Schwartz Investment Counsel Inc. Has $21,352,000 Stake in Halliburton Company (HAL)
Schwartz Investment Counsel Inc. decreased its position in Halliburton Company (NYSE:HAL) by 11.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 475,750 shares of the oilfield services company’s stock after selling 60,200 shares during the period. Halliburton Company comprises approximately 1.5% of Schwartz Investment Counsel Inc.’s holdings, making the stock its 27th largest position. Schwartz Investment Counsel Inc.’s holdings in Halliburton Company were worth $21,352,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of HAL. Capital Research Global Investors raised its stake in shares of Halliburton Company by 2.5% in the second quarter. Capital Research Global Investors now owns 57,462,943 shares of the oilfield services company’s stock worth $2,602,497,000 after buying an additional 1,426,237 shares in the last quarter. State Street Corp raised its stake in shares of Halliburton Company by 1.1% in the second quarter. State Street Corp now owns 40,360,728 shares of the oilfield services company’s stock worth $1,827,936,000 after buying an additional 449,869 shares in the last quarter. Capital World Investors raised its stake in shares of Halliburton Company by 13.4% in the second quarter. Capital World Investors now owns 29,055,680 shares of the oilfield services company’s stock worth $1,315,932,000 after buying an additional 3,440,198 shares in the last quarter. Waddell & Reed Financial Inc. raised its stake in shares of Halliburton Company by 11.9% in the second quarter. Waddell & Reed Financial Inc. now owns 18,587,275 shares of the oilfield services company’s stock worth $841,818,000 after buying an additional 1,981,618 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Halliburton Company by 40.1% in the second quarter. FMR LLC now owns 13,373,769 shares of the oilfield services company’s stock worth $605,699,000 after buying an additional 3,829,088 shares in the last quarter. 78.14% of the stock is owned by hedge funds and other institutional investors.
Halliburton Company (NYSE:HAL) opened at 55.18 on Friday. The stock’s 50 day moving average price is $54.01 and its 200-day moving average price is $47.16. Halliburton Company has a 52 week low of $27.64 and a 52 week high of $56.98. The company’s market capitalization is $47.70 billion.
Halliburton Company (NYSE:HAL) last released its earnings results on Wednesday, October 19th. The oilfield services company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.08. Halliburton Company had a negative net margin of 33.29% and a positive return on equity of 1.82%. The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the previous year, the company earned $0.31 EPS. Halliburton Company’s revenue for the quarter was down 31.3% on a year-over-year basis. On average, equities research analysts predict that Halliburton Company will post ($0.05) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 28th. Investors of record on Wednesday, December 7th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Monday, December 5th. Halliburton Company’s dividend payout ratio (DPR) is -10.98%.
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Several research firms have recently issued reports on HAL. Loop Capital reaffirmed a “buy” rating and issued a $53.00 target price on shares of Halliburton Company in a report on Thursday, October 20th. Vetr raised Halliburton Company from a “hold” rating to a “buy” rating and set a $42.96 target price for the company in a report on Tuesday, September 27th. Bank of America Corporation reaffirmed a “buy” rating on shares of Halliburton Company in a report on Friday, November 18th. Barclays PLC upped their target price on Halliburton Company from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, October 20th. Finally, Sanford C. Bernstein began coverage on Halliburton Company in a report on Thursday, December 1st. They issued an “outperform” rating and a $64.00 target price for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $53.17.
In related news, President Jeffrey Allen Miller sold 3,166 shares of Halliburton Company stock in a transaction on Thursday, January 5th. The shares were sold at an average price of $56.19, for a total transaction of $177,897.54. Following the transaction, the president now owns 301,188 shares in the company, valued at approximately $16,923,753.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman David J. Lesar sold 40,000 shares of Halliburton Company stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $52.68, for a total transaction of $2,107,200.00. Following the transaction, the chairman now owns 563,092 shares in the company, valued at approximately $29,663,686.56. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.
About Halliburton Company
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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