McElhenny Sheffield Capital Management LLC Buys New Holdings in Halliburton Company $HAL

Key Points

• McElhenny Sheffield Capital Management LLC acquired a new stake in Halliburton Company, buying 34,000 shares valued at approximately $693,000.
• Institutional investors currently own 85.23% of Halliburton's stock, highlighting significant interest from hedge funds.
• Halliburton reported earnings of $0.55 per share for the last quarter, meeting analysts' expectations, while its quarterly revenue was down 5.5% compared to the previous year.

McElhenny Sheffield Capital Management LLC bought a new stake in Halliburton Company (NYSE:HAL - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 34,000 shares of the oilfield services company's stock, valued at approximately $693,000.

Several other hedge funds have also bought and sold shares of HAL. Charles Schwab Investment Management Inc. raised its holdings in Halliburton by 450.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company's stock valued at $759,623,000 after acquiring an additional 24,506,472 shares during the period. AQR Capital Management LLC raised its holdings in Halliburton by 217.4% in the 1st quarter. AQR Capital Management LLC now owns 4,641,111 shares of the oilfield services company's stock valued at $116,770,000 after acquiring an additional 3,178,746 shares during the period. Nuveen LLC bought a new position in Halliburton in the 1st quarter valued at about $72,637,000. Assenagon Asset Management S.A. raised its holdings in Halliburton by 292.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,807,084 shares of the oilfield services company's stock valued at $57,208,000 after acquiring an additional 2,091,872 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Halliburton by 121.8% in the 1st quarter. Victory Capital Management Inc. now owns 3,306,224 shares of the oilfield services company's stock valued at $83,879,000 after acquiring an additional 1,815,357 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stifel Nicolaus lowered their price target 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. Susquehanna lowered their price target on shares of Halliburton from $30.00 to $27.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Melius Research assumed coverage on shares of Halliburton in a report on Wednesday, August 20th. They issued a "buy" rating and a $41.00 price target on the stock. Royal Bank Of Canada lowered their target price on shares of Halliburton from $28.00 to $24.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 23rd. Finally, UBS Group raised their target price on shares of Halliburton from $21.00 to $23.00 and gave the stock a "neutral" rating in a report on Monday. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Halliburton currently has a consensus rating of "Moderate Buy" and an average target price of $31.30.

Halliburton Stock Performance

Shares of NYSE:HAL opened at $23.93 on Thursday. The company's 50 day simple moving average is $22.50 and its 200 day simple moving average is $21.83. The stock has a market capitalization of $20.40 billion, a price-to-earnings ratio of 11.18 and a beta of 1.02. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.00 and a quick ratio of 1.47. Halliburton Company has a 1 year low of $18.72 and a 1 year high of $32.57.

Halliburton (NYSE:HAL - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.43 billion. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The firm's quarterly revenue was down 5.5% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. As a group, research analysts predict that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, September 3rd. Halliburton's dividend payout ratio (DPR) is 31.78%.

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.

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