Pallas Capital Advisors LLC Increases Stock Position in Halliburton Company $HAL

Key Points

• Pallas Capital Advisors LLC increased its holdings in Halliburton Company by 135.0% in the second quarter, acquiring an additional 30,224 shares for a total of 52,613 shares valued at over $1 million.
• Several hedge funds made significant changes to their investments in Halliburton, with Charles Schwab Investment Management notably boosting its stake by 450.9%, now holding nearly 30 million shares worth about $759 million.
• Halliburton recently declared a quarterly dividend of $0.17, reflecting a 3.0% yield with a payout ratio of 31.78%.

Pallas Capital Advisors LLC boosted its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 135.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 52,613 shares of the oilfield services company's stock after purchasing an additional 30,224 shares during the period. Pallas Capital Advisors LLC's holdings in Halliburton were worth $1,072,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mascagni Wealth Management Inc. acquired a new position in Halliburton in the 4th quarter valued at about $28,000. Stone House Investment Management LLC purchased a new position in shares of Halliburton in the 1st quarter valued at approximately $30,000. Hexagon Capital Partners LLC increased its holdings 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 valued at $36,000 after purchasing an additional 656 shares during the period. Vermillion Wealth Management Inc. purchased a new stake in shares of Halliburton during the fourth quarter worth approximately $39,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Halliburton during the first quarter worth $37,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HAL has been the topic of several recent research reports. Stifel Nicolaus dropped their price objective on shares of Halliburton from $31.00 to $29.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Barclays dropped their price target on shares of Halliburton from $26.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 23rd. Melius began coverage on shares of Halliburton in a research report on Wednesday, August 20th. They issued a "buy" rating and a $41.00 price objective for the company. Wells Fargo & Company lowered their price objective on Halliburton from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Finally, Susquehanna cut 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. Thirteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $31.37.

Halliburton Price Performance

HAL stock traded up $0.14 during trading on Monday, reaching $22.65. 13,440,872 shares of the company were exchanged, compared to its average volume of 10,844,546. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 2.00. The stock's 50 day moving average price is $21.88 and its 200 day moving average price is $21.82. Halliburton Company has a 52-week low of $18.72 and a 52-week high of $32.57. The company has a market cap of $19.31 billion, a P/E ratio of 10.58 and a beta of 1.10.

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, meeting analysts' consensus estimates of $0.55. The company had revenue of $5.51 billion during 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 for the quarter was down 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.80 EPS. As a group, analysts predict that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

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