Investec Asset Management LTD trimmed its holdings in shares of Halliburton Company (NYSE:HAL) by 6.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 910,183 shares of the oilfield services company’s stock after selling 63,393 shares during the period. Investec Asset Management LTD owned about 0.10% of Halliburton worth $38,874,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. BB&T Securities LLC increased its stake in 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 in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in 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 in the last quarter. Airain ltd increased its stake in Halliburton by 31.8% in the 2nd quarter. Airain ltd now owns 491,492 shares of the oilfield services company’s stock valued at $20,992,000 after purchasing an additional 118,512 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in 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 in the last quarter. Finally, Marietta Investment Partners LLC increased its stake in 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 in the last quarter. 79.51% of the stock is owned by institutional investors and hedge funds.
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Several equities analysts recently weighed in on the company. J P Morgan Chase & Co dropped their price objective on Halliburton from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, September 12th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $53.00 price objective on shares of Halliburton in a research note on Wednesday, September 6th. ValuEngine downgraded Halliburton from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Jefferies Group LLC set a $56.00 price objective on Halliburton and gave the company a “buy” rating in a research note on Monday, August 28th. Finally, BidaskClub downgraded Halliburton from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Halliburton presently has a consensus rating of “Buy” and an average price target of $58.61.
Halliburton Company (NYSE:HAL) opened at 43.61 on Thursday. The stock’s market capitalization is $38.01 billion. Halliburton Company has a 52-week low of $38.18 and a 52-week high of $58.78. The firm has a 50-day moving average price of $40.41 and a 200 day moving average price of $44.79.
Halliburton (NYSE:HAL) last posted its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, beating the 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 analysts’ expectations of $4.86 billion. During the same period in the previous year, the company posted ($0.14) EPS. Halliburton’s revenue was up 29.3% on a year-over-year basis. On average, equities research analysts predict that Halliburton Company will post $1.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Friday, September 1st. Halliburton’s dividend payout ratio is presently -423.50%.
In related news, EVP Lawrence J. Pope sold 43,000 shares of the company’s 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 legal filing with the Securities & Exchange Commission, which is available through this link. 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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