Hedeker Wealth LLC cut its stake in shares of Halliburton Co. (NYSE:HAL) by 74.5% during the second quarter, Holdings Channel reports. The firm owned 13,812 shares of the oilfield services company’s stock after selling 40,333 shares during the period. Hedeker Wealth LLC’s holdings in Halliburton were worth $625,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its position in shares of Halliburton by 1.8% in the first quarter. State Street Corp now owns 39,910,859 shares of the oilfield services company’s stock valued at $1,425,614,000 after buying an additional 686,990 shares during the period. Geode Capital Management LLC increased its position in shares of Halliburton by 1.7% in the first quarter. Geode Capital Management LLC now owns 7,023,445 shares of the oilfield services company’s stock valued at $250,374,000 after buying an additional 119,543 shares during the period. Standard Life Investments LTD increased its position in shares of Halliburton by 9.1% in the second quarter. Standard Life Investments LTD now owns 6,858,700 shares of the oilfield services company’s stock valued at $310,528,000 after buying an additional 574,143 shares during the period. American Century Companies Inc. increased its position in shares of Halliburton by 40.2% in the second quarter. American Century Companies Inc. now owns 6,259,138 shares of the oilfield services company’s stock valued at $283,476,000 after buying an additional 1,794,884 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in shares of Halliburton by 8.6% in the first quarter. UBS Asset Management Americas Inc. now owns 4,140,660 shares of the oilfield services company’s stock valued at $147,904,000 after buying an additional 328,881 shares during the period. Institutional investors own 79.74% of the company’s stock.
Shares of Halliburton Co. (NYSE:HAL) traded down 1.38% during mid-day trading on Monday, hitting $46.32. The stock had a trading volume of 8,169,273 shares. The firm has a 50 day moving average of $43.73 and a 200 day moving average of $42.52. Halliburton Co. has a one year low of $27.64 and a one year high of $47.96. The stock’s market cap is $39.89 billion.
Halliburton (NYSE:HAL) last issued its quarterly earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.05. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.76 billion. Halliburton had a positive return on equity of 3.55% and a negative net margin of 30.50%. The firm’s revenue was down 35.2% compared to the same quarter last year. During the same period last year, the business posted $0.44 earnings per share. On average, analysts forecast that Halliburton Co. will post ($0.18) earnings per share for the current year.
HAL has been the topic of several analyst reports. Vetr upgraded Halliburton from a “hold” rating to a “buy” rating and set a $42.96 target price on the stock in a research note on Tuesday, September 27th. Citigroup Inc. reiterated a “buy” rating on shares of Halliburton in a research note on Wednesday, August 3rd. Zacks Investment Research downgraded Halliburton from a “buy” rating to a “hold” rating in a research note on Friday. Jefferies Group set a $56.00 price target on Halliburton and gave the company a “buy” rating in a research note on Wednesday, July 20th. Finally, KeyCorp restated an “overweight” rating and issued a $54.00 price target (up from $45.00) on shares of Halliburton in a research note on Tuesday, June 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $47.30.
In other news, insider James S. Brown sold 28,439 shares of the firm’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $47.00, for a total value of $1,336,633.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by insiders.
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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