Redwood Investments LLC bought a new position in shares of Halliburton Co. (NYSE:HAL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 222,624 shares of the oilfield services company’s stock, valued at approximately $10,083,000.
A number of other large investors have also modified their holdings of HAL. Virginia Retirement System acquired a new stake in shares of Halliburton during the first quarter worth about $1,799,000. CIBC World Markets Inc. boosted its stake in shares of Halliburton by 28.7% in the first quarter. CIBC World Markets Inc. now owns 32,577 shares of the oilfield services company’s stock worth $1,164,000 after buying an additional 7,266 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Halliburton by 46.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 16,002 shares of the oilfield services company’s stock worth $572,000 after buying an additional 5,110 shares during the last quarter. Ngam Advisors L.P. boosted its stake in shares of Halliburton by 4.3% in the first quarter. Ngam Advisors L.P. now owns 130,490 shares of the oilfield services company’s stock worth $4,661,000 after buying an additional 5,410 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Halliburton by 24.9% in the first quarter. TIAA CREF Investment Management LLC now owns 3,611,796 shares of the oilfield services company’s stock worth $129,013,000 after buying an additional 721,173 shares during the last quarter. 79.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of Halliburton Co. (NYSE:HAL) traded up 0.04% during mid-day trading on Monday, reaching $44.90. 6,221,416 shares of the company’s stock were exchanged. The stock’s market capitalization is $38.66 billion. Halliburton Co. has a 1-year low of $27.64 and a 1-year high of $46.90. The company’s 50 day moving average is $43.37 and its 200 day moving average is $41.81.
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 Zacks’ consensus estimate of ($0.19) by $0.05. Halliburton had a negative net margin of 30.50% and a positive return on equity of 3.55%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the business posted $0.44 EPS. Halliburton’s revenue for the quarter was down 35.2% compared to the same quarter last year. Equities research analysts anticipate that Halliburton Co. will post ($0.18) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 7th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, September 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.60%. Halliburton’s payout ratio is -10.86%.
HAL has been the topic of a number of analyst reports. Susquehanna reissued a “positive” rating and set a $55.00 target price (up previously from $47.00) on shares of Halliburton in a report on Monday, June 13th. Howard Weil boosted their target price on shares of Halliburton from $37.00 to $45.00 and gave the company a “sector perform” rating in a report on Wednesday, June 15th. Scotiabank reissued a “sector perform” rating and set a $45.00 target price (up previously from $37.00) on shares of Halliburton in a report on Wednesday, June 15th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $46.00 price target on shares of Halliburton in a report on Wednesday, June 15th. Finally, Simmons upped their price target on shares of Halliburton from $48.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, June 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have given 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 $46.78.
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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