Robeco Institutional Asset Management B.V. Acquires 427,780 Shares of Halliburton Company $HAL

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in Halliburton by 83.9%, acquiring an additional 427,780 shares and bringing total holdings to 937,875 shares valued at approximately $19.1 million.
• Institutional investors own 85.23% of Halliburton's stock, with other significant increases from firms like Charles Schwab and AQR Capital Management, reflecting strong interest in the company.
• Halliburton reported earnings of $0.55 per share for the last quarter, aligning with analysts' expectations, and had a revenue of $5.51 billion, which was slightly above forecasts.

Robeco Institutional Asset Management B.V. lifted its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 83.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 937,875 shares of the oilfield services company's stock after buying an additional 427,780 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.11% of Halliburton worth $19,114,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in Halliburton by 450.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company's stock valued at $759,623,000 after purchasing an additional 24,506,472 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Halliburton by 217.4% in the first quarter. AQR Capital Management LLC now owns 4,641,111 shares of the oilfield services company's stock valued at $116,770,000 after buying an additional 3,178,746 shares in the last quarter. Nuveen LLC bought a new position in shares of Halliburton in the first quarter valued at $72,637,000. Assenagon Asset Management S.A. increased its holdings in Halliburton by 292.5% during the second quarter. Assenagon Asset Management S.A. now owns 2,807,084 shares of the oilfield services company's stock worth $57,208,000 after buying an additional 2,091,872 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in 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 acquiring an additional 1,815,357 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company's stock.

Halliburton Price Performance

Halliburton stock opened at $24.31 on Friday. The company has a market capitalization of $20.72 billion, a price-to-earnings ratio of 11.36 and a beta of 1.02. The company has a current ratio of 2.00, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. Halliburton Company has a 12 month low of $18.72 and a 12 month high of $32.57. The stock's 50 day moving average is $22.42 and its 200-day moving average is $21.83.

Halliburton (NYSE:HAL - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share 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 during the quarter, compared to analysts' expectations of $5.43 billion. During the same period last year, the firm posted $0.80 EPS. The firm's revenue for the quarter was down 5.5% compared to the same quarter last year. Equities research analysts expect that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.8%. Halliburton's dividend payout ratio is 31.78%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on HAL shares. UBS Group lifted their price objective on shares of Halliburton from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Susquehanna reduced their price target on Halliburton from $30.00 to $27.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Zephirin Group upped their price objective on Halliburton from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday. Piper Sandler downgraded Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 target price for the company. in a research note on Monday, July 28th. Finally, Wells Fargo & Company decreased their target price on Halliburton from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $31.20.

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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