Nordea Investment Management AB Boosts Stock Holdings in Halliburton Company $HAL

Key Points

• Nordea Investment Management AB increased its holdings in Halliburton by 7.5% in the second quarter, totaling 539,079 shares valued at approximately $11 million.
• Several other institutional investors, including V Square Quantitative Management LLC and BNP PARIBAS ASSET MANAGEMENT, also significantly boosted their stakes in Halliburton during the same period.
EPS of $0.55 and a revenue of $5.51 billion, slightly surpassing expectations despite a 5.5% decline in revenue year-over-year.

Nordea Investment Management AB grew its position in shares of Halliburton Company (NYSE:HAL - Free Report) by 7.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 539,079 shares of the oilfield services company's stock after buying an additional 37,512 shares during the quarter. Nordea Investment Management AB owned 0.06% of Halliburton worth $11,132,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC purchased a new stake in Halliburton in the second quarter worth approximately $287,000. V Square Quantitative Management LLC boosted its holdings in Halliburton by 82.1% in the second quarter. V Square Quantitative Management LLC now owns 48,900 shares of the oilfield services company's stock worth $997,000 after purchasing an additional 22,045 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Halliburton by 42.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 308,099 shares of the oilfield services company's stock worth $7,816,000 after purchasing an additional 91,791 shares during the last quarter. Perpetual Ltd boosted its holdings in Halliburton by 29.7% in the second quarter. Perpetual Ltd now owns 1,081,928 shares of the oilfield services company's stock worth $22,050,000 after purchasing an additional 248,015 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Halliburton by 33.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 159,533 shares of the oilfield services company's stock worth $4,047,000 after purchasing an additional 40,109 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HAL. Melius began coverage on shares of Halliburton in a report on Wednesday, August 20th. They issued a "buy" rating and a $41.00 target price on the stock. Melius Research assumed coverage on shares of Halliburton in a research report on Wednesday, August 20th. They issued a "buy" rating and a $41.00 price target on the stock. Susquehanna decreased their price target on shares of Halliburton from $30.00 to $27.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Bank of America increased their price target on shares of Halliburton from $24.00 to $26.00 and gave the stock a "buy" rating in a research report on Tuesday, October 14th. Finally, Citigroup reiterated a "buy" rating on shares of Halliburton in a research report on Tuesday, October 14th. Fourteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Halliburton has an average rating of "Moderate Buy" and a consensus price target of $30.26.

Halliburton Stock Up 2.0%

Shares of HAL stock opened at $22.25 on Monday. The company has a market capitalization of $18.97 billion, a price-to-earnings ratio of 10.40 and a beta of 1.02. Halliburton Company has a one year low of $18.72 and a one year high of $32.57. The company's fifty day moving average price is $22.63 and its 200-day moving average price is $21.65. 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 (NYSE:HAL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The oilfield services company reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. The firm had revenue of $5.51 billion for 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%. The company's revenue was down 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.80 EPS. Sell-side analysts expect 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. Stockholders of record on Wednesday, September 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Wednesday, September 3rd. Halliburton's dividend payout ratio (DPR) is presently 31.78%.

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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