Halliburton Co. (HAL) Stake Decreased by ING Groep NV
ING Groep NV lowered its position in shares of Halliburton Co. (NYSE:HAL) by 76.2% during the second quarter, Holdings Channel reports. The firm owned 14,640 shares of the oilfield services company’s stock after selling 46,835 shares during the period. ING Groep NV’s holdings in Halliburton were worth $663,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Los Angeles Capital Management & Equity Research Inc. raised 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 period. Ngam Advisors L.P. raised its position in Halliburton by 4.3% in the first quarter. Ngam Advisors L.P. now owns 130,490 shares of the oilfield services company’s stock valued at $4,661,000 after buying an additional 5,410 shares during the last quarter. Teachers Advisors Inc. raised its position in Halliburton by 8.9% in the first quarter. Teachers Advisors Inc. now owns 1,065,141 shares of the oilfield services company’s stock valued at $38,047,000 after buying an additional 87,222 shares during the last quarter. Prudential Financial Inc. raised its position in Halliburton by 2.7% in the first quarter. Prudential Financial Inc. now owns 1,103,288 shares of the oilfield services company’s stock valued at $39,409,000 after buying an additional 28,830 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in Halliburton during the first quarter valued at approximately $11,397,000. 79.64% of the stock is owned by institutional investors and hedge funds.
Halliburton Co. (NYSE:HAL) traded down 0.24% during midday trading on Friday, hitting $46.26. 7,014,466 shares of the stock were exchanged. Halliburton Co. has a 52 week low of $27.64 and a 52 week high of $46.90. The stock’s market cap is $39.83 billion. The firm’s 50-day moving average is $43.47 and its 200 day moving average is $42.16.
Halliburton (NYSE:HAL) last issued its earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates 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 for the quarter was down 35.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.44 EPS. Equities research analysts expect that Halliburton Co. will post ($0.18) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Investors of record on Wednesday, September 7th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, September 2nd. This represents a $0.72 annualized dividend and a yield of 1.56%. Halliburton’s dividend payout ratio (DPR) is -10.86%.
Several research analysts have recently commented on HAL shares. Susquehanna reissued a “positive” rating and issued a $55.00 price target (up from $47.00) on shares of Halliburton in a research report on Monday, June 13th. Howard Weil boosted their price target on Halliburton from $37.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Wednesday, June 15th. Scotiabank reissued a “sector perform” rating and issued a $45.00 price target (up from $37.00) on shares of Halliburton in a research report on Wednesday, June 15th. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $46.00 price target on shares of Halliburton in a research report on Wednesday, June 15th. Finally, Simmons boosted their price target on Halliburton from $48.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $46.89.
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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