Concurrent Investment Advisors LLC Grows Stock Holdings in Halliburton Company $HAL

Concurrent Investment Advisors LLC raised its position in Halliburton Company (NYSE:HAL) by 20.8% during the second quarter, Holdings Channel.com reports. The fund owned 155,057 shares of the oilfield services company’s stock after purchasing an additional 26,706 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Halliburton were worth $3,160,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Halliburton by 450.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company’s stock valued at $759,623,000 after acquiring an additional 24,506,472 shares during the period. Invesco Ltd. increased its position in shares of Halliburton by 7.3% during the first quarter. Invesco Ltd. now owns 10,813,905 shares of the oilfield services company’s stock valued at $274,349,000 after buying an additional 731,105 shares during the period. LSV Asset Management increased its position in shares of Halliburton by 3.3% during the first quarter. LSV Asset Management now owns 6,113,044 shares of the oilfield services company’s stock valued at $155,088,000 after buying an additional 193,022 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Halliburton by 5.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,279,815 shares of the oilfield services company’s stock valued at $133,949,000 after buying an additional 282,492 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Halliburton by 217.4% during the first quarter. AQR Capital Management LLC now owns 4,641,111 shares of the oilfield services company’s stock valued at $116,770,000 after buying an additional 3,178,746 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HAL shares. Stifel Nicolaus reduced their price target on shares of Halliburton from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Royal Bank Of Canada upped their price objective on shares of Halliburton from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Barclays cut their price objective on shares of Halliburton from $26.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 23rd. Melius initiated coverage on shares of Halliburton in a research note on Wednesday, August 20th. They issued a “buy” rating and a $41.00 target price on the stock. Finally, The Goldman Sachs Group upped their target price on shares of Halliburton from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Thirteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.72.

Halliburton Stock Performance

Shares of NYSE HAL opened at $22.51 on Tuesday. The firm has a fifty day moving average price of $22.55 and a 200-day moving average price of $21.72. 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 stock has a market cap of $19.19 billion, a PE ratio of 10.52 and a beta of 1.02. Halliburton Company has a 1 year low of $18.72 and a 1 year high of $32.57.

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

Halliburton Dividend Announcement

The business 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. This represents a $0.68 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Wednesday, September 3rd. Halliburton’s dividend payout ratio (DPR) is presently 31.78%.

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.