Parcion Private Wealth LLC Buys Shares of 11,053 Halliburton Company $HAL

Key Points

• Parcion Private Wealth LLC acquired 11,053 shares of Halliburton Company for approximately $225,000, indicating growing institutional interest in the oilfield services sector.
• Halliburton recently reported earnings of $0.58 per share, exceeding analysts' expectations, with a quarterly revenue of $5.60 billion, down 1.7% year-over-year.
• The company announced a quarterly dividend of $0.17 per share, representing an annualized yield of 2.6%, with a dividend payout ratio of 31.78%.

Parcion Private Wealth LLC purchased a new position in Halliburton Company (NYSE:HAL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,053 shares of the oilfield services company's stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Adams Natural Resources Fund Inc. increased its holdings in Halliburton by 28.4% during the second quarter. Adams Natural Resources Fund Inc. now owns 175,353 shares of the oilfield services company's stock valued at $3,574,000 after buying an additional 38,764 shares during the period. Blume Capital Management Inc. increased its holdings in shares of Halliburton by 34.7% in the 2nd quarter. Blume Capital Management Inc. now owns 2,700 shares of the oilfield services company's stock valued at $55,000 after acquiring an additional 695 shares during the period. Avidian Wealth Enterprises LLC increased its holdings in shares of Halliburton by 4.6% in the 2nd quarter. Avidian Wealth Enterprises LLC now owns 17,035 shares of the oilfield services company's stock valued at $347,000 after acquiring an additional 753 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Halliburton by 0.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 324,735 shares of the oilfield services company's stock worth $6,683,000 after acquiring an additional 894 shares in the last quarter. Finally, Townsend & Associates Inc lifted its stake in shares of Halliburton by 15.9% during the 2nd quarter. Townsend & Associates Inc now owns 98,476 shares of the oilfield services company's stock worth $2,211,000 after purchasing an additional 13,531 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

Halliburton Stock Up 4.2%

HAL stock opened at $26.30 on Thursday. The stock has a market capitalization of $22.42 billion, a PE ratio of 17.41 and a beta of 1.02. Halliburton Company has a 52 week low of $18.72 and a 52 week high of $32.57. The company has a quick ratio of 1.47, a current ratio of 2.00 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average of $22.86 and a 200 day moving average of $21.73.

Halliburton (NYSE:HAL - Get Free Report) last posted its quarterly earnings results on Tuesday, October 21st. The oilfield services company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.08. Halliburton had a net margin of 5.91% and a return on equity of 20.00%. The business had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.39 billion. During the same quarter last year, the company posted $0.73 earnings per share. The business's quarterly revenue was down 1.7% on a year-over-year basis. Sell-side analysts forecast that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd were paid a $0.17 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.6%. Halliburton's dividend payout ratio (DPR) is 31.78%.

Analyst Ratings Changes

Several equities analysts have issued reports on HAL shares. Susquehanna lifted their target price on Halliburton from $27.00 to $29.00 and gave the company a "positive" rating in a research note on Wednesday. Piper Sandler raised their price target on shares of Halliburton from $25.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday. Bank of America boosted their price objective on shares of Halliburton from $24.00 to $26.00 and gave the stock a "buy" rating in a research note on Tuesday, October 14th. Hsbc Global Res raised shares of Halliburton from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Finally, HSBC set a $30.00 price target on shares of Halliburton and gave the stock a "buy" rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $31.00.

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.

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