Qsemble Capital Management LP Takes Position in Halliburton (NYSE:HAL)

Qsemble Capital Management LP purchased a new position in Halliburton (NYSE:HAL) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 168,999 shares of the oilfield services company’s stock, valued at approximately $4,909,000. Halliburton makes up about 0.9% of Qsemble Capital Management LP’s holdings, making the stock its 16th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Country Trust Bank bought a new position in shares of Halliburton during the third quarter valued at $36,000. Bruce G. Allen Investments LLC grew its holdings in shares of Halliburton by 274.9% during the second quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock valued at $38,000 after buying an additional 822 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Halliburton during the third quarter valued at approximately $44,000. Venturi Wealth Management LLC raised its holdings in Halliburton by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after acquiring an additional 412 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in Halliburton by 28.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock valued at $51,000 after purchasing an additional 393 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Halliburton Price Performance

Shares of HAL stock traded up $0.05 on Monday, hitting $31.99. 2,022,477 shares of the stock traded hands, compared to its average volume of 8,093,065. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62. Halliburton has a 52 week low of $27.26 and a 52 week high of $41.56. The firm has a 50 day simple moving average of $29.45 and a two-hundred day simple moving average of $31.97. The firm has a market cap of $28.10 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 3.93 and a beta of 1.89.

Halliburton (NYSE:HAL) last posted its quarterly earnings results 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 net margin of 11.04% and a return on equity of 28.33%. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. During the same period in the prior year, the business earned $0.79 earnings per share. Halliburton’s revenue was down 1.8% compared to the same quarter last year. As a group, equities research analysts predict that Halliburton will post 3.01 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, December 4th. Halliburton’s dividend payout ratio (DPR) is currently 23.69%.

Analyst Upgrades and Downgrades

HAL has been the topic of a number of research analyst reports. Dbs Bank initiated coverage on Halliburton in a report on Wednesday, September 18th. They set a “buy” rating and a $45.00 price target on the stock. BMO Capital Markets reduced their price target on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday, October 10th. Stifel Nicolaus lowered their price objective on shares of Halliburton from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Bank of America cut their target price on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Susquehanna lowered their price target on Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.74.

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.