Legal Advantage Investments Inc. Invests $340,000 in Halliburton (NYSE:HAL)

Legal Advantage Investments Inc. bought a new position in shares of Halliburton (NYSE:HAL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,500 shares of the oilfield services company’s stock, valued at approximately $340,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Cary Street Partners Asset Management LLC lifted its position in Halliburton by 56.5% in the third quarter. Cary Street Partners Asset Management LLC now owns 157,085 shares of the oilfield services company’s stock valued at $4,563,000 after purchasing an additional 56,707 shares during the period. Canada Pension Plan Investment Board increased its holdings in Halliburton by 146.0% in the second quarter. Canada Pension Plan Investment Board now owns 842,355 shares of the oilfield services company’s stock valued at $28,455,000 after buying an additional 500,000 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Halliburton by 105.2% in the second quarter. Mackenzie Financial Corp now owns 186,961 shares of the oilfield services company’s stock valued at $6,316,000 after buying an additional 95,864 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Halliburton by 23.1% in the third quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock valued at $487,522,000 after buying an additional 3,150,986 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in Halliburton by 2,418.9% in the third quarter. Quest Partners LLC now owns 78,387 shares of the oilfield services company’s stock valued at $2,277,000 after buying an additional 75,275 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Trading Up 2.3 %

HAL stock opened at $29.96 on Tuesday. The company has a market cap of $26.32 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 3.76 and a beta of 1.91. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. The business has a fifty day simple moving average of $28.94 and a 200-day simple moving average of $30.11. Halliburton has a 52 week low of $25.51 and a 52 week high of $41.56.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 EPS 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 analyst estimates of $5.83 billion. During the same quarter in the previous year, the company earned $0.79 earnings per share. The company’s quarterly revenue was down 1.8% on a year-over-year basis. On average, equities research analysts expect that Halliburton will post 2.99 EPS for the current year.

Halliburton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Investors of record on Wednesday, December 4th were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, December 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.27%. Halliburton’s dividend payout ratio (DPR) is 23.69%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HAL. Susquehanna dropped their target price on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating for the company in a report on Friday, November 8th. Barclays reaffirmed an “equal weight” rating and issued a $33.00 target price (down from $43.00) on shares of Halliburton in a report on Wednesday, December 18th. Bank of America dropped their target price on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, October 14th. Evercore ISI dropped their price objective on shares of Halliburton from $43.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, January 15th. Finally, Piper Sandler began coverage on shares of Halliburton in a research note on Thursday, December 19th. They set an “overweight” rating and a $36.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.26.

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.