Halliburton Company $HAL Shares Acquired by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. has increased its stake in Halliburton by 7.0%, acquiring an additional 18,598 shares, bringing its total holdings to 285,288 shares valued at approximately $7.2 million.
• Multiple institutional investors have significantly boosted their stakes in Halliburton, with Mirae Asset Global Investments Co. Ltd. increasing its ownership by a staggering 754.5%.
• Halliburton recently declared a quarterly dividend of $0.17 per share, representing an annual yield of 3.2%, with a payout ratio of 31.78%.

Resona Asset Management Co. Ltd. grew its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 285,288 shares of the oilfield services company's stock after buying an additional 18,598 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Halliburton were worth $7,224,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in HAL. Charles Schwab Investment Management Inc. raised its position in shares of Halliburton by 450.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company's stock worth $759,623,000 after purchasing an additional 24,506,472 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Halliburton by 15.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,093,680 shares of the oilfield services company's stock valued at $437,587,000 after acquiring an additional 2,171,722 shares during the period. Invesco Ltd. boosted its holdings in Halliburton by 7.3% in the 1st quarter. Invesco Ltd. now owns 10,813,905 shares of the oilfield services company's stock worth $274,349,000 after buying an additional 731,105 shares during the period. Northern Trust Corp boosted its stake in Halliburton by 16.2% in the 4th quarter. Northern Trust Corp now owns 9,184,850 shares of the oilfield services company's stock worth $249,736,000 after purchasing an additional 1,283,094 shares during the period. Finally, LSV Asset Management boosted its holdings in shares of Halliburton by 3.3% during the 1st quarter. LSV Asset Management now owns 6,113,044 shares of the oilfield services company's stock valued at $155,088,000 after purchasing an additional 193,022 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HAL shares. Wells Fargo & Company lowered their target price 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. Hsbc Global Res upgraded shares of Halliburton to a "hold" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada dropped their target price on Halliburton from $28.00 to $24.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 23rd. Stifel Nicolaus dropped their price target 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. Finally, Morgan Stanley lowered their target price on shares of Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $31.00.

Halliburton Trading Up 1.0%

Shares of HAL traded up $0.21 during mid-day trading on Monday, hitting $21.33. The company had a trading volume of 4,660,766 shares, compared to its average volume of 13,716,467. The stock has a market cap of $18.19 billion, a PE ratio of 9.95, a P/E/G ratio of 3.69 and a beta of 1.12. The business's 50-day simple moving average is $21.67 and its 200-day simple moving average is $22.50. Halliburton Company has a 1-year low of $18.72 and a 1-year 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.

Halliburton (NYSE:HAL - Get Free Report) last released its quarterly 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 return on equity of 21.45% and a net margin of 8.37%. The business had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.43 billion. During the same quarter in the previous year, the firm posted $0.80 earnings per share. The company's revenue was down 5.5% compared to the same quarter last year. Sell-side analysts forecast that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Wednesday, September 3rd. Halliburton's dividend payout ratio (DPR) is currently 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.