Halliburton Co. (HAL) Stake Reduced by Deltec Asset Management LLC
Deltec Asset Management LLC reduced its position in Halliburton Co. (NYSE:HAL) by 25.1% during the second quarter, Holdings Channel reports. The firm owned 14,930 shares of the oilfield services company’s stock after selling 5,000 shares during the period. Deltec Asset Management LLC’s holdings in Halliburton were worth $676,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in HAL. Strs Ohio raised its stake in shares of Halliburton by 0.9% in the second quarter. Strs Ohio now owns 873,672 shares of the oilfield services company’s stock worth $39,568,000 after buying an additional 7,549 shares during the last quarter. First Merchants Corp raised its stake in shares of Halliburton by 72.6% in the second quarter. First Merchants Corp now owns 32,256 shares of the oilfield services company’s stock worth $1,460,000 after buying an additional 13,569 shares during the last quarter. Atalanta Sosnoff Capital LLC bought a new stake in shares of Halliburton during the second quarter worth $24,549,000. Pitcairn Co. raised its stake in shares of Halliburton by 0.7% in the second quarter. Pitcairn Co. now owns 7,694 shares of the oilfield services company’s stock worth $349,000 after buying an additional 54 shares during the last quarter. Finally, Douglas Lane & Associates LLC bought a new stake in shares of Halliburton during the second quarter worth $210,000. 79.64% of the stock is currently owned by institutional investors and hedge funds.
Halliburton Co. (NYSE:HAL) traded up 3.54% on Wednesday, reaching $42.72. 7,610,232 shares of the company traded hands. The stock has a 50 day moving average of $43.58 and a 200-day moving average of $41.49. Halliburton Co. has a 1-year low of $27.64 and a 1-year high of $46.90. The stock’s market capitalization is $36.79 billion.
Halliburton (NYSE:HAL) last announced 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. The firm earned $3.84 billion during 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 quarterly revenue was down 35.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 earnings per share. On average, equities analysts anticipate that Halliburton Co. will post ($0.17) EPS 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. This represents a $0.72 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Friday, September 2nd. Halliburton’s dividend payout ratio (DPR) is -10.86%.
A number of equities research analysts have recently weighed in on the stock. Jefferies Group reaffirmed a “buy” rating and set a $56.00 target price (up previously from $47.00) on shares of Halliburton in a research note on Monday, July 11th. Seaport Global Securities reaffirmed a “buy” rating on shares of Halliburton in a research note on Thursday, July 21st. Johnson Rice reaffirmed an “accumulate” rating on shares of Halliburton in a research note on Monday, July 25th. Vetr lowered shares of Halliburton from a “buy” rating to a “hold” rating and set a $42.96 target price on the stock. in a research note on Monday. Finally, Scotiabank reissued a “sector perform” rating and set a $45.00 price objective (up previously from $37.00) on shares of Halliburton in a research note on Wednesday, June 15th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently 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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