Tejara Capital Ltd Grows Stock Position in Halliburton Company $HAL

Key Points

• Tejara Capital Ltd has increased its holdings in Halliburton by 204.0%, owning 101,550 shares after adding 68,150 shares in Q1, making Halliburton approximately 1.0% of its portfolio.
• Halliburton reported a net margin of 8.37% and revenue of $5.51 billion in its latest quarterly earnings, which was a 5.5% decline year-over-year.
• The company also announced a quarterly dividend of $0.17 per share, yielding 3.2%, with a payout ratio of 31.78%.

Tejara Capital Ltd lifted its stake in Halliburton Company (NYSE:HAL - Free Report) by 204.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,550 shares of the oilfield services company's stock after purchasing an additional 68,150 shares during the quarter. Halliburton accounts for approximately 1.0% of Tejara Capital Ltd's holdings, making the stock its 29th biggest position. Tejara Capital Ltd's holdings in Halliburton were worth $2,576,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of HAL. Federated Hermes Inc. raised its position in Halliburton by 297.9% in the 4th quarter. Federated Hermes Inc. now owns 13,247 shares of the oilfield services company's stock worth $360,000 after buying an additional 9,918 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new position in Halliburton in the 4th quarter worth about $276,000. Canada Post Corp Registered Pension Plan bought a new stake in shares of Halliburton during the 4th quarter valued at about $227,000. Guggenheim Capital LLC grew its stake in shares of Halliburton by 1.9% during the 4th quarter. Guggenheim Capital LLC now owns 67,362 shares of the oilfield services company's stock valued at $1,832,000 after purchasing an additional 1,242 shares during the period. Finally, MSH Capital Advisors LLC bought a new stake in shares of Halliburton during the 4th quarter valued at about $289,000. Hedge funds and other institutional investors own 85.23% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on HAL. Citigroup cut their price target on Halliburton from $33.00 to $31.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. UBS Group cut their price objective on Halliburton from $21.00 to $20.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Wells Fargo & Company cut their price objective on Halliburton from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. The Goldman Sachs Group cut their price objective on Halliburton from $27.00 to $24.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Stifel Nicolaus cut their price objective on Halliburton from $31.00 to $29.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Twelve analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

Halliburton Price Performance

NYSE HAL traded down $0.2270 during trading hours on Tuesday, reaching $21.1030. The company's stock had a trading volume of 7,292,688 shares, compared to its average volume of 13,684,844. The company has a market capitalization of $17.99 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 3.69 and a beta of 1.12. Halliburton Company has a 1 year low of $18.72 and a 1 year high of $32.57. The firm's 50-day moving average price is $21.68 and its 200-day moving average price is $22.47. 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 issued its quarterly earnings data on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. The business had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.43 billion. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.The company's revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS. On average, equities research analysts predict that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Halliburton's dividend payout ratio is 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.