Exchange Traded Concepts LLC Increases Stock Holdings in Halliburton (NYSE:HAL)

Exchange Traded Concepts LLC lifted its position in Halliburton (NYSE:HAL) by 203.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,866 shares of the oilfield services company’s stock after purchasing an additional 14,668 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Halliburton were worth $635,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of HAL. HighPoint Advisor Group LLC purchased a new stake in shares of Halliburton in the fourth quarter valued at about $261,000. Nomura Holdings Inc. purchased a new position in Halliburton during the fourth quarter worth about $1,039,000. Rise Advisors LLC purchased a new position in Halliburton during the first quarter worth about $26,000. Wedmont Private Capital boosted its stake in Halliburton by 7.6% during the first quarter. Wedmont Private Capital now owns 18,401 shares of the oilfield services company’s stock worth $754,000 after buying an additional 1,294 shares during the period. Finally, Park Avenue Securities LLC boosted its stake in Halliburton by 33.5% during the first quarter. Park Avenue Securities LLC now owns 13,079 shares of the oilfield services company’s stock worth $516,000 after buying an additional 3,283 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Halliburton Stock Down 2.1 %

Shares of NYSE:HAL opened at $28.34 on Friday. The firm’s 50 day moving average price is $30.00 and its 200 day moving average price is $33.74. The stock has a market cap of $25.09 billion, a price-to-earnings ratio of 9.81, a price-to-earnings-growth ratio of 1.04 and a beta of 1.88. Halliburton has a fifty-two week low of $27.52 and a fifty-two week high of $43.83. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The company had revenue of $5.83 billion for the quarter, compared to analysts’ expectations of $5.95 billion. During the same quarter last year, the company earned $0.77 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts predict that Halliburton will post 3.13 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.40%. Halliburton’s payout ratio is currently 23.53%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Benchmark reaffirmed a “buy” rating and set a $42.00 target price on shares of Halliburton in a research note on Monday, July 22nd. StockNews.com lowered shares of Halliburton from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. UBS Group reduced their price target on shares of Halliburton from $41.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. BMO Capital Markets reduced their price target on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating on the stock in a research report on Thursday, October 10th. Finally, Bank of America reduced their price target on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.74.

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.