Halliburton Co. (HAL) Position Cut by Highland Capital Management LLC
Highland Capital Management LLC decreased its stake in shares of Halliburton Co. (NYSE:HAL) by 0.2% during the third quarter, Holdings Channel reports. The firm owned 35,871 shares of the oilfield services company’s stock after selling 85 shares during the period. Highland Capital Management LLC’s holdings in Halliburton were worth $1,610,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the stock. Johnson Financial Group Inc. boosted its position in shares of Halliburton by 51.3% in the second quarter. Johnson Financial Group Inc. now owns 2,277 shares of the oilfield services company’s stock valued at $103,000 after buying an additional 772 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Halliburton by 17.5% in the second quarter. Quadrant Capital Group LLC now owns 2,542 shares of the oilfield services company’s stock valued at $104,000 after buying an additional 379 shares in the last quarter. Manchester Capital Management LLC raised its stake in shares of Halliburton by 0.4% in the second quarter. Manchester Capital Management LLC now owns 2,354 shares of the oilfield services company’s stock valued at $107,000 after buying an additional 9 shares in the last quarter. Citizens Financial Group Inc RI raised its stake in shares of Halliburton by 33.4% in the second quarter. Citizens Financial Group Inc RI now owns 2,589 shares of the oilfield services company’s stock valued at $117,000 after buying an additional 648 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Halliburton during the second quarter valued at about $120,000. Institutional investors and hedge funds own 78.27% of the company’s stock.
Shares of Halliburton Co. (NYSE:HAL) traded down 2.07% on Tuesday, hitting $47.79. The stock had a trading volume of 12,331,967 shares. The company’s market cap is $41.31 billion. The company’s 50 day moving average price is $47.87 and its 200-day moving average price is $44.70. Halliburton Co. has a 12 month low of $27.64 and a 12 month high of $50.49.
Halliburton (NYSE:HAL) last issued its quarterly earnings results on Wednesday, October 19th. The oilfield services company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.08. Halliburton had a positive return on equity of 1.82% and a negative net margin of 33.29%. The firm earned $3.83 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period last year, the company earned $0.31 EPS. Halliburton’s quarterly revenue was down 31.3% compared to the same quarter last year. On average, analysts expect that Halliburton Co. will post ($0.05) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 28th. Investors of record on Wednesday, December 7th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Monday, December 5th. Halliburton’s dividend payout ratio is currently -10.98%.
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Several equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Halliburton from a “buy” rating to a “hold” rating in a research report on Tuesday. Bank of America Corp. reaffirmed a “buy” rating on shares of Halliburton in a research report on Friday, November 18th. Vetr raised Halliburton from a “sell” rating to a “hold” rating and set a $46.86 target price for the company in a research report on Tuesday, October 25th. Societe Generale reaffirmed a “buy” rating and set a $58.00 target price on shares of Halliburton in a research report on Sunday, October 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $58.00 target price (up from $50.00) on shares of Halliburton in a research report on Sunday, October 23rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. Halliburton has an average rating of “Buy” and an average target price of $50.81.
In other Halliburton news, insider Joe D. Rainey sold 1,172 shares of the firm’s stock in a transaction on Wednesday, October 19th. The stock was sold at an average price of $50.22, for a total transaction of $58,857.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman David J. Lesar sold 10,000 shares of the firm’s stock in a transaction on Wednesday, October 19th. The stock was sold at an average price of $49.99, for a total value of $499,900.00. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.
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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