iA Global Asset Management Inc. Grows Stake in Halliburton Company $HAL

iA Global Asset Management Inc. raised its stake in Halliburton Company (NYSE:HAL) by 61.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,703 shares of the oilfield services company’s stock after purchasing an additional 41,667 shares during the quarter. iA Global Asset Management Inc.’s holdings in Halliburton were worth $2,236,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new position in Halliburton in the 1st quarter worth $30,000. Hexagon Capital Partners LLC lifted its holdings in Halliburton by 87.4% in the 1st 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. Zions Bancorporation National Association UT acquired a new stake in shares of Halliburton in the 1st quarter valued at about $37,000. CVA Family Office LLC raised its stake in shares of Halliburton by 94.8% in the 2nd quarter. CVA Family Office LLC now owns 1,882 shares of the oilfield services company’s stock valued at $38,000 after purchasing an additional 916 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC grew its position in shares of 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 valued at $39,000 after buying an additional 993 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on HAL shares. Royal Bank Of Canada raised shares of Halliburton from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, October 22nd. Stifel Nicolaus set a $32.00 target price on shares of Halliburton in a research report on Wednesday, October 22nd. Rothschild & Co Redburn initiated coverage on shares of Halliburton in a research report on Monday. They issued a “buy” rating and a $35.00 target price for the company. Citigroup restated a “buy” rating on shares of Halliburton in a research report on Tuesday, October 14th. Finally, Piper Sandler upped their target price on shares of Halliburton from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.73.

Halliburton Trading Up 1.2%

Halliburton stock opened at $27.17 on Tuesday. The firm has a 50 day simple moving average of $23.74 and a 200-day simple moving average of $22.08. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.95 and a quick ratio of 1.43. The stock has a market capitalization of $22.87 billion, a PE ratio of 17.99 and a beta of 1.02. Halliburton Company has a 12-month low of $18.72 and a 12-month high of $32.57.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, October 21st. The oilfield services company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. The business had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Halliburton had a net margin of 5.91% and a return on equity of 20.12%. The business’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the firm posted $0.73 earnings per share. As a group, equities research analysts expect that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 2.5%. Halliburton’s dividend payout ratio is currently 45.03%.

About Halliburton

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.