MBB Public Markets I LLC Acquires New Position in Halliburton Company $HAL

Key Points

• MBB Public Markets I LLC acquired 12,091 shares of Halliburton, valued at approximately $307,000, as part of its new position in the company during the first quarter.
• Halliburton reported a quarterly earnings per share of $0.55, meeting analyst expectations despite a 5.5% decline in revenue compared to the previous year.
• The company recently announced a quarterly dividend of $0.17 per share, with an ex-dividend date of September 3rd, representing a yield of 3.0%.

MBB Public Markets I LLC acquired a new stake in Halliburton Company (NYSE:HAL - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 12,091 shares of the oilfield services company's stock, valued at approximately $307,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HAL. Mascagni Wealth Management Inc. bought a new stake in Halliburton in the 4th quarter valued at about $28,000. Stone House Investment Management LLC purchased a new stake in Halliburton during the 1st quarter worth about $30,000. Hexagon Capital Partners LLC lifted its holdings 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. purchased a new stake in Halliburton during the 4th quarter worth about $39,000. 85.23% of the stock is currently owned by institutional investors.

Halliburton Stock Performance

NYSE:HAL opened at $22.59 on Thursday. The business's 50-day moving average price is $21.82 and its two-hundred day moving average price is $22.04. Halliburton Company has a twelve month low of $18.72 and a twelve month high of $32.57. The stock has a market cap of $19.26 billion, a P/E ratio of 10.56 and a beta of 1.10. The company has a quick ratio of 1.47, a current ratio of 2.00 and a debt-to-equity ratio of 0.68.

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 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 firm had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.43 billion. During the same quarter last year, the firm posted $0.80 EPS. The company's revenue was down 5.5% compared to the same quarter last year. As a group, equities analysts predict that Halliburton Company will post 2.64 EPS 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 3.0%. Halliburton's dividend payout ratio is 31.78%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HAL shares. Royal Bank Of Canada dropped their price objective on Halliburton from $28.00 to $24.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 23rd. Susquehanna dropped their price objective on Halliburton from $30.00 to $27.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Melius Research started coverage on Halliburton in a report on Wednesday, August 20th. They set a "buy" rating and a $41.00 price objective on the stock. Barclays dropped their price objective on Halliburton from $26.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 23rd. Finally, Piper Sandler cut Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price target on the stock. in a report on Monday, July 28th. Fourteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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