National Bank of Canada FI Has $16.68 Million Stock Position in Halliburton Company (NYSE:HAL)

Key Points

• National Bank of Canada FI increased its holdings in Halliburton Company by 59.1%, acquiring an additional 244,177 shares during the first quarter, bringing its total ownership to 657,408 shares worth about $16.68 million.
• Halliburton reported earnings of $0.55 per share for the last quarter, meeting analysts' expectations, but revenue fell by 5.5% year-over-year to $5.51 billion.
• The company also declared a quarterly dividend of $0.17, leading to an annualized dividend yield of 3.3% with a payout ratio of 31.78%.

National Bank of Canada FI raised its stake in Halliburton Company (NYSE:HAL - Free Report) by 59.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 657,408 shares of the oilfield services company's stock after purchasing an additional 244,177 shares during the quarter. National Bank of Canada FI owned approximately 0.08% of Halliburton worth $16,678,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Halliburton by 450.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company's stock worth $759,623,000 after acquiring an additional 24,506,472 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Halliburton by 15.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,093,680 shares of the oilfield services company's stock worth $437,587,000 after acquiring an additional 2,171,722 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Halliburton by 121.8% during the 1st quarter. Victory Capital Management Inc. now owns 3,306,224 shares of the oilfield services company's stock worth $83,879,000 after acquiring an additional 1,815,357 shares during the period. Twinbeech Capital LP boosted its stake in shares of Halliburton by 314.1% during the 4th quarter. Twinbeech Capital LP now owns 2,044,661 shares of the oilfield services company's stock worth $55,594,000 after acquiring an additional 1,550,920 shares during the period. Finally, Freestone Grove Partners LP bought a new position in shares of Halliburton during the 4th quarter worth approximately $41,484,000. 85.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HAL. UBS Group reduced their target price on Halliburton from $21.00 to $20.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Wells Fargo & Company reduced their target price on Halliburton from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Hsbc Global Res upgraded Halliburton to a "hold" rating in a research note on Wednesday, April 23rd. Susquehanna reduced their target price on Halliburton from $30.00 to $27.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Finally, Piper Sandler downgraded Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price target for the company. in a research note on Monday, July 28th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

Halliburton Price Performance

NYSE HAL traded up $0.19 during midday trading on Wednesday, hitting $21.16. The company had a trading volume of 9,058,379 shares, compared to its average volume of 14,991,138. The company has a market capitalization of $18.04 billion, a PE ratio of 9.89, a P/E/G ratio of 3.67 and a beta of 1.12. The company has a current ratio of 2.00, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $21.63 and a 200-day moving average price of $22.63. Halliburton Company has a twelve month low of $18.72 and a twelve month 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 for the quarter, meeting the consensus estimate of $0.55. The firm had revenue of $5.51 billion during the quarter, compared to analysts' expectations of $5.43 billion. Halliburton had a return on equity of 21.45% and a net margin of 8.37%. The company's quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 EPS. As a group, analysts anticipate that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.2%. Halliburton's dividend payout ratio is presently 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.