First Merchants Corp raised its stake in shares of Halliburton Co. (NYSE:HAL) by 72.6% during the second quarter, Holdings Channel reports. The firm owned 32,256 shares of the oilfield services company’s stock after buying an additional 13,569 shares during the period. First Merchants Corp’s holdings in Halliburton were worth $1,460,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in HAL. Atalanta Sosnoff Capital LLC acquired a new stake in Halliburton during the second quarter valued at approximately $24,549,000. Pitcairn Co. increased its stake in Halliburton by 0.7% in the second quarter. Pitcairn Co. now owns 7,694 shares of the oilfield services company’s stock valued at $349,000 after buying an additional 54 shares during the period. Douglas Lane & Associates LLC acquired a new stake in Halliburton during the second quarter valued at approximately $210,000. Rehmann Capital Advisory Group increased its stake in Halliburton by 8.7% in the second quarter. Rehmann Capital Advisory Group now owns 8,881 shares of the oilfield services company’s stock valued at $402,000 after buying an additional 712 shares during the period. Finally, Argus Investors Counsel Inc. increased its stake in Halliburton by 9.1% in the second quarter. Argus Investors Counsel Inc. now owns 12,000 shares of the oilfield services company’s stock valued at $543,000 after buying an additional 1,000 shares during the period. 79.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of Halliburton Co. (NYSE:HAL) traded down 0.05% during trading on Tuesday, hitting $41.26. 7,771,268 shares of the stock were exchanged. The company’s market cap is $35.53 billion. The firm has a 50 day moving average of $43.56 and a 200-day moving average of $41.48. Halliburton Co. has a 12-month low of $27.64 and a 12-month high of $46.90.
Halliburton (NYSE:HAL) last posted its earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.05. The firm earned $3.84 billion during the quarter, compared to the consensus estimate of $3.76 billion. Halliburton had a negative net margin of 30.50% and a positive return on equity of 3.55%. The company’s revenue was down 35.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. On average, analysts forecast that Halliburton Co. will post ($0.17) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 28th. Investors of record on Wednesday, September 7th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Friday, September 2nd. Halliburton’s dividend payout ratio (DPR) is presently -10.86%.
Several research firms have recently commented on HAL. Vetr downgraded shares of Halliburton from a “buy” rating to a “hold” rating and set a $42.96 price objective on the stock. in a report on Monday. Guggenheim reaffirmed a “sell” rating on shares of Halliburton in a report on Wednesday, August 31st. Jefferies Group reaffirmed a “buy” rating on shares of Halliburton in a report on Tuesday, August 30th. Atlantic Securities began coverage on shares of Halliburton in a report on Monday, August 8th. They issued an “underweight” rating and a $38.00 price objective on the stock. Finally, Citigroup Inc. reaffirmed a “buy” rating on shares of Halliburton in a report on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target 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.
Want to see what other hedge funds are holding HAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Halliburton Co. (NYSE:HAL).
Receive News & Ratings for Halliburton Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halliburton Co. and related companies with MarketBeat.com's FREE daily email newsletter.