,058,379 shares of the stock traded hands, compared to its average volume of 14,991,138. Halliburton Company has a 1-year low of $18.72 and a 1-year high of $32.57. The business has a fifty day moving average price of $21.63 and a 200 day moving average price of $22.63. 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 firm has a market capitalization of $18.04 billion, a PE ratio of 9.89, a PEG ratio of 3.67 and a beta of 1.12.

Halliburton (NYSE:HAL - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share (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 business had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The firm's 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 EPS for the current year.

Halliburton Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 3.2%. Halliburton's dividend payout ratio is currently 31.78%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on HAL shares. Piper Sandler lowered shares of Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price target for the company. in a research note on Monday, July 28th. Royal Bank Of Canada reduced their price target on shares of Halliburton from $28.00 to $24.00 and set a "sector perform" rating for the company in a research note on Wednesday, July 23rd. Wells Fargo & Company reduced their price target 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. Stifel Nicolaus reduced their price target on shares of Halliburton from $31.00 to $29.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Finally, Susquehanna reduced their price target 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. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

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.