Pzena Investment Management LLC Purchases 2,142,939 Shares of Halliburton Company $HAL

Pzena Investment Management LLC raised its position in Halliburton Company (NYSE:HAL) by 134.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 3,734,069 shares of the oilfield services company’s stock after buying an additional 2,142,939 shares during the period. Pzena Investment Management LLC owned about 0.43% of Halliburton worth $76,100,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in HAL. Stone House Investment Management LLC bought a new position in shares of Halliburton in the 1st quarter worth $30,000. Hexagon Capital Partners LLC boosted its position in shares of 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 purchasing an additional 656 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Halliburton in the 1st quarter worth $37,000. Bartlett & CO. Wealth Management LLC boosted its position in shares of Halliburton by 109.5% in the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 1,900 shares of the oilfield services company’s stock worth $39,000 after purchasing an additional 993 shares during the last quarter. Finally, McIlrath & Eck LLC boosted its position in shares of Halliburton by 756.2% in the 1st quarter. McIlrath & Eck LLC now owns 2,132 shares of the oilfield services company’s stock worth $54,000 after purchasing an additional 1,883 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HAL has been the topic of several recent research reports. The Goldman Sachs Group raised their price target on Halliburton from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Royal Bank Of Canada raised their price objective on Halliburton from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday. Melius Research initiated coverage on Halliburton in a research note on Wednesday, August 20th. They set a “buy” rating and a $41.00 price objective on the stock. Barclays dropped their price objective on Halliburton from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 23rd. Finally, Zephirin Group raised their price objective on Halliburton from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.11.

Halliburton Stock Performance

HAL opened at $22.01 on Monday. The business’s 50-day moving average price is $22.53 and its two-hundred day moving average price is $21.74. Halliburton Company has a 1 year low of $18.72 and a 1 year high of $32.57. The company has a market capitalization of $18.76 billion, a price-to-earnings ratio of 10.28 and a beta of 1.02. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.00 and a quick ratio of 1.47.

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, meeting the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter last year, the business posted $0.80 EPS. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. Equities analysts expect that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 3.1%. Halliburton’s dividend payout ratio (DPR) is currently 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.