PNC Financial Services Group Inc. cut its holdings in Halliburton Company (NYSE:HAL) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,106,949 shares of the oilfield services company’s stock after selling 5,608 shares during the period. PNC Financial Services Group Inc. owned 0.24% of Halliburton worth $89,989,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in HAL. Chicago Equity Partners LLC lifted its stake in Halliburton by 284.8% in the 1st quarter. Chicago Equity Partners LLC now owns 121,470 shares of the oilfield services company’s stock worth $5,978,000 after purchasing an additional 89,900 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Halliburton by 0.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 1,257,086 shares of the oilfield services company’s stock worth $61,861,000 after purchasing an additional 5,991 shares in the last quarter. Eagle Ridge Investment Management lifted its stake in Halliburton by 3.2% in the 1st quarter. Eagle Ridge Investment Management now owns 111,345 shares of the oilfield services company’s stock worth $5,479,000 after purchasing an additional 3,429 shares in the last quarter. IndexIQ Advisors LLC lifted its stake in Halliburton by 171.7% in the 1st quarter. IndexIQ Advisors LLC now owns 12,890 shares of the oilfield services company’s stock worth $634,000 after purchasing an additional 8,145 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Halliburton by 52.3% in the 1st quarter. First Trust Advisors LP now owns 204,813 shares of the oilfield services company’s stock worth $10,079,000 after purchasing an additional 70,332 shares in the last quarter. 79.51% of the stock is owned by institutional investors.
Shares of Halliburton Company (NYSE:HAL) opened at 42.81 on Wednesday. The stock’s 50 day moving average is $40.41 and its 200-day moving average is $44.79. The company’s market cap is $37.31 billion. Halliburton Company has a 52 week low of $38.18 and a 52 week high of $58.78.
Halliburton (NYSE:HAL) last announced its earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. The business’s revenue for the quarter was up 29.3% on a year-over-year basis. On average, equities analysts anticipate that Halliburton Company will post $1.12 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Friday, September 1st. Halliburton’s dividend payout ratio is currently -423.50%.
In other news, EVP Lawrence J. Pope sold 43,000 shares of the stock in a transaction on 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 filing with the SEC, which is available at this link. Corporate insiders own 0.47% of the company’s stock.
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Several analysts have issued reports on HAL shares. TheStreet cut shares of Halliburton from a “c-” rating to a “d+” rating in a research note on Thursday, June 29th. Seaport Global Securities upgraded shares of Halliburton from a “neutral” rating to a “buy” rating and increased their target price for the stock from $43.00 to $50.00 in a research note on Thursday, July 20th. BidaskClub cut shares of Halliburton from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 27th. FBR & Co lowered their target price on shares of Halliburton from $70.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, July 28th. Finally, Credit Suisse Group set a $60.00 target price on shares of Halliburton and gave the stock a “buy” rating in a research note on Saturday, July 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $58.61.
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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