Federated Investors Inc. PA lessened its stake in Halliburton Company (NYSE:HAL) by 6.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,355 shares of the oilfield services company’s stock after selling 2,745 shares during the period. Federated Investors Inc. PA’s holdings in Halliburton were worth $1,681,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Canada Pension Plan Investment Board raised its position in shares of Halliburton by 42.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 110,022 shares of the oilfield services company’s stock valued at $5,414,000 after acquiring an additional 32,800 shares during the last quarter. Coconut Grove Bank raised its position in shares of Halliburton by 35.5% during the 1st quarter. Coconut Grove Bank now owns 3,055 shares of the oilfield services company’s stock valued at $150,000 after acquiring an additional 800 shares during the last quarter. Advisor Partners LLC raised its position in shares of Halliburton by 8.6% during the 1st quarter. Advisor Partners LLC now owns 13,647 shares of the oilfield services company’s stock valued at $672,000 after acquiring an additional 1,083 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Halliburton during the 1st quarter valued at $304,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Halliburton by 4.0% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 311,985 shares of the oilfield services company’s stock valued at $15,353,000 after acquiring an additional 11,921 shares during the last quarter. Hedge funds and other institutional investors own 79.53% of the company’s stock.
In other Halliburton news, EVP Lawrence J. Pope sold 43,000 shares of Halliburton stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total value of $1,705,380.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.47% of the company’s stock.
HAL has been the subject of several recent research reports. UBS AG reiterated a “buy” rating and set a $70.00 target price on shares of Halliburton in a research report on Monday, May 15th. Jefferies Group LLC reiterated a “buy” rating and set a $69.00 target price on shares of Halliburton in a research report on Friday, May 26th. Credit Suisse Group set a $60.00 target price on shares of Halliburton and gave the company a “buy” rating in a research report on Monday, June 5th. Seaport Global Securities cut shares of Halliburton from a “buy” rating to a “neutral” rating and dropped their target price for the company from $63.00 to $43.00 in a research report on Wednesday, June 21st. Finally, Morgan Stanley reiterated an “overweight” rating and set a $60.00 target price (down previously from $67.00) on shares of Halliburton in a research report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, three have given 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 an average rating of “Buy” and a consensus target price of $58.74.
Halliburton Company (HAL) opened at 40.63 on Tuesday. Halliburton Company has a 12-month low of $38.18 and a 12-month high of $58.78. The firm has a 50-day moving average of $40.52 and a 200 day moving average of $45.32. The company’s market capitalization is $35.41 billion.
Halliburton (NYSE:HAL) last announced its quarterly earnings data on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05. The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.86 billion. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The company’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. Analysts forecast 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. Shareholders of record on Wednesday, September 6th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Friday, September 1st. Halliburton’s dividend payout ratio is -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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