Northwestern Mutual Wealth Management Co. Increases Holdings in Halliburton Company $HAL

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in Halliburton Company by 132.1%, owning 94,007 shares valued at approximately $2.39 million.
• In the most recent quarter, Halliburton reported $5.51 billion in revenue, surpassing analysts' expectations, but showed a 5.5% decline in quarterly revenue year-over-year.
• Halliburton announced a quarterly dividend of $0.17 per share, equating to a 3.0% yield, with the ex-dividend date set for September 3rd.

Northwestern Mutual Wealth Management Co. grew its position in shares of Halliburton Company (NYSE:HAL - Free Report) by 132.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,007 shares of the oilfield services company's stock after buying an additional 53,509 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Halliburton were worth $2,385,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. bought a new position in Halliburton during the 4th quarter worth $28,000. Stone House Investment Management LLC bought a new position in shares of Halliburton in the first quarter worth $30,000. Hexagon Capital Partners LLC increased its position in shares of Halliburton by 87.4% in the first quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company's stock worth $36,000 after purchasing an additional 656 shares during the period. Vermillion Wealth Management Inc. bought a new position in shares of Halliburton in the fourth quarter worth $39,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Halliburton in the first quarter worth $37,000. Institutional investors own 85.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HAL shares. Melius Research started coverage on Halliburton in a research report on Wednesday, August 20th. They issued a "buy" rating and a $41.00 price target on the stock. Melius began coverage on Halliburton in a research report on Wednesday, August 20th. They issued a "buy" rating and a $41.00 target price on the stock. Susquehanna decreased their target price on Halliburton from $30.00 to $27.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Piper Sandler cut Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 target price on the stock. in a research report on Monday, July 28th. Finally, Morgan Stanley decreased their target price on Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Fourteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, Halliburton presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.05.

Halliburton Stock Down 3.7%

Halliburton stock traded down $0.83 during trading on Wednesday, hitting $21.70. 7,225,103 shares of the company were exchanged, compared to its average volume of 13,491,654. The business's 50 day moving average is $21.67 and its 200 day moving average is $22.19. Halliburton Company has a 52 week low of $18.72 and a 52 week high of $32.57. The company has a market capitalization of $18.50 billion, a P/E ratio of 10.14 and a beta of 1.10. 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 (NYSE:HAL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. The business had revenue of $5.51 billion for 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 business's revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.80 earnings per share. Analysts predict that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.1%. The ex-dividend date is Wednesday, September 3rd. Halliburton's dividend payout ratio (DPR) is presently 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.