Oppenheimer & Co. Inc. lifted its stake in Halliburton Company (NYSE:HAL) by 7.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,248 shares of the oilfield services company’s stock after purchasing an additional 3,834 shares during the period. Oppenheimer & Co. Inc.’s holdings in Halliburton were worth $2,403,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Sumitomo Mitsui Financial Group Inc. acquired a new stake in Halliburton in the first quarter valued at $100,000. Perigon Wealth Management LLC raised its stake in Halliburton by 0.8% in the first quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock valued at $101,000 after buying an additional 17 shares in the last quarter. Ledyard National Bank raised its stake in Halliburton by 6.5% in the second quarter. Ledyard National Bank now owns 2,469 shares of the oilfield services company’s stock valued at $106,000 after buying an additional 150 shares in the last quarter. Bbva Compass Bancshares Inc. raised its stake in Halliburton by 5.0% in the second quarter. Bbva Compass Bancshares Inc. now owns 2,701 shares of the oilfield services company’s stock valued at $115,000 after buying an additional 128 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. raised its stake in Halliburton by 87.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,711 shares of the oilfield services company’s stock valued at $116,000 after buying an additional 1,266 shares in the last quarter. Hedge funds and other institutional investors own 79.53% of the company’s stock.
A number of research firms have weighed in on HAL. Royal Bank Of Canada restated a “buy” rating and issued a $60.00 price target on shares of Halliburton in a research note on Thursday, July 20th. Zacks Investment Research upgraded Halliburton from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Seaport Global Securities upgraded Halliburton from a “neutral” rating to a “buy” rating and raised their price target for the company from $43.00 to $50.00 in a research note on Thursday, July 20th. Jefferies Group LLC restated a “buy” rating and issued a $69.00 price target on shares of Halliburton in a research note on Friday, May 26th. Finally, Credit Suisse Group set a $60.00 price target on Halliburton and gave the company a “buy” rating in a research note on Monday, June 5th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $58.74.
In related news, EVP Lawrence J. Pope sold 43,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total transaction of $1,705,380.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.46% of the stock is owned by company insiders.
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Shares of Halliburton Company (NYSE:HAL) opened at 40.29 on Friday. The stock’s market cap is $35.12 billion. Halliburton Company has a 52 week low of $38.18 and a 52 week high of $58.78. The stock’s 50 day moving average price is $40.63 and its 200 day moving average price is $45.49.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The company had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter last year, the business earned ($0.14) earnings per share. Halliburton’s revenue was up 29.3% compared to the same quarter last year. Equities research analysts anticipate that Halliburton Company will post $1.12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.79%. Halliburton’s dividend payout ratio is presently -423.50%.
Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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