Mackenzie Financial Corp Grows Stock Holdings in Halliburton Company (NYSE:HAL)

Key Points

• Mackenzie Financial Corp increased its stake in Halliburton by 18.5%, acquiring an additional 18,608 shares, bringing its total holdings to 119,382 shares worth approximately $3,029,000.
• Several institutional investors, including Barrow Hanley Mewhinney & Strauss LLC and Victory Capital Management Inc., have significantly boosted their positions in Halliburton, reflecting strong institutional interest.
• Halliburton recently reported $5.51 billion in quarterly revenue and declared a dividend of $0.17 per share, yielding 3.2% for shareholders.

Mackenzie Financial Corp lifted its stake in Halliburton Company (NYSE:HAL - Free Report) by 18.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,382 shares of the oilfield services company's stock after buying an additional 18,608 shares during the quarter. Mackenzie Financial Corp's holdings in Halliburton were worth $3,029,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. ORG Partners LLC lifted its holdings in Halliburton by 13,675.2% during the first quarter. ORG Partners LLC now owns 17,219 shares of the oilfield services company's stock valued at $440,000 after purchasing an additional 17,094 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Halliburton by 33.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 159,533 shares of the oilfield services company's stock valued at $4,047,000 after purchasing an additional 40,109 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in shares of Halliburton during the 4th quarter valued at $7,236,000. Concurrent Investment Advisors LLC boosted its holdings in Halliburton by 22.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 128,351 shares of the oilfield services company's stock worth $3,256,000 after buying an additional 23,887 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Halliburton by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 2,780,057 shares of the oilfield services company's stock worth $70,530,000 after buying an additional 67,704 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Trading Up 0.4%

NYSE:HAL traded up $0.09 during midday trading on Monday, hitting $21.69. 12,082,509 shares of the company traded hands, compared to its average volume of 13,974,781. The firm has a market capitalization of $18.49 billion, a P/E ratio of 10.14, a P/E/G ratio of 3.74 and a beta of 1.12. The firm's fifty day moving average is $21.45 and its 200-day moving average is $22.98. Halliburton Company has a 12-month low of $18.72 and a 12-month high of $32.57. 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. The business had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.43 billion. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The business's revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 earnings per share. On average, sell-side analysts predict that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Wednesday, June 4th. Halliburton's dividend payout ratio is presently 31.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company dropped their price objective on Halliburton from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. UBS Group dropped their price target on Halliburton from $21.00 to $20.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Stifel Nicolaus lowered their target price on shares of Halliburton from $31.00 to $29.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Morgan Stanley cut their target price on shares of Halliburton from $34.00 to $28.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, Royal Bank Of Canada decreased their price target on shares of Halliburton from $28.00 to $24.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 23rd. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, Halliburton presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.

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.