Tradition Capital Management LLC Maintains Position in Halliburton Company (HAL)

Tradition Capital Management LLC maintained its stake in shares of Halliburton Company (NYSE:HAL) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,310 shares of the oilfield services company’s stock at the close of the second quarter. Tradition Capital Management LLC’s holdings in Halliburton were worth $568,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Checchi Capital Advisers LLC grew its stake in shares of Halliburton by 8.9% in the 1st quarter. Checchi Capital Advisers LLC now owns 8,631 shares of the oilfield services company’s stock valued at $425,000 after purchasing an additional 707 shares during the last quarter. Marietta Investment Partners LLC grew its stake in shares of Halliburton by 84.4% in the 1st quarter. Marietta Investment Partners LLC now owns 29,923 shares of the oilfield services company’s stock valued at $1,473,000 after purchasing an additional 13,693 shares during the last quarter. Trexquant Investment LP grew its stake in shares of Halliburton by 18.1% in the 1st quarter. Trexquant Investment LP now owns 19,600 shares of the oilfield services company’s stock valued at $965,000 after purchasing an additional 3,000 shares during the last quarter. BB&T Securities LLC grew its stake in shares of Halliburton by 25.3% in the 2nd quarter. BB&T Securities LLC now owns 56,135 shares of the oilfield services company’s stock valued at $2,397,000 after purchasing an additional 11,334 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Halliburton by 16.4% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 24,885 shares of the oilfield services company’s stock valued at $1,063,000 after purchasing an additional 3,510 shares during the last quarter. Institutional investors own 79.53% of the company’s stock.

In related news, EVP Lawrence J. Pope sold 43,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $39.66, for a total transaction of $1,705,380.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.47% of the company’s stock.

A number of analysts recently weighed in on HAL shares. Royal Bank Of Canada set a $65.00 price target on Halliburton and gave the company a “buy” rating in a research note on Saturday, June 24th. Credit Suisse Group set a $60.00 price target on Halliburton and gave the company a “buy” rating in a research note on Saturday, July 1st. J P Morgan Chase & Co decreased their price target on Halliburton from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday. Jefferies Group LLC restated a “buy” rating and issued a $69.00 price target on shares of Halliburton in a research note on Friday, June 30th. Finally, Morgan Stanley restated an “overweight” rating and issued a $60.00 price target (down from $67.00) on shares of Halliburton in a research note on Wednesday, June 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $58.61.

Halliburton Company (NYSE HAL) opened at 41.26 on Wednesday. Halliburton Company has a 1-year low of $38.18 and a 1-year high of $58.78. The company has a 50-day moving average price of $40.53 and a 200 day moving average price of $45.29. The firm’s market capitalization is $35.96 billion.

Halliburton (NYSE:HAL) last issued its earnings results on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.05. The business had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.86 billion. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. Halliburton’s revenue was up 29.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.14) earnings per share. Equities analysts anticipate that Halliburton Company will post $1.12 earnings per share for the current year.

The firm also recently announced 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 is Friday, September 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.75%. Halliburton’s dividend payout ratio (DPR) is presently -423.50%.

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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.

Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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