NorthRock Partners LLC Acquires New Holdings in Halliburton Company $HAL

Key Points

• NorthRock Partners LLC has acquired a new position in Halliburton, purchasing 27,352 shares valued at approximately $557,000.
• Recently, several institutional investors, including Charles Schwab Investment Management, have dramatically increased their stakes in Halliburton, highlighting strong institutional interest in the company.
• Halliburton's quarterly earnings report showed $0.55 earnings per share and a revenue of $5.51 billion, slightly exceeding analyst expectations despite a year-over-year decline.

NorthRock Partners LLC bought a new position in Halliburton Company (NYSE:HAL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 27,352 shares of the oilfield services company's stock, valued at approximately $557,000.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Halliburton by 450.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company's stock worth $759,623,000 after buying an additional 24,506,472 shares during the period. Invesco Ltd. raised its stake in Halliburton by 7.3% during the 1st quarter. Invesco Ltd. now owns 10,813,905 shares of the oilfield services company's stock valued at $274,349,000 after acquiring an additional 731,105 shares in the last quarter. LSV Asset Management boosted its position in Halliburton by 3.3% during the 1st quarter. LSV Asset Management now owns 6,113,044 shares of the oilfield services company's stock worth $155,088,000 after acquiring an additional 193,022 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Halliburton by 5.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,279,815 shares of the oilfield services company's stock worth $133,949,000 after acquiring an additional 282,492 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Halliburton by 217.4% in the first quarter. AQR Capital Management LLC now owns 4,641,111 shares of the oilfield services company's stock worth $116,770,000 after purchasing an additional 3,178,746 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Halliburton from $28.00 to $26.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Stifel Nicolaus dropped their price target on shares of Halliburton from $31.00 to $29.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Barclays reduced their price target on shares of Halliburton from $22.00 to $20.00 and set an "equal weight" rating for the company in a research note on Tuesday. The Goldman Sachs Group raised their price objective 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. Finally, UBS Group upped their target price on Halliburton from $21.00 to $23.00 and gave the stock a "neutral" rating in a research report on Monday, October 6th. Thirteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Halliburton presently has an average rating of "Moderate Buy" and a consensus target price of $30.61.

Halliburton Stock Down 0.4%

NYSE HAL opened at $22.36 on Thursday. Halliburton Company has a 12 month low of $18.72 and a 12 month high of $32.57. The company has a market capitalization of $19.06 billion, a P/E ratio of 10.45 and a beta of 1.02. The company's 50 day simple moving average is $22.59 and its 200 day simple moving average is $21.73. 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 posted its quarterly earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share (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 firm had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the previous year, the business posted $0.80 earnings per share. The firm's quarterly revenue was down 5.5% compared to the same quarter last year. Equities research analysts expect that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The business also recently announced 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. This represents a $0.68 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, September 3rd. Halliburton's dividend payout ratio is currently 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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