Tokio Marine Asset Management Co. Ltd. cut its position in Halliburton Co. (NYSE:HAL) by 4.4% during the second quarter, Holdings Channel reports. The institutional investor owned 56,404 shares of the oilfield services company’s stock after selling 2,587 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Halliburton were worth $2,555,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new stake in shares of Halliburton during the second quarter worth about $904,000. Atalanta Sosnoff Capital LLC acquired a new stake in shares of Halliburton during the second quarter worth about $24,549,000. Legal & General Group Plc boosted its stake in shares of 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 worth $134,279,000 after buying an additional 87,107 shares during the period. Natixis acquired a new stake in shares of Halliburton during the first quarter worth about $27,010,000. Finally, Kovitz Investment Group Partners LLC acquired a new stake in shares of Halliburton during the first quarter worth about $41,650,000. 79.64% of the stock is owned by institutional investors and hedge funds.
Shares of Halliburton Co. (NYSE:HAL) traded up 3.25% during midday trading on Thursday, reaching $44.18. 15,139,033 shares of the company traded hands. The firm’s market capitalization is $38.04 billion. Halliburton Co. has a 1-year low of $27.64 and a 1-year high of $46.90. The stock has a 50 day moving average price of $43.34 and a 200 day moving average price of $41.73.
Halliburton (NYSE:HAL) last issued its earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.05. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.76 billion. Halliburton had a positive return on equity of 3.55% and a negative net margin of 30.50%. Halliburton’s revenue for the quarter was down 35.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Analysts expect that Halliburton Co. will post ($0.18) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 7th were given a $0.18 dividend. The ex-dividend date was Friday, September 2nd. This represents a $0.72 annualized dividend and a yield of 1.63%. Halliburton’s dividend payout ratio is presently -10.86%.
A number of equities research analysts have recently issued reports on the stock. Citigroup Inc. upped their price objective on shares of Halliburton from $49.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, July 13th. Stephens reaffirmed a “top pick” rating on shares of Halliburton in a research note on Friday, July 15th. Societe Generale cut shares of Halliburton from a “buy” rating to a “hold” rating and upped their price objective for the company from $46.00 to $50.00 in a research note on Monday, July 18th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Halliburton in a research note on Tuesday, July 5th. Finally, Vetr cut shares of Halliburton from a “strong-buy” rating to a “buy” rating and set a $50.00 price objective for the company. in a research note on Thursday, June 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $46.65.
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.