Swiss National Bank Has $62.86 Million Position in Halliburton Company (NYSE:HAL)

Key Points

• The Swiss National Bank reduced its position in Halliburton Company by 0.7%, bringing its ownership to approximately 2.48 million shares valued at $62.86 million.
• Several large investors, including Mitsubishi UFJ Asset Management and Charles Schwab Investment Management, have significantly increased their holdings in Halliburton in the last quarter.
• Wall Street analysts have lowered target prices for Halliburton shares, with Barclays adjusting it from $26.00 to $22.00, while the company maintains a consensus rating of "Moderate Buy."

Swiss National Bank cut its position in Halliburton Company (NYSE:HAL - Free Report) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,477,700 shares of the oilfield services company's stock after selling 16,300 shares during the quarter. Swiss National Bank owned approximately 0.29% of Halliburton worth $62,859,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Partners LLC grew its stake in Halliburton by 13,675.2% in the 1st quarter. ORG Partners LLC now owns 17,219 shares of the oilfield services company's stock valued at $440,000 after buying an additional 17,094 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Halliburton by 33.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 159,533 shares of the oilfield services company's stock valued at $4,047,000 after purchasing an additional 40,109 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in Halliburton by 22.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 128,351 shares of the oilfield services company's stock valued at $3,256,000 after purchasing an additional 23,887 shares during the period. Principal Financial Group Inc. boosted its holdings in Halliburton by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 2,780,057 shares of the oilfield services company's stock valued at $70,530,000 after purchasing an additional 67,704 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Halliburton by 754.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 824,549 shares of the oilfield services company's stock valued at $20,671,000 after purchasing an additional 728,059 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Price Performance

Shares of NYSE HAL traded up $0.19 during trading on Wednesday, reaching $21.16. The company had a trading volume of 9,058,379 shares, compared to its average volume of 13,848,644. Halliburton Company has a 52 week low of $18.72 and a 52 week high of $32.57. The stock has a market cap of $18.04 billion, a PE ratio of 9.89, a PEG ratio of 3.55 and a beta of 1.12. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 2.00. The business's 50 day moving average price is $21.61 and its 200-day moving average price is $22.64.

Halliburton (NYSE:HAL - Get Free Report) last issued 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 net margin of 8.37% and a return on equity of 21.45%. The company had revenue of $5.51 billion during the quarter, compared to analysts' expectations of $5.43 billion. During the same quarter in the previous year, the company earned $0.80 EPS. Halliburton's revenue was down 5.5% on a year-over-year basis. Analysts expect that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.2%. Halliburton's dividend payout ratio is 31.78%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HAL shares. The Goldman Sachs Group reduced their price target on shares of Halliburton from $27.00 to $24.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Royal Bank Of Canada reduced their price target on shares of Halliburton from $28.00 to $24.00 and set a "sector perform" rating for the company in a report on Wednesday, July 23rd. Piper Sandler downgraded shares of Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price target for the company. in a report on Monday, July 28th. Hsbc Global Res upgraded shares of Halliburton to a "hold" rating in a research report on Wednesday, April 23rd. Finally, Morgan Stanley decreased their target price on shares of Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a research report 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $31.00.

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.