Wealth Enhancement Advisory Services LLC Grows Stake in Halliburton Company $HAL

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Halliburton by 54.3%, acquiring a total of 246,224 shares valued at approximately $5.3 million.
• Halliburton reported earnings of $0.55 per share for the last quarter, matching analysts' expectations, although revenue declined by 5.5% year-over-year.
• The company declared a quarterly dividend of $0.17 per share, with an annualized dividend yield of 2.8%, reflecting a payout ratio of 31.78%.

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 54.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 246,224 shares of the oilfield services company's stock after purchasing an additional 86,691 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Halliburton were worth $5,299,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HAL. Mascagni Wealth Management Inc. purchased a new position in Halliburton during the 4th quarter valued at approximately $28,000. Stone House Investment Management LLC purchased a new position in Halliburton during the 1st quarter valued at approximately $30,000. Hexagon Capital Partners LLC grew its holdings in Halliburton by 87.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company's stock valued at $36,000 after buying an additional 656 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in Halliburton during the 1st quarter valued at approximately $37,000. Finally, Versant Capital Management Inc grew its holdings in Halliburton by 830.5% during the 1st quarter. Versant Capital Management Inc now owns 2,047 shares of the oilfield services company's stock valued at $52,000 after buying an additional 1,827 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company's stock.

Halliburton Price Performance

Shares of HAL stock opened at $24.46 on Thursday. Halliburton Company has a 52-week low of $18.72 and a 52-week high of $32.57. 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 firm has a market capitalization of $20.86 billion, a P/E ratio of 11.43 and a beta of 1.10. The stock has a 50 day moving average price of $22.00 and a 200 day moving average price of $21.85.

Halliburton (NYSE:HAL - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.55. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.The firm had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period last year, the company earned $0.80 EPS. Halliburton's quarterly revenue was down 5.5% compared to the same quarter last year. As a group, sell-side analysts predict that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Wednesday, September 3rd. Halliburton's dividend payout ratio (DPR) is currently 31.78%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. UBS Group raised their price target on Halliburton from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Melius initiated coverage on Halliburton in a research note on Wednesday, August 20th. They issued a "buy" rating and a $41.00 price objective for the company. Susquehanna lowered their price objective on Halliburton from $30.00 to $27.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Wells Fargo & Company lowered 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. Finally, Stifel Nicolaus lowered 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. Thirteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Halliburton has an average rating of "Moderate Buy" and a consensus price target of $31.37.

Halliburton Company Profile

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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