State Street Corp lowered its stake in Halliburton Company (NYSE:HAL) by 1.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 42,804,837 shares of the oilfield services company’s stock after selling 697,644 shares during the period. State Street Corp owned about 4.93% of Halliburton worth $2,106,421,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Checchi Capital Advisers LLC boosted its position in Halliburton by 8.9% in the first quarter. Checchi Capital Advisers LLC now owns 8,631 shares of the oilfield services company’s stock valued at $425,000 after buying an additional 707 shares during the period. Marietta Investment Partners LLC boosted its position in Halliburton by 84.4% in the first quarter. Marietta Investment Partners LLC now owns 29,923 shares of the oilfield services company’s stock valued at $1,473,000 after buying an additional 13,693 shares during the period. Trexquant Investment LP boosted its position in Halliburton by 18.1% in the first quarter. Trexquant Investment LP now owns 19,600 shares of the oilfield services company’s stock valued at $965,000 after buying an additional 3,000 shares during the period. Chevy Chase Trust Holdings Inc. boosted its position in Halliburton by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 750,981 shares of the oilfield services company’s stock valued at $36,956,000 after buying an additional 24,253 shares during the period. Finally, Shell Asset Management Co. boosted its position in Halliburton by 62.2% in the first quarter. Shell Asset Management Co. now owns 144,957 shares of the oilfield services company’s stock valued at $7,133,000 after buying an additional 55,595 shares during the period. Institutional investors own 79.67% of the company’s stock.
Shares of Halliburton Company (NYSE:HAL) opened at 40.02 on Friday. The firm has a 50-day moving average price of $42.63 and a 200-day moving average price of $47.79. The company’s market capitalization is $34.88 billion. Halliburton Company has a 1-year low of $40.00 and a 1-year high of $58.78.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The firm had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the prior year, the business posted ($0.14) earnings per share. The business’s revenue was up 29.3% compared to the same quarter last year. Equities analysts anticipate that Halliburton Company will post $1.12 earnings per share for the current year.
The business also recently declared 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 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Friday, September 1st. Halliburton’s dividend payout ratio (DPR) is -423.50%.
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Several analysts have recently weighed in on the stock. HSBC Holdings plc restated a “buy” rating and set a $62.00 price objective (down previously from $65.00) on shares of Halliburton in a research report on Thursday, June 22nd. Barclays PLC restated an “overweight” rating on shares of Halliburton in a research report on Monday, June 26th. Guggenheim downgraded shares of Halliburton from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 27th. Zacks Investment Research downgraded shares of Halliburton from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, ValuEngine upgraded shares of Halliburton from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $59.60.
In related news, Director William E. Albrecht purchased 8,000 shares of the stock in a transaction on Monday, May 15th. The shares were purchased at an average cost of $46.33 per share, for a total transaction of $370,640.00. Following the completion of the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $370,640. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.
Halliburton Company Profile
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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