Mitsubishi UFJ Asset Management Co. Ltd. Acquires 165,882 Shares of Halliburton Company (NYSE:HAL)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Halliburton by 11.8%, owning approximately 1.57 million shares worth about $39.89 million.
• Halliburton reported a net margin of 8.37% and revenue of $5.51 billion for the last quarter, down 5.5% year-over-year, with an earnings per share (EPS) of $0.55.
• The company declared a quarterly dividend of $0.17 per share, contributing to an annualized dividend yield of 3.3% and a payout ratio of 31.78%.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Halliburton Company (NYSE:HAL - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,572,146 shares of the oilfield services company's stock after purchasing an additional 165,882 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Halliburton worth $39,885,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Mascagni Wealth Management Inc. bought a new stake in Halliburton in the fourth quarter valued at $28,000. Hexagon Capital Partners LLC boosted 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 valued at $36,000 after purchasing an additional 656 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new stake in shares of Halliburton in the 4th quarter valued at $39,000. Versant Capital Management Inc grew its holdings 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 purchasing an additional 1,827 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new stake in shares of Halliburton in the 1st quarter worth about $57,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Halliburton Stock Performance

Shares of NYSE:HAL opened at $20.89 on Friday. 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 Company has a 1-year low of $18.72 and a 1-year high of $32.57. The stock has a market capitalization of $17.81 billion, a P/E ratio of 9.76, a P/E/G ratio of 3.62 and a beta of 1.12. The business has a 50-day moving average price of $21.59 and a two-hundred day moving average price of $22.74.

Halliburton (NYSE:HAL - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 EPS 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 quarter in the previous year, the company earned $0.80 EPS. Halliburton's revenue was down 5.5% on a year-over-year basis. Equities analysts predict that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.3%. Halliburton's dividend payout ratio is 31.78%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HAL. Piper Sandler downgraded shares of Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price target for the company. in a report on Monday, July 28th. Citigroup dropped their price objective on shares of Halliburton from $33.00 to $31.00 and set a "buy" rating for the company in a report on Thursday, April 24th. UBS Group cut their target price on shares of Halliburton from $21.00 to $20.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Susquehanna decreased their price target on Halliburton from $30.00 to $27.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Finally, The Goldman Sachs Group dropped their price target on Halliburton from $27.00 to $24.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

About Halliburton

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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