Tocqueville Asset Management L.P. Buys 15,269 Shares of Halliburton Company $HAL

Key Points

• Tocqueville Asset Management L.P. increased its stake in Halliburton Company by 15.5%, acquiring an additional 15,269 shares, bringing its total holdings to 113,599 shares valued at approximately $2.88 million.
• Halliburton recently announced a quarterly dividend of $0.17 per share, with a yield of 3.2%, reflecting a payout ratio of 31.78%.
• The company's latest earnings report revealed an EPS of $0.55 and revenue of $5.51 billion, slightly exceeding consensus estimates, despite a 5.5% year-over-year revenue decline.

Tocqueville Asset Management L.P. grew its stake in shares of Halliburton Company (NYSE:HAL - Free Report) by 15.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,599 shares of the oilfield services company's stock after buying an additional 15,269 shares during the period. Tocqueville Asset Management L.P.'s holdings in Halliburton were worth $2,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of HAL. Charles Schwab Investment Management Inc. grew its holdings in shares of 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. Nuveen LLC purchased a new position in shares of Halliburton in the first quarter valued at $72,637,000. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Halliburton by 15.6% in the fourth 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 purchasing an additional 2,171,722 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Halliburton by 121.8% in the first quarter. Victory Capital Management Inc. now owns 3,306,224 shares of the oilfield services company's stock valued at $83,879,000 after purchasing an additional 1,815,357 shares in the last quarter. Finally, Twinbeech Capital LP grew its holdings in shares of Halliburton by 314.1% in the fourth quarter. Twinbeech Capital LP now owns 2,044,661 shares of the oilfield services company's stock valued at $55,594,000 after purchasing an additional 1,550,920 shares in the last quarter. Institutional investors own 85.23% of the company's stock.

Halliburton Stock Performance

HAL stock opened at $21.13 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.00 and a quick ratio of 1.47. The business has a 50-day moving average price of $21.67 and a 200 day moving average price of $22.50. The company has a market capitalization of $18.02 billion, a P/E ratio of 9.87, 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.

Halliburton (NYSE:HAL - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 EPS for the quarter, hitting analysts' consensus estimates of $0.55. The business had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.43 billion. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. The firm's revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 earnings per share. As a group, equities research analysts forecast 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 given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.2%. Halliburton's payout ratio is presently 31.78%.

Analyst Upgrades and Downgrades

HAL has been the subject of a number of recent research reports. Citigroup cut their target price on shares of Halliburton from $33.00 to $31.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company dropped their price objective on shares of Halliburton from $28.00 to $26.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Royal Bank Of Canada dropped their price objective on shares of Halliburton from $28.00 to $24.00 and set a "sector perform" rating for the company in a research note on Wednesday, July 23rd. Hsbc Global Res raised shares of Halliburton to a "hold" rating in a research note on Wednesday, April 23rd. Finally, Barclays dropped their price objective on shares of Halliburton from $26.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 23rd. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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