Washburn Capital Management Inc. Increases Stock Holdings in Halliburton (NYSE:HAL)

Washburn Capital Management Inc. grew its position in Halliburton (NYSE:HALGet Rating) by 164.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,985 shares of the oilfield services company’s stock after buying an additional 13,055 shares during the quarter. Halliburton accounts for approximately 0.6% of Washburn Capital Management Inc.’s holdings, making the stock its 29th biggest holding. Washburn Capital Management Inc.’s holdings in Halliburton were worth $658,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Stephens Inc. AR purchased a new stake in Halliburton during the 1st quarter worth about $288,000. King Luther Capital Management Corp increased its position in Halliburton by 103.4% during the 1st quarter. King Luther Capital Management Corp now owns 64,690 shares of the oilfield services company’s stock worth $2,450,000 after purchasing an additional 32,881 shares in the last quarter. National Asset Management Inc. purchased a new stake in Halliburton during the 1st quarter worth about $372,000. MetLife Investment Management LLC increased its position in Halliburton by 24.6% during the 1st quarter. MetLife Investment Management LLC now owns 246,340 shares of the oilfield services company’s stock worth $9,329,000 after purchasing an additional 48,573 shares in the last quarter. Finally, Wedmont Private Capital increased its position in Halliburton by 12.8% during the 1st quarter. Wedmont Private Capital now owns 11,867 shares of the oilfield services company’s stock worth $460,000 after purchasing an additional 1,351 shares in the last quarter. Hedge funds and other institutional investors own 80.60% of the company’s stock.

Halliburton Stock Down 9.8 %

Halliburton stock traded down $2.65 during midday trading on Friday, hitting $24.27. 523,854 shares of the company were exchanged, compared to its average volume of 8,370,319. The company’s fifty day moving average price is $29.05 and its 200-day moving average price is $33.84. The company has a market cap of $22.01 billion, a PE ratio of 15.34 and a beta of 2.11. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.15 and a quick ratio of 1.60. Halliburton has a fifty-two week low of $19.75 and a fifty-two week high of $43.99.

Halliburton (NYSE:HALGet Rating) last released its quarterly earnings results on Tuesday, July 19th. The oilfield services company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.45 by $0.04. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.71 billion. Halliburton had a return on equity of 19.91% and a net margin of 8.19%. Halliburton’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. On average, research analysts predict that Halliburton will post 2.01 EPS for the current fiscal year.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 7th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $0.48 annualized dividend and a yield of 1.98%. Halliburton’s dividend payout ratio is presently 30.19%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HAL shares. Morgan Stanley dropped their price objective on Halliburton from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, July 13th. Wells Fargo & Company decreased their price target on Halliburton from $42.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. Stephens decreased their price target on Halliburton to $32.00 in a research note on Friday, July 22nd. Barclays raised their price target on Halliburton from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 8th. Finally, ATB Capital raised their price target on Halliburton to $46.50 in a research note on Friday, July 22nd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.53.

Halliburton Company Profile

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Halliburton Company provides products and services to the energy industry worldwide. It operates in 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; 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; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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