Wahed Invest LLC Acquires 1,694 Shares of Halliburton (NYSE:HAL)

Wahed Invest LLC grew its holdings in shares of Halliburton (NYSE:HAL) by 8.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,405 shares of the oilfield services company’s stock after buying an additional 1,694 shares during the quarter. Wahed Invest LLC’s holdings in Halliburton were worth $622,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stifel Financial Corp increased its stake in shares of Halliburton by 2.2% during the 3rd quarter. Stifel Financial Corp now owns 223,334 shares of the oilfield services company’s stock worth $6,488,000 after purchasing an additional 4,707 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Halliburton during the 3rd quarter worth about $1,749,000. Quantinno Capital Management LP increased its stake in shares of Halliburton by 25.5% during the 3rd quarter. Quantinno Capital Management LP now owns 69,617 shares of the oilfield services company’s stock worth $2,022,000 after purchasing an additional 14,134 shares during the last quarter. Royal London Asset Management Ltd. increased its stake in shares of Halliburton by 23.4% during the 3rd quarter. Royal London Asset Management Ltd. now owns 1,107,644 shares of the oilfield services company’s stock worth $32,177,000 after purchasing an additional 209,839 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its stake in shares of Halliburton by 52.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 84,191 shares of the oilfield services company’s stock worth $2,446,000 after purchasing an additional 29,146 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HAL. The Goldman Sachs Group lowered their price objective on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Royal Bank of Canada lowered shares of Halliburton from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $44.00 to $37.00 in a research note on Friday, September 13th. Wells Fargo & Company decreased their price target on shares of Halliburton from $46.00 to $39.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. UBS Group decreased their price target on shares of Halliburton from $41.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Dbs Bank started coverage on shares of Halliburton in a research note on Wednesday, September 18th. They issued a “buy” rating and a $45.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.74.

Halliburton Stock Performance

Shares of Halliburton stock opened at $28.78 on Friday. The company has a 50 day moving average of $29.87 and a 200-day moving average of $31.67. Halliburton has a 1-year low of $27.26 and a 1-year high of $41.56. The company has a current ratio of 2.21, a quick ratio of 1.62 and a debt-to-equity ratio of 0.74. The company has a market cap of $25.28 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 3.78 and a beta of 1.90.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. During the same period last year, the company posted $0.79 EPS. The business’s revenue was down 1.8% on a year-over-year basis. As a group, equities research analysts forecast that Halliburton will post 3 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Wednesday, December 4th. Halliburton’s dividend payout ratio (DPR) is presently 23.69%.

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.