Townsend & Associates Inc lifted its stake in Halliburton Company (NYSE:HAL - Free Report) by 47.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 84,945 shares of the oilfield services company's stock after acquiring an additional 27,424 shares during the quarter. Townsend & Associates Inc's holdings in Halliburton were worth $2,155,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mascagni Wealth Management Inc. bought a new stake in Halliburton during the fourth quarter worth $28,000. Horrell Capital Management Inc. bought a new stake in shares of Halliburton in the 4th quarter valued at about $33,000. Vermillion Wealth Management Inc. bought a new stake in shares of Halliburton in the 4th quarter valued at about $39,000. Blume Capital Management Inc. lifted its stake in Halliburton by 33.3% in the 4th quarter. Blume Capital Management Inc. now owns 1,600 shares of the oilfield services company's stock valued at $44,000 after purchasing an additional 400 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in Halliburton by 830.5% during the first quarter. Versant Capital Management Inc now owns 2,047 shares of the oilfield services company's stock worth $52,000 after purchasing an additional 1,827 shares during the period. Institutional investors and hedge funds own 85.23% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on HAL shares. Wells Fargo & Company upped their price objective on Halliburton from $27.00 to $28.00 and gave the company an "overweight" rating in a research note on Thursday, June 5th. Susquehanna dropped their price target on Halliburton from $32.00 to $30.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Citigroup cut their price target on Halliburton from $33.00 to $31.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Morgan Stanley decreased their price objective on shares of Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Finally, UBS Group cut their target price on shares of Halliburton from $23.00 to $22.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $33.58.
Read Our Latest Stock Report on HAL
Halliburton Stock Performance
NYSE:HAL opened at $20.58 on Monday. The company has a market cap of $17.69 billion, a price-to-earnings ratio of 8.61, a PEG ratio of 3.21 and a beta of 1.14. Halliburton Company has a fifty-two week low of $18.72 and a fifty-two week high of $37.08. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.46 and a current ratio of 1.98. The stock has a fifty day moving average price of $20.79 and a 200-day moving average price of $23.94.
Halliburton (NYSE:HAL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The oilfield services company reported $0.60 earnings per share for the quarter, hitting the consensus estimate of $0.60. Halliburton had a net margin of 9.31% and a return on equity of 24.01%. The business had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.28 billion. As a group, equities analysts anticipate that Halliburton Company will post 2.64 EPS for the current fiscal year.
Halliburton Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Wednesday, June 4th. Halliburton's dividend payout ratio (DPR) is presently 28.45%.
About Halliburton
(
Free Report)
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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