Conning Inc. increased its position in Halliburton Co. (NYSE:HAL) by 2.1% during the second quarter, Holdings Channel reports. The fund owned 20,983 shares of the oilfield services company’s stock after buying an additional 440 shares during the period. Conning Inc.’s holdings in Halliburton were worth $950,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of HAL. Meeder Asset Management Inc. acquired a new position in Halliburton during the second quarter valued at approximately $904,000. Atalanta Sosnoff Capital LLC acquired a new position in Halliburton during the second quarter valued at approximately $24,549,000. Legal & General Group Plc raised its position in Halliburton by 2.4% in the first quarter. Legal & General Group Plc now owns 3,758,764 shares of the oilfield services company’s stock valued at $134,279,000 after buying an additional 87,107 shares in the last quarter. Natixis acquired a new position in Halliburton during the first quarter valued at approximately $27,010,000. Finally, Kovitz Investment Group Partners LLC acquired a new position in Halliburton during the first quarter valued at approximately $41,650,000. 79.64% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Halliburton Co. (NYSE:HAL) traded up 4.49% during mid-day trading on Wednesday, reaching $42.79. 12,551,927 shares of the company traded hands. The firm has a 50-day moving average price of $43.34 and a 200 day moving average price of $41.73. Halliburton Co. has a 52 week low of $27.64 and a 52 week high of $46.90. The firm’s market capitalization is $36.85 billion.
Halliburton (NYSE:HAL) last announced its quarterly earnings data on Wednesday, July 20th. The oilfield services company reported ($0.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.05. The firm earned $3.84 billion during the quarter, compared to analyst estimates of $3.76 billion. Halliburton had a negative net margin of 30.50% and a positive return on equity of 3.55%. Halliburton’s revenue was down 35.2% on a year-over-year basis. During the same period last year, the firm posted $0.44 EPS. On average, analysts anticipate that Halliburton Co. will post ($0.18) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 28th. Investors of record on Wednesday, September 7th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, September 2nd. This represents a $0.72 annualized dividend and a yield of 1.68%. Halliburton’s dividend payout ratio (DPR) is presently -10.86%.
Several brokerages have weighed in on HAL. Societe Generale cut shares of Halliburton from a “buy” rating to a “hold” rating and increased their price target for the company from $46.00 to $50.00 in a research report on Monday, July 18th. Vetr cut shares of Halliburton from a “strong-buy” rating to a “buy” rating and set a $50.00 price target for the company. in a research report on Thursday, June 30th. Howard Weil increased their price target on shares of Halliburton from $37.00 to $45.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 15th. Nomura reissued a “buy” rating and set a $53.00 price target on shares of Halliburton in a research report on Thursday, July 21st. Finally, Goldman Sachs Group Inc. reissued a “buy” rating and set a $46.00 price target on shares of Halliburton in a research report on Wednesday, June 15th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $46.65.
Halliburton Company Profile
Halliburton Company is a provider of services and products to the upstream oil and natural gas industry. The Company operates through two segments: the Completion and Production segment, and the Drilling and Evaluation segment. The Company’s Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion products and services.
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