Petrus Trust Company LTA Purchases 13,031 Shares of Halliburton Company $HAL

Key Points

• Petrus Trust Company LTA has increased its holdings in Halliburton by 93.1%, now owning 27,026 shares valued at approximately $686,000.
• Halliburton reported a quarterly EPS of $0.55, matching analysts' expectations, but experienced a revenue decline of 5.5% compared to the same period last year.
• Recent analyst ratings for Halliburton include a new "buy" rating from Melius Research with a price target of $41.00, while Barclays reduced its target to $22.00.

Petrus Trust Company LTA increased its position in Halliburton Company (NYSE:HAL - Free Report) by 93.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,026 shares of the oilfield services company's stock after buying an additional 13,031 shares during the quarter. Petrus Trust Company LTA's holdings in Halliburton were worth $686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in HAL. Mascagni Wealth Management Inc. acquired a new position in Halliburton in the 4th quarter valued at approximately $28,000. Stone House Investment Management LLC bought a new stake in shares of Halliburton in the first quarter worth $30,000. Hexagon Capital Partners LLC increased its holdings in 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. Zions Bancorporation National Association UT bought a new position in Halliburton during the 1st quarter worth $37,000. Finally, Vermillion Wealth Management Inc. bought a new position in Halliburton during the 4th quarter worth $39,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on HAL shares. Barclays reduced their price target on Halliburton from $26.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 23rd. Susquehanna reduced their target price on Halliburton from $30.00 to $27.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Stifel Nicolaus lowered their price target on shares of Halliburton from $31.00 to $29.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Piper Sandler lowered shares of Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price objective on the stock. in a research note on Monday, July 28th. Finally, Wells Fargo & Company decreased their price objective on shares of Halliburton from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Fourteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.05.

Halliburton Trading Down 1.2%

Shares of HAL stock traded down $0.26 during trading hours on Thursday, hitting $22.34. 9,070,927 shares of the company were exchanged, compared to its average volume of 13,453,576. The company has a 50 day simple moving average of $21.82 and a two-hundred day simple moving average of $22.04. The firm has a market cap of $19.05 billion, a P/E ratio of 10.44 and a beta of 1.10. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 2.00. Halliburton Company has a fifty-two week low of $18.72 and a fifty-two week high of $32.57.

Halliburton (NYSE:HAL - Get Free Report) last issued its 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 business had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. Halliburton's revenue was down 5.5% on a year-over-year basis. Equities analysts anticipate that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, September 3rd. Halliburton's payout ratio 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.