NorthRock Partners LLC Takes $557,000 Position in Halliburton Company $HAL

NorthRock Partners LLC purchased a new stake in Halliburton Company (NYSE:HAL) in the 2nd quarter, HoldingsChannel reports. The fund purchased 27,352 shares of the oilfield services company’s stock, valued at approximately $557,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new stake in Halliburton during the 1st quarter valued at $30,000. Hexagon Capital Partners LLC grew its holdings in shares of Halliburton by 87.4% during the first 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 stake in Halliburton in the 1st quarter worth about $37,000. Bartlett & CO. Wealth Management LLC boosted its position in Halliburton by 109.5% during the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 1,900 shares of the oilfield services company’s stock worth $39,000 after acquiring an additional 993 shares during the period. Finally, McIlrath & Eck LLC grew its stake in Halliburton by 756.2% during the 1st quarter. McIlrath & Eck LLC now owns 2,132 shares of the oilfield services company’s stock valued at $54,000 after acquiring an additional 1,883 shares in the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Halliburton Trading Down 0.4%

Halliburton stock opened at $22.36 on Thursday. Halliburton Company has a one year low of $18.72 and a one year high of $32.57. The company’s fifty day moving average price is $22.59 and its two-hundred day moving average price is $21.73. 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 company has a market capitalization of $19.06 billion, a price-to-earnings ratio of 10.45 and a beta of 1.02.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. The company had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.43 billion. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.The firm’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.80 EPS. On average, analysts forecast that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.0%. Halliburton’s dividend payout ratio (DPR) is currently 31.78%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HAL. Melius Research assumed coverage on shares of Halliburton in a research report on Wednesday, August 20th. They issued a “buy” rating and a $41.00 price target for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Halliburton in a research note on Wednesday, October 8th. Melius began coverage on Halliburton in a report on Wednesday, August 20th. They set a “buy” rating and a $41.00 price objective for the company. Zephirin Group boosted their target price on Halliburton from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Finally, Stifel Nicolaus dropped their target price on Halliburton from $31.00 to $29.00 and set a “buy” rating on the stock in a research report 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.61.

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.