Quarry LP Has $266,000 Position in Halliburton Company $HAL

Key Points

• Quarry LP has reduced its stock holdings in Halliburton Company by 63.4% during the first quarter, now owning 10,496 shares valued at approximately $266,000.
• Other hedge funds such as ORG Partners LLC and BNP PARIBAS ASSET MANAGEMENT have significantly increased their stakes in Halliburton, indicating strong institutional interest in the company.
• Analysts have set a consensus price target of $32.05 for Halliburton, reflecting a Moderate Buy rating from fourteen equity research analysts.

Quarry LP trimmed its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 63.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,496 shares of the oilfield services company's stock after selling 18,153 shares during the period. Quarry LP's holdings in Halliburton were worth $266,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of HAL. Charles Schwab Investment Management Inc. raised its stake 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 last quarter. Nuveen LLC bought a new stake in shares of Halliburton during the first quarter worth approximately $72,637,000. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Halliburton by 15.6% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,093,680 shares of the oilfield services company's stock worth $437,587,000 after buying an additional 2,171,722 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Halliburton by 121.8% during the first quarter. Victory Capital Management Inc. now owns 3,306,224 shares of the oilfield services company's stock worth $83,879,000 after buying an additional 1,815,357 shares during the last quarter. Finally, Twinbeech Capital LP raised its stake in shares of Halliburton by 314.1% during the fourth quarter. Twinbeech Capital LP now owns 2,044,661 shares of the oilfield services company's stock worth $55,594,000 after buying an additional 1,550,920 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HAL has been the subject of a number of analyst reports. Stifel Nicolaus decreased their price objective 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. Melius Research initiated coverage on shares of Halliburton in a report on Wednesday, August 20th. They set a "buy" rating and a $41.00 price objective for the company. Barclays decreased their price objective on shares of Halliburton from $26.00 to $22.00 and set an "equal weight" rating for the company in a report on Wednesday, July 23rd. Morgan Stanley decreased their price objective on shares of Halliburton from $34.00 to $28.00 and set an "overweight" rating for the company in a report on Friday, May 16th. 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 report on Wednesday, July 23rd. Fourteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $32.05.

Halliburton Stock Down 4.8%

HAL traded down $1.09 during trading hours on Wednesday, hitting $21.61. 12,583,002 shares of the company's stock were exchanged, compared to its average volume of 9,720,602. Halliburton Company has a 1-year low of $18.72 and a 1-year high of $32.57. The stock's 50-day moving average is $21.69 and its two-hundred day moving average is $22.19. The stock has a market cap of $18.42 billion, a price-to-earnings ratio of 10.10 and a beta of 1.10. The company has a quick ratio of 1.47, a current ratio of 2.00 and a debt-to-equity ratio of 0.68.

Halliburton (NYSE:HAL - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 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 during the quarter, compared to analysts' expectations of $5.43 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. The firm's revenue was down 5.5% on a year-over-year basis. Sell-side analysts predict that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 3.1%. Halliburton's dividend payout ratio is presently 31.78%.

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.