Wesbanco Bank Inc. Grows Position in Halliburton Company $HAL

Key Points

• Wesbanco Bank Inc. increased its stake in Halliburton Company by 33.5% during the second quarter, owning 345,108 shares valued at approximately $7,033,000 by the end of the reporting period.
• Analysts have varying price objectives for Halliburton, with Barclays lowering it to $22.00, while Melius initiated coverage with a $41.00 price target and a "buy" rating.
• Halliburton declared a quarterly dividend of $0.17 per share, representing a 3.1% yield and a payout ratio of 31.78%.

Wesbanco Bank Inc. grew its stake in shares of Halliburton Company (NYSE:HAL - Free Report) by 33.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 345,108 shares of the oilfield services company's stock after buying an additional 86,565 shares during the period. Wesbanco Bank Inc.'s holdings in Halliburton were worth $7,033,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mascagni Wealth Management Inc. purchased a new position in Halliburton during the fourth quarter worth $28,000. Stone House Investment Management LLC purchased a new position in Halliburton during the first quarter worth $30,000. Hexagon Capital Partners LLC increased its position in Halliburton by 87.4% during the first quarter. Hexagon Capital Partners LLC now owns 1,407 shares of the oilfield services company's stock worth $36,000 after buying an additional 656 shares in the last quarter. Vermillion Wealth Management Inc. purchased a new position in Halliburton during the fourth quarter worth $39,000. Finally, Zions Bancorporation National Association UT purchased a new position in Halliburton during the first quarter worth $37,000. Hedge funds and other institutional investors own 85.23% of the company's stock.

Wall Street Analyst Weigh In

HAL has been the subject of a number of recent analyst reports. Barclays lowered their price objective on Halliburton from $26.00 to $22.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 23rd. UBS Group lifted their price objective on Halliburton from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Melius initiated coverage on Halliburton in a research report 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 report on Wednesday, July 23rd. Finally, 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 report on Wednesday, July 23rd. Fourteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $32.05.

Halliburton Price Performance

HAL stock opened at $22.25 on Friday. The stock has a 50-day moving average price of $21.85 and a two-hundred day moving average price of $21.95. Halliburton Company has a 12-month low of $18.72 and a 12-month high of $32.57. The company has a current ratio of 2.00, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. The company has a market cap of $18.97 billion, a PE ratio of 10.40 and a beta of 1.10.

Halliburton (NYSE:HAL - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, meeting 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 the consensus estimate of $5.43 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The firm's quarterly revenue was down 5.5% compared to the same quarter last year. As a group, research analysts predict that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, September 3rd. Halliburton's payout ratio is 31.78%.

Halliburton 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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