Strs Ohio Makes New Investment in Halliburton Company $HAL

Key Points

• Strs Ohio has invested approximately $11.4 million in Halliburton Company by acquiring 450,000 shares in the first quarter, now owning 0.05% of the company.
• Analysts have mixed ratings for Halliburton, with targets ranging from $22.00 to $41.00, reflecting a consensus rating of "Moderate Buy".
• Halliburton has announced a quarterly dividend of $0.17 per share, which represents an annual yield of 3.1%.

Strs Ohio acquired a new position in Halliburton Company (NYSE:HAL - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 450,000 shares of the oilfield services company's stock, valued at approximately $11,416,000. Strs Ohio owned 0.05% of Halliburton at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in shares of Halliburton in the 1st quarter worth about $895,000. Belpointe Asset Management LLC purchased a new position in shares of Halliburton in the 1st quarter worth about $369,000. Intech Investment Management LLC raised its holdings in shares of Halliburton by 309.1% in the 1st quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company's stock worth $1,749,000 after purchasing an additional 52,092 shares during the period. Focus Partners Wealth raised its holdings in shares of Halliburton by 25.0% in the 1st quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company's stock worth $1,320,000 after purchasing an additional 10,408 shares during the period. Finally, Bayforest Capital Ltd raised its holdings in shares of Halliburton by 154.2% during the 1st quarter. Bayforest Capital Ltd now owns 6,721 shares of the oilfield services company's stock valued at $171,000 after buying an additional 4,077 shares during the period. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HAL has been the topic of several analyst reports. 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 target price on Halliburton from $31.00 to $29.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Melius initiated coverage on Halliburton in a report on Wednesday, August 20th. They set a "buy" rating and a $41.00 target price on the stock. Susquehanna dropped their price objective on Halliburton from $30.00 to $27.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Finally, Barclays dropped their price objective on Halliburton from $26.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 23rd. Fourteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $32.05.

Halliburton Price Performance

Shares of HAL opened at $22.25 on Friday. The firm has a market cap of $18.97 billion, a price-to-earnings ratio of 10.40 and a beta of 1.10. The stock has a 50 day moving average of $21.85 and a 200-day moving average of $21.95. 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 52 week low of $18.72 and a 52 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 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 company had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same quarter last year, the firm earned $0.80 EPS. The business's revenue was down 5.5% on a year-over-year basis. As a group, analysts forecast that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Dividend Announcement

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 given a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 3.1%. Halliburton's payout ratio 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.

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