Schwartz Investment Counsel Inc. lowered its position in Halliburton Company (NYSE:HAL) by 51.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,250 shares of the oilfield services company’s stock after selling 17,000 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in Halliburton were worth $748,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Halliburton by 2.2% in the second quarter. Vanguard Group Inc. now owns 59,770,447 shares of the oilfield services company’s stock valued at $2,552,795,000 after acquiring an additional 1,267,141 shares during the last quarter. BlackRock Inc. raised its position in shares of Halliburton by 7.6% in the second quarter. BlackRock Inc. now owns 55,790,373 shares of the oilfield services company’s stock valued at $2,382,809,000 after purchasing an additional 3,955,245 shares during the period. Capital World Investors raised its position in shares of Halliburton by 0.7% in the second quarter. Capital World Investors now owns 47,713,255 shares of the oilfield services company’s stock valued at $2,037,833,000 after purchasing an additional 320,362 shares during the period. Wellington Management Group LLP raised its position in shares of Halliburton by 1.1% in the first quarter. Wellington Management Group LLP now owns 20,413,182 shares of the oilfield services company’s stock valued at $1,004,532,000 after purchasing an additional 227,704 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of 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 during the period. Hedge funds and other institutional investors own 79.36% of the company’s stock.
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Halliburton Company (NYSE HAL) traded up 1.8369% during midday trading on Wednesday, reaching $43.5251. 1,831,575 shares of the company traded hands. The company’s market capitalization is $37.94 billion. Halliburton Company has a one year low of $38.18 and a one year high of $58.78. The stock’s 50 day moving average is $43.76 and its 200 day moving average is $43.53.
Halliburton (NYSE:HAL) last issued its earnings results on Monday, October 23rd. The oilfield services company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.04. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.35 billion. Halliburton had a return on equity of 6.93% and a net margin of 1.13%. Halliburton’s revenue for the quarter was up 42.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.01 earnings per share. On average, equities analysts anticipate that Halliburton Company will post $1.13 earnings per share for the current year.
In other Halliburton news, EVP Lawrence J. Pope sold 43,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $39.66, for a total value of $1,705,380.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is owned by corporate insiders.
HAL has been the topic of several research analyst reports. Loop Capital reissued a “buy” rating and issued a $57.00 price objective (down from $62.00) on shares of Halliburton in a research report on Tuesday, October 24th. ValuEngine lowered shares of Halliburton from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Scotiabank reissued a “buy” rating and issued a $52.00 price objective on shares of Halliburton in a research report on Wednesday, October 25th. J P Morgan Chase & Co dropped their price objective on shares of Halliburton from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 12th. Finally, Zacks Investment Research lowered shares of Halliburton from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $57.55.
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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