Moors & Cabot Inc. increased its stake in Halliburton Company (NYSE:HAL) by 3.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,018 shares of the oilfield services company’s stock after purchasing an additional 901 shares during the period. Moors & Cabot Inc.’s holdings in Halliburton were worth $1,235,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in HAL. Commerce Bank boosted its stake in Halliburton by 11.4% in the 1st quarter. Commerce Bank now owns 24,811 shares of the oilfield services company’s stock worth $1,221,000 after purchasing an additional 2,542 shares in the last quarter. CI Investments Inc. boosted its stake in Halliburton by 15.2% in the 1st quarter. CI Investments Inc. now owns 1,284,050 shares of the oilfield services company’s stock worth $63,188,000 after purchasing an additional 169,200 shares in the last quarter. Beach Investment Counsel Inc. PA boosted its stake in Halliburton by 223.0% in the 1st quarter. Beach Investment Counsel Inc. PA now owns 258,283 shares of the oilfield services company’s stock worth $12,710,000 after purchasing an additional 178,313 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Halliburton by 20.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 101,345 shares of the oilfield services company’s stock worth $4,987,000 after purchasing an additional 17,443 shares in the last quarter. Finally, Toronto Dominion Bank boosted its stake in Halliburton by 17.7% in the 1st quarter. Toronto Dominion Bank now owns 702,530 shares of the oilfield services company’s stock worth $34,574,000 after purchasing an additional 105,633 shares in the last quarter. Institutional investors own 79.51% of the company’s stock.
Shares of Halliburton Company (HAL) traded down 0.75% during midday trading on Friday, reaching $44.75. 11,162,207 shares of the company’s stock traded hands. Halliburton Company has a 52 week low of $38.18 and a 52 week high of $58.78. The company’s market capitalization is $39.00 billion. The stock’s 50 day moving average is $41.91 and its 200-day moving average is $44.29.
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 business had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter last year, the business 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, analysts forecast that Halliburton Company will post $1.11 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Friday, September 1st. Halliburton’s dividend payout ratio is presently -423.50%.
HAL has been the subject of a number of recent analyst reports. ValuEngine cut shares of Halliburton from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. HSBC Holdings plc reissued a “buy” rating and set a $62.00 price target (down from $65.00) on shares of Halliburton in a research report on Thursday, June 22nd. Barclays PLC reissued an “overweight” rating on shares of Halliburton in a research report on Monday, June 26th. Guggenheim lowered shares of Halliburton from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 27th. Finally, J P Morgan Chase & Co reduced their price target on shares of Halliburton from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $57.99.
In related news, EVP Lawrence J. Pope sold 43,000 shares of Halliburton stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $39.66, for a total transaction of $1,705,380.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.46% of the company’s stock.
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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