Mutual Advisors LLC Invests $375,000 in Halliburton Company $HAL

Key Points

• Mutual Advisors LLC has invested approximately $375,000 in Halliburton Company, acquiring 16,709 shares during the second quarter.
• Several hedge funds, including Generali Asset Management and Bayforest Capital, have increased their stakes in Halliburton, indicating a positive outlook among institutional investors.
• Halliburton's latest earnings report showed a revenue of $5.51 billion, slightly exceeding analyst estimates, although it reflected a 5.5% year-over-year decline.

Mutual Advisors LLC bought a new position in shares of Halliburton Company (NYSE:HAL - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 16,709 shares of the oilfield services company's stock, valued at approximately $375,000.

Several other hedge funds have also modified their holdings of the company. Generali Asset Management SPA SGR boosted its stake in shares of Halliburton by 9.8% during the 2nd quarter. Generali Asset Management SPA SGR now owns 214,400 shares of the oilfield services company's stock worth $4,369,000 after acquiring an additional 19,096 shares in the last quarter. Bayforest Capital Ltd lifted its stake in Halliburton by 11.8% in the 2nd quarter. Bayforest Capital Ltd now owns 7,514 shares of the oilfield services company's stock valued at $153,000 after buying an additional 793 shares in the last quarter. NorthRock Partners LLC purchased a new position in Halliburton in the 2nd quarter valued at about $557,000. Atria Wealth Solutions Inc. lifted its stake in Halliburton by 5.9% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 11,358 shares of the oilfield services company's stock valued at $231,000 after buying an additional 630 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Halliburton by 310.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 33,522 shares of the oilfield services company's stock valued at $683,000 after buying an additional 25,361 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HAL shares. Stifel Nicolaus decreased their price target on shares of Halliburton from $29.00 to $27.00 and set a "buy" rating on the stock in a research note on Friday. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Halliburton in a research note on Wednesday, October 8th. Piper Sandler lowered shares of Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price target on the stock. in a research note on Monday, July 28th. Citigroup reaffirmed a "buy" rating on shares of Halliburton in a research note on Tuesday, October 14th. Finally, The Goldman Sachs Group raised their price target on shares of Halliburton from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Fourteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $30.26.

Halliburton Stock Up 1.6%

HAL stock opened at $22.63 on Tuesday. The company has a market cap of $19.30 billion, a price-to-earnings ratio of 10.58 and a beta of 1.02. 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 12 month low of $18.72 and a 12 month high of $32.57. The firm has a 50-day moving average of $22.68 and a two-hundred day moving average of $21.67.

Halliburton (NYSE:HAL - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The oilfield services company reported $0.55 EPS for the quarter, meeting analysts' consensus estimates of $0.55. The company had revenue of $5.51 billion during 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%. Halliburton's quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 EPS. As a group, analysts forecast that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd were issued a dividend of $0.17 per share. The ex-dividend date was Wednesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.0%. Halliburton's dividend payout ratio (DPR) is currently 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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