Narwhal Capital Management Takes Position in Halliburton Company $HAL

Key Points

• Narwhal Capital Management has acquired a new stake in Halliburton Company, purchasing 16,227 shares valued at approximately $331,000 during the second quarter.
• Analysts have set new price targets for Halliburton, with a consensus rating of "Moderate Buy" and an average price target of $31.30.
• Halliburton recently announced a quarterly dividend of $0.17 per share, representing an annualized yield of 2.8% and a payout ratio of 31.78%.

Narwhal Capital Management bought a new stake in Halliburton Company (NYSE:HAL - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,227 shares of the oilfield services company's stock, valued at approximately $331,000.

Other hedge funds also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new stake in shares of Halliburton in the first quarter valued at $30,000. Hexagon Capital Partners LLC raised its holdings in shares of Halliburton by 87.4% during the first quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company's stock worth $36,000 after acquiring an additional 656 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Halliburton during the first quarter worth $37,000. Bartlett & CO. Wealth Management LLC raised its holdings in shares of Halliburton by 109.5% during the second quarter. Bartlett & CO. Wealth Management LLC now owns 1,900 shares of the oilfield services company's stock worth $39,000 after acquiring an additional 993 shares in the last quarter. Finally, McIlrath & Eck LLC raised its holdings in shares of Halliburton by 756.2% during the first quarter. McIlrath & Eck LLC now owns 2,132 shares of the oilfield services company's stock worth $54,000 after acquiring an additional 1,883 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on HAL. Zephirin Group increased their price objective on Halliburton from $27.00 to $28.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Weiss Ratings reiterated a "hold (c-)" rating on shares of Halliburton in a report on Wednesday. Melius began coverage on Halliburton in a report on Wednesday, August 20th. They set a "buy" rating and a $41.00 price objective for the company. Wells Fargo & Company cut their price objective on Halliburton from $28.00 to $26.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Finally, Barclays cut their price objective on Halliburton from $26.00 to $22.00 and set an "equal weight" rating for the company in a report on Wednesday, July 23rd. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.30.

Halliburton Trading Down 1.4%

Shares of NYSE:HAL opened at $23.93 on Thursday. The company has a market cap of $20.40 billion, a P/E ratio of 11.18 and a beta of 1.02. The stock's 50-day moving average is $22.50 and its 200-day moving average is $21.83. Halliburton Company has a 52-week low of $18.72 and a 52-week high of $32.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 2.00.

Halliburton (NYSE:HAL - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.55. The company had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.43 billion. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.The firm's revenue was down 5.5% compared to the same quarter last year. During the same period last year, the business posted $0.80 earnings per share. Equities research analysts predict that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Announces Dividend

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

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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