Norinchukin Bank The raised its position in Halliburton Company (NYSE:HAL) by 4.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,874 shares of the oilfield services company’s stock after purchasing an additional 4,134 shares during the quarter. Norinchukin Bank The’s holdings in Halliburton were worth $4,479,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Ameriprise Financial Inc. grew its stake in Halliburton by 107.8% in the second quarter. Ameriprise Financial Inc. now owns 15,623,103 shares of the oilfield services company’s stock valued at $667,362,000 after purchasing an additional 8,105,286 shares in the last quarter. Icon Advisers Inc. Co. acquired a new stake in shares of Halliburton in the second quarter worth about $2,802,000. Fort Washington Investment Advisors Inc. OH lifted its position in shares of Halliburton by 0.7% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,553,257 shares of the oilfield services company’s stock worth $66,340,000 after buying an additional 10,447 shares during the last quarter. South State Corp lifted its position in shares of Halliburton by 16.8% in the second quarter. South State Corp now owns 6,209 shares of the oilfield services company’s stock worth $266,000 after buying an additional 895 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its position in shares of Halliburton by 8.9% in the second quarter. Riverhead Capital Management LLC now owns 13,348 shares of the oilfield services company’s stock worth $570,000 after buying an additional 1,089 shares during the last quarter. Hedge funds and other institutional investors own 79.51% of the company’s stock.
A number of analysts have weighed in on the company. J P Morgan Chase & Co reduced their price target on Halliburton from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, September 12th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $53.00 price target on shares of Halliburton in a research report on Wednesday, September 6th. ValuEngine cut Halliburton from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Jefferies Group LLC set a $56.00 price target on Halliburton and gave the stock a “buy” rating in a research report on Monday, August 28th. Finally, BidaskClub cut Halliburton from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $58.61.
In other news, EVP Lawrence J. Pope sold 43,000 shares of Halliburton stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by insiders.
Shares of Halliburton Company (NYSE HAL) opened at 42.31 on Monday. The stock has a 50 day moving average price of $40.41 and a 200 day moving average price of $45.08. The company’s market capitalization is $36.88 billion. Halliburton Company has a 1-year low of $38.18 and a 1-year high of $58.78.
Halliburton (NYSE:HAL) last released 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 negative net margin of 0.86% and a positive return on equity of 2.97%. The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the previous year, the business earned ($0.14) earnings per share. The firm’s quarterly revenue was up 29.3% on a year-over-year basis. Analysts forecast that Halliburton Company will post $1.12 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.70%. Halliburton’s 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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