Victory Capital Management Inc. Boosts Stock Holdings in Halliburton Company (NYSE:HAL)

Victory Capital Management Inc. raised its holdings in shares of Halliburton Company (NYSE:HAL) by 121.8% during the first quarter, HoldingsChannel reports. The firm owned 3,306,224 shares of the oilfield services company’s stock after purchasing an additional 1,815,357 shares during the period. Victory Capital Management Inc.’s holdings in Halliburton were worth $83,879,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of HAL. Wealthfront Advisers LLC increased its stake in Halliburton by 9.4% in the first quarter. Wealthfront Advisers LLC now owns 236,302 shares of the oilfield services company’s stock valued at $5,995,000 after purchasing an additional 20,256 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in Halliburton by 178.8% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 42,721 shares of the oilfield services company’s stock worth $1,083,000 after acquiring an additional 27,399 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of Halliburton by 8.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 6,870 shares of the oilfield services company’s stock valued at $174,000 after purchasing an additional 562 shares in the last quarter. Edgestream Partners L.P. grew its stake in Halliburton by 2,839.0% during the 1st quarter. Edgestream Partners L.P. now owns 334,953 shares of the oilfield services company’s stock worth $8,498,000 after buying an additional 323,556 shares during the last quarter. Finally, MQS Management LLC bought a new position in shares of Halliburton in the first quarter worth $846,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Stock Performance

HAL opened at $21.57 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.46 and a debt-to-equity ratio of 0.69. The company has a market cap of $18.54 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 3.36 and a beta of 1.13. Halliburton Company has a 1-year low of $18.72 and a 1-year high of $37.08. The company’s fifty day moving average price is $21.13 and its two-hundred day moving average price is $23.47.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Tuesday, April 22nd. The oilfield services company reported $0.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.60. Halliburton had a return on equity of 24.01% and a net margin of 9.31%. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.28 billion. On average, analysts expect that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Wednesday, June 4th. Halliburton’s dividend payout ratio is presently 28.45%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. The Goldman Sachs Group decreased their price objective on Halliburton from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Barclays lowered their target price on Halliburton from $29.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley lowered their target price on shares of Halliburton from $34.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Susquehanna decreased their price target on shares of Halliburton from $32.00 to $30.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company boosted their target price on shares of Halliburton from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, June 5th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.47.

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.